![]() If you do nothing and you receive an award, you will be giving up rights you may have to separately sue the "Released Parties" (as defined by paragraph 1.38 the Settlement) for legal claims released by the Settlement. Your legal rights are affected whether you act or do not act. The Settlement will provide for a fund of $570,000 to pay for a portion of the late fees that were assessed and paid, plus attorneys' fees and disbursements to be approved by the Court, an enhancement payment to the Class Representatives and the costs of administrating the Settlement. ![]() The Court has, however, preliminarily approved the settlement which affects your legal rights and you have a choice to make now. 183 § 59 ("Section 59") by assessing late fees on payments that plaintiffs’ allege would have been timely and sufficient but for EMC's practice of applying payments received to the oldest outstanding installment due.Īn example of the alleged conduct, based on plaintiffs' interpretation of Section 59, is as follows: If a borrower failed to make a payment in January and had a late fee assessed, and the borrower subsequently made one full payment, EMC would credit the payment for January and assess a second late fee for non-payment of the February bill.ĮMC denies Plaintiffs' allegations and interpretation of Section 59, and denies any liability or wrongdoing, and the Court has not decided whether EMC did anything wrong. Mass.), involving claims that EMC Mortgage LLC, formerly known as EMC Mortgage Corporation ("EMC"), violated Mass. You May be Entitled to Receive Compensation Under this Class Action Settlement.Ī settlement (the "Settlement") has been reached in a class action lawsuit entitled Robert L. United States District Court For The District Of Massachusetts, Eastern Division
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