Wells Fargo mortgage kickback case remains shut
Judge refuses to grant new trial
According to Law360, a Maryland judge refused to grant a new trial to plaintiffs in a class action case in which the parties accuse Wells Fargo (WF) of being linked to a mortgage referral kickback scheme. The legal website elaborated on the judge's decision:
U.S. District Judge William M. Nickerson rejected the plaintiffs' arguments that they should get a new trial on the issue of whether Long & Foster Inc. referred or affirmatively influenced them to use Prosperity Mortgage Co. — a joint venture between a predecessor of Wells Fargo and Long & Foster — for the provision of settlement services.
According to the plaintiffs, the jury's finding that there were no referrals was against the clear weight of the evidence, and the referral issue should not have been submitted to the jury in the first place since the plaintiffs were only seeking damages on their claim that Prosperity was a sham” provider of settlement services.