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

Last Updated on November 26, 2019

Investigation Complete

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Case Update

November 26, 2019 – Investigation Closed

At A Glance

This Alert Affects:
California homeowners who are required to pay money into escrow accounts as part of their mortgage agreements.
What’s Going On?
Attorneys working with are investigating whether mortgage lenders are complying with California laws that require them to pay interest on money held in escrow accounts. Several banks, including Citibank and Bank of America, have already been sued for allegedly failing to pay this interest.
How Would I Know If I’m Earning Interest?
This interest should show up on your end-of-year mortgage statement.