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Caliber $5 Million Settlement Over Mortgage Fees Gets Early OK

July 20, 2021, 6:52 PM

Homeowners who say Caliber Home Loans Inc. improperly charged fees on top of mortgage payments received a Minnesota federal judge’s preliminary approval of a proposed $5 million settlement with the company.

The settlement will create a common fund and will resolve claims that Caliber charged processing fees when borrowers paid their mortgage by telephone, interactive voice response, or online, according to the filing in the U.S. District Court for the District of Minnesota.

Plaintiffs say the fees violated state laws in Minnesota, North Carolina, and Texas, and it breached their mortgage agreements. Caliber denies any wrongdoing, but it has agreed ...