Judge Dismisses Man's Class Action Suit Over Reverse Mortgages

Judge Dismisses Man's Class Action Suit Over Reverse Mortgages

SAN FRANCISCO - A federal judge in California on Jan. 3 dismissed with prejudice a man's class action lawsuit against Wells Fargo Bank N.A. and the Federal National Mortgage Association (Fannie Mae), after finding that the deed to a reverse mortgage his mother obtained before her death did not require the defendants to provide him with notice or the opportunity to purchase the property at 95 percent of its appraised value (Robert Chandler, et al. v. Wells Fargo Bank N.A., et al., No. 11-03831 SC, N.D. Calif.; 2014 U.S. Dist. LEXIS 1122).

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