Class Action Settlement Approved in Mortgage Prepayment Case

The United States District Court for the District of Minnesota has granted final approval of a settlement in the case of Zellner-Dion v. Wilmington Finance, Inc., a class action involving mortgage prepayment penalties. The plaintiff had alleged that Wilmington Finance, Inc. charged home mortgage borrowers prepayment penalties that violated Minnesota law. The settlement included significant refund payments to borrowers who paid mortgage prepayment penalties, as well as payments to Habitat for Humanity and Mid-Minnesota Legal Assistance.

A full copy of the order is available here.