The Wells Fargo COVID mortgage forbearance settlement was effective from 15 February 2025, and automatic payment distribution began from March 2025. Now the class member awaits the supplemental payment distribution.
The lawsuit claims Wells Fargo has put some customers on forbearance without consent when they expressed or made an inquiry about hardships. The defendant denies any wrongdoing, but agreed to resolve the litigation with a $185 million settlement.
United States residents who had Wells Fargo mortgage services and were placed into COVID forbearance without authorization between 01 March 2020 and 31 December 2021 have already received the automatic payment. Now, the supplemental payout will be processed from the remaining funds for additional damages.
When can you expect the Wells Fargo COVID forbearance Settlement supplemental Payout?
The Wells Fargo settlement automatic, and the co-borrower payment distribution began in March 2025, and most of the class members must have received the payment of up to $83.33 from the $89 million first fund of the total $185 million.
The class members who have filed the claim form before the deadline of 10 January 2025, for additional payments if they have suffered additional damages. The settlement administrator is still reviewing the supplemental claim, and it is being processed.
The administration has not updated the exact payment distribution date, but we can expect it to reach the valid claimants soon. You can expect the supplemental claim payment before the end of 2025 if your claim is approved. If the administration needs more information to approve your claim, they will send you a Defect letter.
What will be the Wells Fargo COVID forbearance settlement payout?
The total fund for the Wells Fargo COVID forbearance was $185 million, from which $89 million was used for the automatic payments based on the number of mortgages placed in forbearance. The co-borrower’s automatic payment was $83.33 for the associated mortgage account.
The settlement fund will also be used for other expenses, such as administration costs, attorney fees & cost, and service awards. Now, the remaining settlement fund will be used for the supplemental claims for damages caused due to the at-issue forbearance.
The payout under the supplemental claim is not determined as it depends on the damage, such as delayed refinancing, reduction, or denial of personal credit lines, lost income, and others. So, the amount may vary from one person to another.
How to get your Wells Fargo COVID forbearance settlement payout status?
If you are wondering whether your Wells Fargo COVID forbearance settlement claim is approved or not, to be sure of your supplemental claim, you can check the status in the following ways:
- Call: You can reach out to the settlement administrator by calling at toll-free number 1888-204-8399 and asking the operator about their claim through the class member ID or claim ID.
- Mail: You can also write a letter to the settlement administrator about your query at the following address, and they will respond to you:
- Wells Fargo Forbearance Litigation
- Settlement Administrator PO Box 2794
- Portland, OR 972018-2794
What to do if you wish to change the settlement information?
If your payment information has changed or you wish to elect another payment method, you should do it before the distribution begins in the following ways:
- Mail: You can write the mail about the change information to the settlement administrator and post it at the mentioned address.
- You can also call the toll-free number and ask for further assistance to update your information, or it can affect your payment.
There is no online option or method to update changed information; hence, if you have any, do it on time, otherwise, you can miss your settlement payout.
The Wells Fargo COVID-19 forbearance settlement supplemental claim is yet to be distributed; hence, if you have claimed this year, wait for the update from the settlement administrator, as they will inform you about when the distribution begins.
If you are wondering if a supplemental claim gets affected by the automatic payment, then do not worry, it will not if you have filed the valid information under the additional damages. Remember, if the administration needs new information to process your payout, they will send the letter, so be vigilant to get the appropriate payment.
Disclaimer: Wells Fargo forbearance settlement info is informational; official sources confirm payouts.
