On May 22, 2015, Judge Finaman of the Superior Court of New Jersey in Cumberland County granted final approval of a proposed class action settlement on behalf of thousands of consumers in New Jersey who brought claims of alleged recording fee overcharging against Title Source, Inc. (Title Source). The class action lawsuit alleged that Title Source violated the New Jersey Consumer Fraud Act by collecting mortgage and deed recording fees at New Jersey real estate closings or refiancnes from consumers that were higher than allowed under New Jersey law. Title Source denied the allegations, but was in agreement to resolve the case.
The class settlement establishes a procedure whereby class members can submit a claim form to have their Settlement Statements (HUD-1) on file with Title Source reviewed by a third party claims reviewer. Any class member who submits a completed claim form and who are found to have been overcharged will receive relief as set forth in the Settlement Agreement if it is determined they were overcharged.
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