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Prudential Fox & Roach Realtors Administrative Fee Class Action Settlement
By Mike Holter
Prudential Fox & Roach Realtors has reached a class action lawsuit settlement for illegally charging Administrative Fees on closing documents. As a result, anyone who purchased residential real estate in New Jersey between 2005 and 2009 and were charged an Administrative Fee by Prudential Fox & Roach Realtors may be able to receive a partial refund from the class action settlement.
The Prudential Fox & Roach (“PFR”) settlement will resolve a class action lawsuit, entitled Blasini v. Prudential Real Estate Affiliates, Inc., et al., that alleges PFR charged an Administrative Fee on some mortgage loans despite providing no separate services in connection to the fee.
Class Members of the PFR administrative fee settlement include all persons or entities who purchased residential real estate in New Jersey between March 16, 2005 and December 31, 2009 and were charged an Administrative Fee in connection to that purchase on a “federally related mortgage loan.” You can determine if you are a Class Member by reviewing your closing documents, specifically your HUD-1 Form (commonly referred to as a settlement sheet) at lines 700 – 704. If between February 25, 2005 and December 31, 2008 you paid an Administrative Fee to PFR, you may be a Class Member.
Under the proposed PFR administrative fee class action settlement, Class Members who submit valid claim forms and documentation showing they paid PFR an Administrative Fee will be entitled to recover the amount of one-third of the Administrative Fee they paid. To participate in the class action settlement, you must mail your claim form and supporting documentation to the Settlement Administrator postmarked on or before October 5, 2011.
Claim forms and more information on your rights in the Prudential Fox & Roach Realtors Administrative Fee Class Action Lawsuit Settlement can be found at www.PFRClassSettlement.com.
Updated August 17th, 2011
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