Wells fargo status of my application

wells fargo status of my application

Wells fargo status of my application

Track your progress every step of the way

a. Progress-at-a-Glance. View a step-by-step summary of the tasks you have completed against each application milestone.

b. Status alerts. See important messages about items that need your immediate attention.

c. Your Next Steps, Your Documents, and Funding tabs. View details on select items, read loan documents, find out what you need to do next, and see information on any creditor payoffs. 

d. To-Do items. Check the “Your Next Steps” tab for your current list of tasks and due dates. Select “Show details” to learn more about each item.

e. Submit documents. Send us your required documents via upload or fax. You’ll see an “Upload” link next to items you can submit quickly and securely via electronic upload.

f. Last update. Learn when your status information was last updated.

g. You have applied for. See an overview of your application, including loan type, approved amount, monthly payment, and term.

h. Enable Text Updates. Set up, manage, and receive mobile text updates about your application status.

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When you access your Application Status page, it's easy to keep track of major milestones, action items, and information about your loan. You can select the Check Your Application Status Now link on one of the emails we sent you or .

To access your Application Status page, you will need your Wells Fargo Online username and password. If you are not a Wells Fargo Online customer, you will sign on using the following information:

  • Last name
  • Date of birth
  • Last 4 digits of your Social Security number
  • Access Code (sent to you by email)

    Once you enter the above information, you will be taken to a custom page with all your application(s)

    Can I access my application status using my Wells Fargo Online username and password?

    If you are eligible, you can access your application status online using your existing Wells Fargo Online username and password.

    How do I access my application status if I am not an Online Banking customer?

    If you are eligible, we sent you an email confirmation when you submitted your application. If you are not a Wells Fargo Online customer, this email would have contained a unique Access Code that allows you to securely sign on to check the status of a submitted application.

    An Access Code is a unique alpha numeric code that we send to you by email when you save or submit your application. It allows you to sign on to check your application(s) online if you are not a Wells Fargo Online customer. If you are an existing Wells Fargo Online customer, you will not receive an Access Code because you can use your Wells Fargo Online username and password to access your saved or submitted application(s).

    An Access Phrase is a unique two-word phrase that we send to you by email when you save your application. Like an Access Code, it allows you to sign on to check your application(s) online.  When signing on to check your application(s) simply enter your Access Phrase into the Access Code field. If you are an existing Wells Fargo Online customer, you will not receive an Access Phrase because you can use your Wells Fargo Online username and password to access your saved or submitted application(s).

    If you did not receive an email from us, online status may not be available for your application.

    There are two reasons you may not have received an Access Code. First, if you are an Online Banking customer, you can use your Online Banking username and password to check the status of your application. Second, if you are not an Online Banking customer and didn’t receive an Access Code, it means that this service isn’t available for your application.

    Go to your sign on page and select Resend Access Code. Enter your email address and click the Resend Email button. Your Access Code will be sent to you in an email. You can then access the Application Status page by clicking on the Check Your Application Status Now link and entering your Access Code.

    Your saved applications will be saved for 30 days from the date you first saved it, or for the period of time specified. Your submitted application status does not expire. If you have submitted an application, you will be able to access and manage your account through Wells Fargo Online after your loan has been funded.

    If your application status wasn’t found, it could be that the information you entered to sign on to your Application Status page does not match an application we have on file. You must use the same information to retrieve your application status that you used when submitting the application.

    If you are sure that you entered the information correctly, it may mean that online application status is not available for your application.

    If you have saved or submitted multiple applications, you will be assigned one Access Code, allowing you to access all of your applications. You might receive another Access Code:

  • If you requested that we resend it to you.
  • As a security precaution, if personal information was modified on your application.
  • If for any reason your Access Code expires.
  • For your security, a separate Access Code will be sent to you for new applications that you have saved if the email address you entered is different from what is on file for any other applications you have in progress.

