Wells Fargo agreed to pay $12 million to more than 1,800 mortgage borrowers to resolve a class action lawsuit that alleged the bank’s clients had loan modifications wrongfully denied due to calculation errors in the bank’s system.

A judge from the U.S. District Court for the Southern District of Ohio approved the settlement on Tuesday after a hearing between the parties.

A spokesperson for Wells Fargo, the largest depository residential mortgage lender in the U.S., told HousingWire that the bank is “pleased to be able to put this lawsuit behind us” but had no more comments to add details ⇒

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