Welcome to the Information Website for Bias v. Wells Fargo & Company, et al., United States District Court Case No. 4:12-CV-00664-YGR

If you live in the United States and you had a residential mortgage loan serviced by Wells Fargo Bank, N.A., or by one of its subsidiary divisions (“Wells Fargo”), between May 6, 2005 and July 1, 2010, and you paid Wells Fargo for one or more Broker's Price Opinions (BPOs), your rights could be affected by a class action lawsuit that is pending against Wells Fargo in the United States District Court for the Northern District of California.

The Court certified this case as a class action and ordered that this notice be provided to Class Members. Wells Fargo has not been ordered to pay any money, and there has not been a settlement of this case. Accordingly, Class Members are not eligible to receive any money now, and there is no guarantee that they will be in the future.

The people bringing the lawsuit (the “Plaintiffs”) claim that Wells Fargo violated federal law by charging homeowners more than the amount Wells Fargo paid for Broker’s Price Opinions (“BPOs”) and improperly concealing these “marked-up” charges. Wells Fargo contends that all of its BPO policies and procedures complied with the law. Wells Fargo denies all the claims in the lawsuit and that it has done anything wrong. The amount of the BPO charges generally ranged from $95 to $125 each. A “BPO” is an informal valuation of your property, like an appraisal, but it is typically performed by a real estate broker. In order to receive any benefit, the lawyers for the Class will have to prove their claims in court.

Are you in the Class?

You are a member of the Class if you:

  1. are a resident of the United States of America who had a residential mortgage serviced by Wells Fargo Bank, N.A. or its subsidiaries or divisions,
  2. who paid for one or more Broker’s Price Opinions charged by Wells Fargo,
  3. in an amount greater than the amount Wells Fargo paid a third-party vendor for the corresponding Broker’s Price Opinion,
  4. during the time period from May 6, 2005 through July 1, 2010.

What are your options?

If you are a Class Member, you have the option to stay in the Class, in which case you do not have to do anything now. If you do nothing, you will be bound by, and potentially benefit from, the Court’s orders, as well as any potential judgment in favor of or against the Class. If you stay in the Class, you will not have the right to sue Wells Fargo Bank, N.A. or Wells Fargo & Co. on your own concerning the issues in this case.

If you do not want to remain a Class Member, you do not want to be bound by the Court’s orders, and you want to keep any rights you may have to individually sue Wells Fargo Bank, N.A. or Wells Fargo & Co. over the issues in this case, you need to exclude yourself from this Class. To be excluded, complete and return the Exclusion Request Form. If you are excluded, you cannot receive any money or any other benefits that the Plaintiffs may obtain as a result of this case. The deadline to exclude yourself is March 9, 2017.

Important Dates

  • May 6, 2005 to July 1, 2010
    Class Period
  • March 9, 2017
    Deadline to Exclude Yourself from the Class
  • March 9, 2017
    Deadline to Object to the Settlement
  • March 15, 2017
    Deadline to File Notice of Intention to Appear at the Fairness Hearing
  • April 4, 2017
    Final Approval Hearing