    There are two reasons you may not have received an Access Code. Firstly, if you are a Wells Fargo Online customer you can use that username and password to check the status of your application. If you are not a Wells Fargo Online customer and didn’t receive an Access Code, it means that this service isn’t available for your application.

    For your security, if there have been several failed attempts to sign on to your saved or submitted application, we will temporarily lock access to your application and email you a new Access Code.

    For your security, we permanently disable access to saved or submitted applications if there have been multiple attempts to sign on using information that does not match with a submitted application. If this occurs, your saved applications will be cleared from our system as a security measure. Your submitted applications will remain.

    For submitted applications, if loan documents were provided to you through the status service, those documents will be available for viewing in the status tools until 60 days after closing or cancellation.

    If you chose Electronic Delivery, but would like to request paper copies, please contact your Wells Fargo representative.

    Please contact your Wells Fargo representative for assistance, or access Manage your profile through Profile and Settings in the More menu once you have signed on to Wells Fargo Online.

    For home mortgage applications, upfront fees must be paid to move forward with the process. These fees are outlined in your loan estimate document, which is available via yourLoanTracker, based on eligibility. If you received your initial disclosure package via mail, the loan estimate is available there.

    Upfront fees will typically consist of credit report and fees. Fees can be paid electronically in yourLoanTracker or through your home mortgage consultant. Currently, only credit and debit card transactions are acceptable forms of payment in yourLoanTracker.

    You can review a history of all your fee payments in yourLoanTracker, listed under Your Fee Payments.

    You must first sign on to a computer to set your preferences for electronic delivery.  Once you successfully complete this step, unless you're on an unsupported device, you'll be able to view your application status at any time from a mobile device and a computer.

    Certain disclosures cannot easily be read on some handheld devices, so please make sure to access your account from a computer to familiarize yourself with the loan disclosures.

    If you are able to print and save documents from your mobile device, you’ll be able to set your preferences for electronic delivery from your device. Once you have set your preferences, you’ll be able to view your application status at any time from your mobile device and computer.

    If you've set your electronic delivery preferences and are able to print and save from your mobile device, you will be able to view disclosures and access important account documents from most mobile devices. Certain devices are currently unsupported due to device limitations. If you are using a mobile device sized 7 inches or less, you will need to use a computer to electronically sign your documents.

    You can select the Enable text updates link in the application status tool to receive and manage text updates on your mobile device.

    Why use yourLoanTrackerSM

    See your loan's progress any time from your computer, smartphone, and tablet. And, from beginning to end, your home mortgage consultant will be there to guide you. yourLoanTracker is not available with all loans; talk to a home mortgage consultant for details.

  • Get support when you need it. Your home mortgage consultant will be there for any questions you may have about yourLoanTracker - and for navigating all the steps involved in financing a new home.
  • Stay on top of your loan. Check your loan's progress whenever and however you want. Your to-do list shows your next steps and ours too. You'll get email and text alerts as you reach important loan milestones.
  • Keep the loan process moving. Upload required documents and review disclosures right away - no more waiting for mail delivery. You can even sign select documents in yourLoanTracker.

    Wells fargo status of my applicationThe yourLoanTracker dashboard shows you important milestones in the home financing process. The to-do list identifies your tasks and ours too.

    Wells fargo status of my applicationWith eUpload, you can submit your documents electronically. If you don't have a PDF, you can take a picture of the paper document and upload that instead. Wells fargo status of my applicationChoose electronic delivery and we'll send your loan disclosures and other documents through yourLoanTracker.

    Your home mortgage consultant can help. Schedule a consultation to learn more.

    Sign on to yourLoanTracker

    Check the status of a loan you already have in progress and complete important loan tasks.

    Availability may be affected by your mobile device's coverage area.

    Equal Housing Lender

    Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A.

    Customers may refinance with a longer term which decreases their monthly payment, but may increase the total interest paid over the life of the new loan. In some cases customers may also benefit from a lower interest rate.

