Dorado BANA Settlement
- Class Members can complete filing online
- Administrator can be contacted for details
When homeowners feel like they have been wronged regarding an aspect of their mortgage an uproar is sure to ensue. For certain homeowners that had mortgages held by Bank of America, N.A. (BANA) the uproar has come in the form of a class action lawsuit. Dorado v. Bank of America, N.A. has recently come to settlement terms resolving allegations that BANA breached contract and violated an FHA regulation. BANA denies liability for all claims made in the lawsuit but has agreed to settle the matter for an astonish $29 MILLION. It should be noted that this huge settlement amount will divided among 2 different groups ($17 million allocated to Group 1 and $12 million allocated to Group 2). Those who want to learn more about the details of the settlement can review the information posted online at the Dorado BANA Settlement page.
Important Dates Regarding the Dorado BANA Settlement
- Class Members who can’t stand (or even just dislike) the settlement can retain their rights to sue by sending an exclusion request in writing by February 7th, 2017
- The date of February 7th, 2017 is also the deadline for Class Members who wish to object to the settlement (objections must also be sent in writing by the deadline)
- Class Members who would like to do a bit of grand-standing can make themselves known by showing up at the Fairness Hearing to be held on March 23rd, 2017
- Dorado BANA Settlement Class Members who decide to attend the Fairness Hearing must make sure a Notice of Intention to Appear is filed by March 3rd, 2017
Class Members who sit by idly and do nothing at all will still receive payment pursuant to the settlement agreement (but will release BANA from further individual action). Those who need help sorting through all of the finer details should think about placing a phone call to the Administrator.
Dorado BANA Settlement Administrator