Sarah Mirando  |  November 16, 2012

Category: Closed Class Actions

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Award (how much your claim may be worth): You can receive a cash refund from the AmeriSave Mortgage class action settlement.

 

 

Class Action Lawsuit Settlement Case(s):  Sonoda et al. v. AmeriSave Mortgage Corporation, Case No. 11-cv-1803 EMC, U.S. District Court, Northern District of California, San Francisco

 

Company(ies): AMERISAVE MORTGAGE CORPORATION

AmeriSave Mortgage

 

 
 
 
 
 
 
Website of the Class Action Lawsuit Settlement Administrator (FILE YOUR CLAIM HERE): www.AmeriSaveMortgageSettlement.com

 

Address to submit a claim form (NOT REQUIRED):

 

You do not need to file a claim to receive money from the AmeriSave class action lawsuit settlement. AmeriSave has records of its customers and the payments they made.

 

Phone Number to call for assistance: (866) 905-8102

 

Details:The AmeriSave settlement will resolve a class action lawsuit, titled Sonoda, et al. v. AmeriSave Mortgage Corp., that accuses AmeriSave of misleading consumers seeking to lock in mortgage rates and then failing to lock in those rates. Additionally, the class action lawsuit claims AmeriSave broke the law by requiring consumers to pay a property appraisal fee before providing a Good Faith Estimate, making consumers who wanted to withdraw their application with AmeriSave pay a cancellation fee, and charging a credit check fee that exceeded the amount of AmeriSave’s cost to obtain the credit check.

AmeriSave denies any wrongdoing but has agreed to a $3.1 million class action lawsuit settlement to resolve the litigation.

Class Members of the AmeriSave class action settlement include all customers of AmeriSave who applied for a mortgage loan and did not obtain one, and (1) paid a property appraisal fee between August 18, 2008 and October 12, 2012, (2) paid a cancellation fee between August 8, 2007 and June 5, 2012, and/or (3) paid a credit check fee that exceeded the amount of AmeriSave’s cost to obtain the credit check between July 30, 2009 and May 9, 2011.

Under the proposed AmeriSave class action lawsuit settlement, Class Members can receive a percentage refund of any of the three fees they paid, based on the amount of money available in the Settlement Fund. This percentage may change, but based on current estimates, the percentage is approximately 13.573%. So, for example, if you paid a cancellation fee of $500, you would receive $67.87. If you paid a property appraisal fee of $300, you would receive $40.72. If you paid a credit check fee overcharge of $25, you would receive $3.39. If you paid two or three of those fees, you would receive those amounts added together.

Class Members of the AmeriSave class action settlement will automatically receive a check by mail unless they exclude themselves by the deadline of January 11, 2013. No Claim Form is required to receive benefits. AmeriSave has records of its customers and the payments that they made.

A Final Fairness Hearing is scheduled for February 28, 2013.

More information on your rights in the AmeriSave Mortgage Class Action Lawsuit Settlement can be found at www.AmerisaveMortgageSettlement.com.

Purchased or Leased From: 

Paid a property appraisal fee: August 18, 2008 to October 12, 2012

Paid a cancellation fee: August 8, 2007 to June 5, 2012

Paid an improper credit check fee: July 30, 2009 to May 9, 2011

 

Claims must be postmarked by: No claim form necessary

 

Settlement Administrator(s): A.B. Data, Ltd.

 

Class Counsel:

 

THE STURDEVANT LAW FIRM

 

MEHRI & SKALET, PLLC

 

DONOVAN AXLER, LLC

 

RUKIN HYLAND DORIA & TINDALL

 

Defense Counsel:

 

KILPATRICK TOWNSEND & STOCKTON LLP


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One thought on AmeriSave Mortgage Class Action Lawsuit Settlement

  1. hector castilla says:

    I received a check for the settlement I didn’t know existed ! I have questions and would like to talk to a live person . I have made attempts to contact you and o far have not been successful. my number is 509-941-9889

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