    To qualify for a customer relationship discount, you must maintain a qualifying Wells Fargo consumer checking account and make automatic payments from a Wells Fargo deposit account. Only one relationship discount may be applied per application. Auto loans obtained from a dealership (where the dealer is the lender) do not qualify for the relationship discount. To learn which accounts qualify for the discount, please consult a Wells Fargo banker. If automatic payments are not selected, or are canceled for any reason at any time after account opening, the interest rate and the corresponding monthly payment may increase.

    Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

    A current email address is needed in order to access our online system

    Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

    a. Progress-at-a-Glance. Select a step within this section to review a summary of the progress you have completed against each milestone.

    b. Progress alerts. Items that need your attention will be highlighted here, just below the “Progress-at-a-Glance” section.

    c. Your To-Do List and Your Documents information tabs allow you to view details on select items, upload requested documentation, and read loan documents and next steps.

    d. To-Do Items. Located below each of the information tabs, your tasks and the dates to complete each task are listed when you select “Show details.” 

    e. Last update. Check this section to learn when information was last updated.

    f. You have applied for: section provides an overview of your loan type, amount, interest, and closing details.

    g. Enable Text Updates section lets you set up, manage, and receive mobile text updates about your application status.

    h. Submit Documents section provides information about how to fax or upload asked-for documents.

    Track your progress every step of the way on your mobile device.

    a. Total Progress. This section displays your percentage of the home loan process that you have completed.

    b. Progress Alerts. Items that need your attention will be highlighted here, just below the “Your Application Status” headline.

    c. Your Next Steps. View this section to learn about “To-Do Items” and status detail for select steps.

    d. Send Documents. Get information about where and how to send requested documents.

    e. Application Summary. Review your credit application loan type, amount, interest, and closing details.

    f. Enable Text Updates. Check here to set up, manage, and receive mobile text updates about your application status.

    Wells fargo status of my application

    Refinancing your auto loan with us is fast and easy – and now you can apply anytime, 24 hours a day, right here on wellsfargodealerservices.com. Please read the important information below and click the Continue button below to proceed to the application.

    If you'd like to learn more, we've provided additional information about the refinance process so you'll know what to expect.

    You will need to have the following information available to complete the application:

  • Borrower's and, if applicable, co-borrower's names and social security numbers, as well as residence and employment information
  • Information about the vehicle such as make, model, year, mileage, and vehicle identification number (VIN), if available

    While the application should only take a few minutes to complete, please note that you will not be able to save the application and return to complete it later.

    Once your completed application has been submitted, you will be contacted by phone, mail, or email regarding your application and approval status.

    Your privacy is very important to us. To learn more, please read our .

    Loans subject to credit approval and acceptable collateral. Products not available in all states. Equal Credit Opportunity Lender.

    Looking to refinance your loan or find out if refinancing is right for you? If you are an existing Wells Fargo Dealer Services customer with a loan open at least six months, we make the refinance process easy and convenient by offering the highest level of service at every step. We also provide helpful information about auto finance in general, such as vehicle values, payment calculators, and more.

    As a Wells Fargo Dealer Services customer, you can apply to refinance your loan online, wherever you are, any time of the day or night. 

    Learn more about refinancing and take advantage of our online application today.

    Now you can get any car's life story with an official AutoCheck vehicle history report from Experian Automotive.

    Find pricing on new and used cars, trucks, and vans.

    Take the guesswork out of financing, with tools to help you determine what you can afford.

    Loans subject to credit approval and acceptable collateral. Products not available in all states.


    wells fargo status of my application

    Wells fargo status of my application

    Recently, a group of young illegal immigrants in California filed a lawsuit against Wells Fargo bank for denying their student loans applications on the basis of their immigration status. The Los Angeles Times profiled one of the plaintiffs, Mitzie Perez, who came to the U.S. illegally in 1997 from Guatemala. Five years old at the time, she is now 25 and a junior at the University of California-Riverside, focusing on gender and sexuality studies.

