Caliber Mortgage Payment Settlement of $ 5 Million Comes Prematurely


July 20, 2021 6:52 PM

Homeowners who claim Caliber Home Loans Inc. improperly charged commissions in excess of mortgage payments, and received prior approval from a federal judge in Minnesota for a proposed $ 5 million settlement with the company.

According to a statement filed with the U.S. District Court for the District of Minnesota, the settlement will create a general fund and resolve claims that Caliber charged a processing fee when borrowers paid mortgages over the phone, via interactive voice response, or online.

Plaintiffs allege that the fees violated the laws of the states of Minnesota, North Carolina and Texas, as well as their mortgage agreements. Caliber denies any wrongdoing, but agreed …

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