Under the settlement, Class Members will be given an estimated 22 percent reimbursement of the Countrywide appraisal fees they paid. For example, if a Class Member paid $500 in fees, they will receive a payment of $110 if the estimated percentage of 22 percent is used.
What is a class action settlement?
What is a Class Action Settlement? A class action settlement is reached when both parties in a class action lawsuit have decided that they no longer want to continue litigating the allegations in the class action lawsuit and want to settle the lawsuit, typically with a monetary benefit to the Class.
What is the countrywide settlement?
The settlement resolves the United States’ pricing and steering claims against Countrywide for its discrimination against African Americans and Hispanics.
Are you eligible for compensation from the Countrywide loan settlement?
Borrowers who are eligible for compensation from the settlement will then be contacted by the administrator. Individuals who believe that they may have been victims of lending discrimination by Countrywide and have questions about the settlement may email the department at [email protected] .
What is classaction’s mission?
At ClassAction.org, part of our mission is to break some myths about class action lawsuits and to provide insight into what actually goes into the filing – and resolution of – a lawsuit. To view a list of current lawsuits and investigations, click here.
When did anyone get included in the class settlement?
Anyone is generally included in this class settlement if they own or owned buildings or residences built on or after January 1, 2002 that contain (or contained) Uponor yellow brass fittings.
What happens when a class action lawsuit settles?
When a class action lawsuit settles, people who could collect part of the settlement may receive a letter in the mail or an e-mail that contains instructions on how to claim their money or refunds. In some cases, however, attorneys working on the case have no way of gathering the contact information of people who could claim part of a final settlement.
What happens to money that’s left on the table after a settlement deadline has passed?
The lawyers get paid, and so should you. Don’t leave your money on the table – it could very well be returned to the defendant, leaving little encouragement for big corporations to change their ways.
What does the Dominion National settlement cover?
This settlement covers those whose personal information was stored on Dominion National’s computer network and may have been accessed during a security incident.
When did Hyatt settle fingerprints?
This settlement covers current and former Hyatt employees who scanned their fingerprint using Hyatt’s timekeeping system as a requirement for employment between October 30, 2012 and December 16, 2018.
When will Broward County settle parking?
Anyone in the United States who purchased parking from Broward County at Fort Lauderdale-Hollywood International Airport at any time between June 28 and October 31, 2018, or between April 5 and 22, 2019 may be able to claim a piece of this settlement. Visit Official Settlement Website.
Is a Mercedes Benz covered by a settlement?
If you bought or leased a Mercedes-Benz or Sprinter BlueTEC II diesel vehicle, you may be covered by this settlement.
What is the settlement with Countrywide?
With today’s settlement, the federal government will ensure that the more than 200,000 African-American and Hispanic borrowers who were discriminated against by Countrywide will be entitled to compensation.”. The settlement resolves the United States’ pricing and steering claims against Countrywide for its discrimination against African Americans ...
How much compensation did Countrywide receive?
The settlement provides $335 million in compensation for victims of Countrywide’s discrimination during a period when Countrywide originated millions of residential mortgage loans as one of the nation’s largest single-family mortgage lenders.
What is the complaint against Countrywide?
The United States’ complaint also alleges that, as a result of Countrywide’s policies and practices, qualified African-American and Hispanic borrowers were placed in subprime loans rather than prime loans even when similarly-qualified non-Hispanic white borrowers were placed in prime loans.
When did Countrywide start investigating?
The department’s investigation into Countrywide’s lending practices began after referrals by the Board of Governors of the Federal Reserve and the Office of Thrift Supervision to the Justice Department’s Civil Rights Division in 2007 and 2008 for potential patterns or practices of discrimination by Countrywide.
Does Countrywide originate new loans?
Countrywide currently operates as a subsidiary of Bank of America but does not originate new loans.
Does Countrywide discriminate against non-applicant spouses?
The settlement also resolves the department’s claim that Countrywide violated the Equal Credit Opportunity Act by discriminating on the basis of marital status against non-applicant spouses of borrowers by encouraging them to sign away their home ownership rights . The law allows married individuals to apply for credit either in their own name or jointly with their spouse, even when the property is owned by both spouses. For applications made by married individuals applying solely in their own name between 2004 and 2008, Countrywide encouraged non-applicant spouses to sign quitclaim deeds or other documents transferring their legal rights and interests in jointly-held property to the borrowing spouse. Non-applicant spouses who execute a quitclaim deed risk substantial uncertainty and financial loss by losing all their rights and interests in the property securing the loan.