    Perez and the rest of plaintiffs are beneficiaries of the Deferred Action for Childhood Arrivals (DACA) program. The 2012 executive order, signed by President Barack Obama, gave temporary deportation relief to young adults brought to the U.S. illegally as children, who met certain criteria. That relief applies for a period of two years, subject to renewal.

    About 750,000 immigrants have applied for DACA’s reprieve, which lets them work and study in the U.S. legally. Does that mean a bank like Wells Fargo must ignore these young people’s immigration status when making loan decisions? Absolutely not.

    Banks Have to Act Prudently In Evaluating Loans

    Other than the Federal Reserve, U.S. banks do not print money. For a commercial bank such as Wells Fargo, its largest funding source is depositors: people who entrust the bank with safekeeping their hard-earned dollars. When evaluating any loan application, it’s only prudent for a bank to evaluate a potential borrower’s ability and willingness to pay back the loan.

    Loan officers usually look for the five Cs of an applicant: character (trustworthiness), capacity (debt to income ratio), capital (funds available), collateral (assets available in case of default), and conditions (outside circumstances that may affect the borrower’s financial situation and ability to repay).

    A loan applicant’s immigration status is one of those “conditions” that a bank must take into consideration, because it could seriously impact a borrower’s ability to repay the loan.

    Why Wells Fargo Is Right To Be Careful

    Wells Fargo should be concerned about lending to DACA beneficiaries, because there’s a great deal of uncertainty about how long they can stay in the U.S.

    First, DACA doesn’t grant these young illegal immigrants any permanent legal status. It only grants them a two-year deportation relief. Yes, a DACA beneficiary can request a renewal after the two-year period. But there’s no guarantee that renewal will be approved. An applicant could be denied if he or she no longer meet the criteria after two years.

    Secondly, President Trump hasn’t made any official policy decision on DACA yet. There is overwhelming public sympathy towards DACA beneficiaries, and bi-partisan support to codify DACA into law. But until that legislation actually takes place, no one knows for sure how long DACA beneficiaries can legally stay in the U.S. Therefore, offering student loans to someone who may or may not remain in the U.S. legally after a two-year period is a risky business—especially considering the average student loan size is $25,000 with a 10-year repayment plan.

    One of the many things that the 2008 economic meltdown taught us is that bad loans can have devastating effects on the overall economy. To protect its depositors—and ultimately U.S. taxpayers—banks are right not to make student loans to someone in the country illegally (even though it’s not their fault). What Wells Fargo did is not discrimination. It’s called prudence.

    By suing Wells Fargo on the ground of discrimination, ignoring the uncertainty of their immigration status and the challenges it presents, Perez and other plaintiffs are not helping their cause. Instead, they are pushing people sympathetic to their situation away.

    Prudence Does Not Equal Discrimination

    As a nation, the United States has been the most welcoming and generous place on earth to young illegal immigrants. Putting aside various welfare benefits—including food, shelter, and healthcare that many states provide to illegal immigrants and their children—U.S. taxpayers have provided unmatched support to young illegal immigrants’ education. Ever since the landmark 1982 Plyler v. Doe U.S. Supreme Court decision, states are required to provide all students with free K-12 public education, regardless of students’ immigration status.

    Since the ruling, American taxpayers have picked up the tab to provide funding for K-12 public education to all children in America, including those who were brought here illegally like Perez. Plaintiffs, including Perez, are the direct beneficiaries of this free education. They probably have no idea how much this free education actually cost. Data (with a delay of three years) from the National Center for Education Statistics (NCES) shows that as of 2012, taxpayers spent on average about $122,000 (adjusted for inflation) per child for public K-12 education in California alone.

