Lawsuit Investigation into Wells Fargo’s Interest Rate Buydown Offering

Last Updated on October 15, 2018

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:
Anyone who took out a mortgage loan from Wells Fargo and opted for the bank’s “temporary payment reduction” or “rate buydown” feature.
What’s Going On?
Attorneys have reason to believe the bank is promising borrowers a lower interest rate in exchange for money up front – but isn’t holding up its end of the bargain. As a result, it’s believed that borrowers are paying more upfront and over the course of their loan than they would have had they stuck with the original rate.