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Who is covered by the settlement?
All consumers on the list of 14,210 transactions that Wells Fargo produced on or about
September 15, 2009, who
entered into mortgage loan transactions concerning property
located in Maryland where: (1) the Mortgage Broker is also
identified as the mortgage
lender in the operative documents relating to the transaction; (2) the Mortgage Broker
received a finder’s fee as that term is defined in Md. Com. Law Code Ann. §12-801(c);
and (3) Wells Fargo
funded the mortgage loan at settlement.
Excluded from the Settlement Class are all former
and present directors, officers and agents as well as
all current employees of Wells Fargo.
Who are the attorneys representing the Class?
The following attorneys have been
appointed by the Court as Class Counsel: Richard S. Gordon (Lead Counsel) Benjamin H. Carney
QUINN, GORDON & WOLF, CHTD.
102 West Pennsylvania Avenue,
Suite 402
Baltimore, MD 21204
Nevett Steele, Jr.
P.O. Box 128
211 Central
Avenue
Glyndon, Maryland 21071
Phillip Robinson
CIVIL JUSTICE, INC.
520 West Fayette Street
Baltimore, MD 21201
What should I expect to recover if I am a Class Member in Taylor? The Defendant has agreed to create a Settlement Fund in the sum of $7 million to settle
this case. If the settlement
is approved, the Settlement Fund will provide you and each Class member,
by check, a refund of approximately $492.00
per transaction less a proportionate share for Plaintiffs’
Counsel’s attorneys’ fees, incentive fee
paid to the representative Plaintiffs, and
other expenses as awarded by the Court. Only one check will be issued
per loan.
What are my rights and options as a Class Member? 1.
You will be a member of the Class unless you request to be excluded (see paragraph 4
below). Your interests as a member
of the Class will be represented by the Representative Plaintiffs
and the above-listed Plaintiffs’ Counsel. You
will not be billed for their services. Plaintiffs’ Counsel will
receive a fee only if the Court approves the Settlement
Agreement, and the fee award will be set by the
Court and paid from the Settlement Fund. 2. If you do nothing and remain a member of the Class, you will be bound by any judgment or other final disposition
of this case, including the release of claims as provided in the Settlement Agreement. A summary of the effect of the
Settlement Agreement, including the release of claims, is outlined in the Notice of Pendency of Class Action, Proposed Settlement, and Hearing, which is available here. 3. You may file an objection to the settlement, and/or seek to appear, by yourself or through counsel,
at the final hearing of this case. You also may retain your own counsel to represent you at your own cost, and seek to
appear individually or intervene in the case. Please consult the Notice of Pendency of Class Action, Proposed Settlement, and Hearing for important deadlines and other requirements for objections, appearances, and intervention. 4. You may request
exclusion, or “opt-out,” from the Class. If you elect to be excluded from the Class, you will not be bound
by any judgment or settlement of the lawsuit, nor will you receive any of the benefits of this class action, including
the payment of any money. Rather, you will retain and be free to pursue any claims that you may have on your own behalf.
If you wish to exclude yourself from the Class, you must mail a written request for exclusion to the Settlement Administrator
at the following address:
Taylor Settlement Administration
P.O. Box 11943
Birmingham, AL 35202-1943
800-370-3548
Requests for exclusion do not need to be in any particular format, except that the request
must state that
you intend to “opt-out” or request “exclusion” from the Class and must be signed
personally and contain
the full name, current address, and telephone number of the person requesting exclusion. The written
request for exclusion must be sent by U.S. mail, first class and postage prepaid postmarked on
or before March 29,
2010. Only you can request exclusion. No one can request exclusion for
another person, except in cases of disability,
guardianship or conservatorship.
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