    The Supreme Court’s decision on education doesn’t apply to education beyond high school. But according to the National Conference of State Legislatures (NCSL), many states extend generous higher education benefits to young illegal immigrants all the same. California is one of 18 states that allows young illegal immigrants to pay in-state tuition rates. Perez attends UC Riverside (UCR), which charges an in-state tuition rate of $13,581 and $40,263 for out-of-state. This means a legal resident or a U.S. citizen from outside California has to pay more than three times more to attend UCR than Perez does.

    Illegal Immigrants Greatly Benefit from U.S. Generosity

    In addition, California is one of at least six states that allows young illegal immigrant students to receive tax payer funded state level financial aid. UCR’s own website says “Over 85% of UCR undergraduate students receive financial aid, and 70% have their full fees covered by grants and scholarships.” Collegedata.com reports that average financial aid at UCR is about $21,638 per recipient. Again, Perez and many plaintiffs of the lawsuit are beneficiaries of this taxpayers-funded generosity.

    The American people, bearing most of the financial burden, have gone above and beyond to ensure young illegal immigrants like Perez receive a quality education which is not available to them in their home countries. Such generosity, however, shouldn’t be taken as an entitlement. Higher education is not a right, and no one is entitled to coerce a private business into making unsound business decisions.

    The majority of Americans, including liberals and conservatives, are sympathetic to DACA beneficiaries and are advocating for a permanent legal solution. Sadly, the lawsuit against Wells Fargo is a big turnoff for many DACA supporters, and it only makes it harder to forge a viable legal immigration solution for these young people.

    If Perez and the rest of the plaintiffs truly want to become Americans, do it the American way. If you can’t afford something now, don’t get it. No one is obligated to provide it to you, and that has nothing to do with discrimination. Higher education is not the only path to a productive and rewarding life. There are many paths to learning. Be self-reliant. If you focus on what you can do to better your life, and pay little attention to what others can or should do for you, you will be able to live kind of life you want.


    www.wellsfargo.com/login – Wells Fargo Account Sign On

    • Access all Wells Fargo accounts in one spot
    • Saves time and money
    • Requires a username and password

    The Wells Fargo Login service allows the user to obtain an account summary, transfer money, pay a bill, update brokerage information, make a stock trade, and set up account alerts. The service is free to all Wells Fargo account holders and is operated by Wells Fargo & Company. Those who are new to the Wells Fargo sign on service will have to go through a gruesome registration process in which they will have to provide their SSN and either their account, loan, ATM card, or debit card number (please see the section below for more details on where to find any given account number). Please note that Wells Fargo credit card account CANNOT be accessed via the Wells Fargo Sign On service and credit card customers will have to visit wellsfargofinancial.com. Once the account has been registered the user can view their accounts with Internet access and can download any account related documents assuming they have PDF reader installed on their device. Wells Fargo customers can also access the status of a pending application or check their credit card rewards. Those who do not like online accounts can always change their delivery preferences to U.S. Mail at any time by calling 1 (800) 869-3557. The Wells Fargo Online service is a MUST for all Wells Fargo customers.

    Where on earth can one find a Wells Fargo account number?

    • For credit cards: Enter the account number that is printed on your credit card and credit card statement
    • For trust and managed investment services accounts: Enter the complete number as it appears on your statement, including any letters, numbers, and hyphens
    • For employer-sponsored accounts: Check the I do not have an account or ATM/debit card number box and enter your Date of Birth
    • For mortgage accounts: Enter the loan number that appears on the upper right hand corner of your monthly mortgage statement
    • For online payroll accounts: If you do not have an account number or ATM/debit card number, please call 1-800-956-4442 for assistance
    • For Personal Insurance Policies and Safe Deposit Box: Enter one of your other eligible accounts above or please call customer service to get assistance
    • For all other accounts: Enter the number on your statement or card, without dashes or spaces
    • For student loan accounts: Enter the 10 digit account number that appears on the upper right hand corner of your statement or call 1-800-658-3567 Mon – Fri: 7 am – 8 pm Central Time

    Wells Fargo is a San Fransisco based international banking and financial services holding company. The firm was founded by Henry Wells and William Fargo in 1852 (Wells Fargo was founded as a way to secure express and banking services to California from New York).


