Lawsuit Investigation: Is Your Lender Paying Interest on Your Escrow Account?

September 26, 2018 Last Updated on May 9, 2019

Important Information

Attorneys working with ClassAction.org are no longer investigating this matter. The information here is for reference only. A list of open investigations and lawsuits can be viewed here.

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At A Glance

This Alert Affects:
Homeowners living in certain states who are required to pay money into escrow accounts as part of their mortgage agreements.
What’s Going On?
Attorneys working with ClassAction.org are investigating whether mortgage lenders are complying with state laws that require them to pay interest on money held in escrow accounts. Citibank has already been sued in California for allegedly failing to pay out this interest.
Which States Require Interest on Escrow Accounts?
California, Connecticut, Iowa, Maine, Maryland, New York, Minnesota, Oregon, Rhode Island, Utah and Vermont.
How Would I Know If I’m Earning Interest?
This interest should show up on your end-of-year mortgage statement. Attorneys working with ClassAction.org are willing to review these statements for you, at no cost, to help determine whether your lender is paying out interest.