    Wells Fargo Inspection Fee Settlement

    Helpful Hint: Using the general subject of your question may provide the best search results. For example, enter the word "hearing" in the search box to find information about the Settlement's Fairness Hearing.

    Plaintiffs allege that, in servicing mortgage loans, Wells Fargo violated California’s Unfair Competition Law, Cal. Bus. & Prof. Code §17200 et seq. (the “UCL”), and the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §1961 et seq. (“RICO”) in connection with its assessment and charging of property inspection fees. Specifically, Plaintiffs alleged that Wells Fargo ordered a property inspection whenever a borrower fell behind on mortgage payments by forty-five days or more, and then ordered subsequent inspections every twenty-five to thirty-five days for as long as the borrower remained delinquent. Plaintiffs claim that these property inspections ordered by Wells Fargo were unnecessary and that their cost should not have been assessed to borrowers. Plaintiffs also alleged that the true nature of these charges was concealed from borrowers by labeling them as “Other Charges.”

    Wells Fargo contends that all of its property inspection policies and procedures complied with the law and that property inspections and related charges to borrowers were reasonable and necessary. Defendants deny that they did anything wrong and maintain that their conduct was at all times in compliance with applicable law.

    The Court has not ruled in favor of Plaintiffs or Defendants. This Website is not intended to be an expression of any opinion by the Court with respect to the truth of the allegations in this lawsuit or the merits of the claims or defenses asserted. This Website is solely to advise you of the pendency of the Action and the proposed Settlement and your rights in connection with that Settlement.

    Plaintiffs Edward R. Huyer, Jr. and Connie Huyer commenced this action by filing a putative class action complaint in the United States District Court for the Northern District of California on August 5, 2008 alleging claims against Defendants for violation of RICO, the UCL and the California Consumers Legal Remedies Act, as well as for fraud, deceit and misrepresentation and unjust enrichment. After Plaintiffs filed their initial complaint, Defendants moved to transfer the action to the Southern District of Iowa, which motion was granted on December 17, 2008.

    On September 2, 2015, the Court preliminarily approved the Settlement, preliminarily certified the Settlement Class for settlement purposes only, authorized Notice to be sent to potential members of the Settlement Class, and scheduled the Settlement Fairness Hearing to consider, among other things, whether to grant final approval of the Settlement.

    Defendants have denied, and continue to deny, that they did anything wrong.

    In a class action, one or more persons called class representatives sue on behalf of other persons with similar claims. In this case, the class representatives are Plaintiffs Edward R. Huyer, Jr., Connie Huyer, Carlos Castro, and Hazel Navas-Castro.

    The class representatives and the persons on whose behalf they have sued together constitute the “Class” or “Class Members.” Their attorneys are called “Plaintiffs’ Counsel” or “Class Counsel.” The persons that have been sued are called the Defendants.

    In a class action lawsuit, one court resolves the issues for everyone in the class, except for those class members who exclude themselves from the class. The Court, by order dated September 2, 2015, certified a Settlement Class in this case.

    If you have or had a mortgage serviced by Wells Fargo and owe or paid a property inspection fee assessed during the period August 1, 2004 through December 31, 2013 (the “Class Period”), you are a Class Member . As set forth in the Stipulation, excluded from the Class are Defendants, any entity in which a Defendant has a controlling interest or is a parent or subsidiary of, or any entity that is controlled by a Defendant, and any of Defendants’ officers, directors, employees, affiliates, legal representatives, heirs, predecessors, successors, and assigns. Also excluded from the Class are those Persons who timely and validly request exclusion from the Class pursuant to the Notice.

    If you are still unsure whether you are included, you can ask for free help. You can call (855) 382‑6434 for more information.

    The Court has not reached any final decisions in connection with Plaintiffs’ claims against Defendants. Instead, Plaintiffs and Defendants have agreed to this Settlement. In reaching the Settlement, they have avoided the cost, delay and uncertainty of further litigation.

    As in any litigation, Plaintiffs and the proposed Class would face an uncertain outcome if they did not agree to the proposed Settlement. The Parties expected that the case could continue for a lengthy period of time and that if Plaintiffs succeeded, Defendants would file appeals that would postpone final resolution of the case. Continuation of the case against Defendants could result in a judgment greater than this Settlement. Conversely, continuing the case could result in no recovery at all or a recovery that is less than the amount of the Settlement.

    Plaintiffs and Plaintiffs’ Counsel believe that this Settlement is fair and reasonable to the members of the Class. They have reached this conclusion for several reasons. If the Settlement is approved, the Class will receive a significant monetary recovery. Additionally, Plaintiffs’ Counsel believes that the significant and immediate benefits of the proposed Settlement are an excellent result for the Class – especially given the risks and uncertainties of continued litigation.

    Defendants deny any wrongdoing and their agreement to settle this Action shall in no event be construed or deemed to be evidence or an admission or concession on the part of any Defendant with respect to any claim or of any fault, liability, wrongdoing, or damage.

    The Settlement, if approved, will result in the payment of $25,750,000 (the “Settlement Fund”), consisting of a cash settlement fund in the amount of $22,500,000, and the payment of $3,250,000 towards the cost of providing Notice and administrating the Settlement. If the cost of giving notice and administering the Settlement is less than $3,250,000, any remaining money will be available for distribution to Class Members in accordance with the Plan of Allocation described below. Conversely, if the cost of notice and administration exceeds $3,250,000, any additional amount shall be paid from the Settlement Fund.

    The Settlement Fund, plus interest earned from the date it is established, less costs, fees and expenses (the “Net Settlement Fund”), will be divided among all eligible Class Members whose claim for recovery has been allowed pursuant to the terms of the Stipulation. Costs, fees, and expenses include Court-approved attorneys’ fees and expenses, the costs of notifying Class Members, including the costs of printing and mailing Postcard Notice and the cost of publishing newspaper notice, and the costs of claims administration. The Net Settlement Fund will be distributed to Authorized Claimants pursuant to the Plan of Allocation that is described below.

    The objective of the Plan of Allocation is to equitably distribute the settlement proceeds to those Class Members who have suffered an economic loss as a proximate result of the alleged wrongdoing. The Plan of Allocation generally estimates the amount of loss that a Class Member could claim for purposes of making pro-rata distributions from the Net Settlement Fund (“Recognized Claims”). As described herein, each Class Member’s pro-rata share of the Net Settlement Fund shall be determined based upon each Class Member’s “Recognized Claim.” The Plan of Allocation is not a formal damages analysis. Rather, it represents Plaintiffs’ Counsel’s considered and informed good faith effort to allocate the Net Settlement Fund in an equitable and efficient manner. The Recognized Claims determined under the Plan of Allocation are not intended to estimate, nor be indicative of, the amount that a Class Member might have been able to recover after trial. Nor are the Recognized Claims determined under the Plan of Allocation intended to be estimates of the amount that will be paid to a Class Member pursuant to the Settlement. The computations under the Plan of Allocation are only a method to weigh the claims of Class Members against one another for the purposes of making pro-rata distributions from the Net Settlement Fund. The Recognized Claim formula is the basis upon which the Net Settlement Fund will be proportionately allocated to Class Members.

    During the litigation, Wells Fargo produced to Plaintiffs loan level data reflecting assessments, waivers, and certain payments and credits of property inspection fees and other charges with respect to more than 2.7 million loans belonging to Class Members. These loans were categorized as (A) Active – i.e., loans with an unpaid principal balance greater than zero; (B) Paid-In-Full – i.e., loans that were paid-in-full by the borrower; or (C) Post-Sale – i.e., loans with respect to which there had been a foreclosure sale, short sale, deed-in-lieu, or charge-off. In addition, property inspection fees were coded by Wells Fargo as either (A) “Fee Code 4,” which generally corresponds to inspection fees charged to loans in delinquency status; or (B) “corporate advance,” which generally corresponds to inspection fees charged to loans that were in foreclosure status.

    The formula for calculating a Class Member’s Recognized Claim for loans in each of these categories is as follows:

    1. For Active Loans, the Recognized Claim is the sum of (i) all subsequent 1 Fee Code 4 inspection fees assessed, plus (ii) 50% of all subsequent corporate advance inspection fees assessed, plus (iii) 10% of all initial Fee Code 4 and initial corporate advance inspection fees assessed, less any credits or waivers of such fees, to the extent such assessments, credits or waivers may be determined from the loan level data produced by Wells Fargo. 2
    2. For Paid-In-Full Loans, the Recognized Claim is the sum of (i) all subsequent Fee Code 4 inspection fees paid, plus (ii) 50% of all subsequent corporate advance inspection fees paid, plus (iii) 10% of all initial Fee Code 4 inspection fees paid and initial corporate advance inspection fees paid, less any credits or waivers of such fees, to the extent such payments, credits or waivers may be determined from the loan level data produced by Wells Fargo.
    3. For Post-Sale Loans, the Recognized Claim will be based on submission of an approved claim form and will be the sum of (i) all subsequent Fee Code 4 inspection fees paid, plus (ii) 50% of all subsequent corporate advance inspection fees paid, plus (iii) 10% of all initial Fee Code 4 and initial corporate advance inspection fees paid.

    Each Class Member shall be allocated a pro-rata share of the Net Settlement Fund based on his or her Recognized Claim compared to the Total Recognized Claims of all Class Members. The pro-rata shares shall be determined by multiplying each Class Member’s “Recognized Claim” by a fraction, the numerator of which shall be the amount of the Net Settlement Fund and the denominator of which shall be the Total Recognized Claims of all Class Members.

    Distributions will be made to Class Members after all claims have been processed and after the Court has finally approved the Settlement. Checks issued to Class Members will remain valid for a period of ninety (90) days after issuance but will be canceled as stale after such period. If there is any balance remaining in the Net Settlement Fund, by reason of un-cashed checks or otherwise, six months after the initial distribution, such funds shall be re-distributed to eligible Class Members who have cashed their initial distributions and who would receive, based on their Recognized Claim, a pro-rata share of at least $25.00 from such re-distribution, after payment of any unpaid costs or fees incurred in administering the Net Settlement Fund for such re-distribution. If, six (6) months after such redistribution, any funds remain in the Net Settlement Fund, then such balance shall be contributed to the United Way, with the funds earmarked for financial education classes.

    Plaintiffs, Defendants, their respective counsel, and all other Released Parties shall have no responsibility or liability whatsoever for the investment or distribution of the Settlement Fund, the Net Settlement Fund or any portion thereof, the Plan of Allocation or the determination, administration, calculation, or payment of any Proof of Claim or non-performance of the Claims Administrator, the payment or withholding of taxes owed by the Settlement Fund or any losses incurred in connection therewith.

    1 An inspection is deemed to be an “initial” inspection if no other inspection was assessed within the preceding sixty (60) calendar days. An inspection within sixty (60) calendar days of a prior inspection is deemed a “subsequent” inspection.

    2 These percentages reflect Plaintiffs’ Counsels’ assessment of the risk Plaintiffs faced in prevailing on their claims that Wells Fargo’s assessment of inspection fees was unlawful. It is Plaintiffs’ Counsels’ view that this risk arguably varied depending upon whether the inspection was an initial or subsequent inspection and whether the loan in question had reached foreclosure status.


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