Housing Wire

JANUARY 10, 2024

The lender asserted claims for breach of contract, fraud, unfair competition and tortious interference, among others. After about one year, in September 2023, an arbitrator issued and signed Guild’s award, but the company said the defendants “have not complied” nor “indicated that they will do so.”

Legal 397

Legal Lending Contracts Mortgage 397

Housing Wire

APRIL 9, 2024

In the past few weeks, seven agents formerly affiliated with Keller Williams — Jerri Moulder, David Bueker, Robert Hill, Kevin Ortiz, Edward Fordyce, Paul Davis, and Penny Alper — took legal action against the real estate brokerage by filing seven separate class-action lawsuits.

Brokerage 418

Brokerage Agents Legal Real Estate 418

Housing Wire

APRIL 24, 2024

million it incurred in fourth-quarter 2023. million in Q4 2023 but up from a pretax loss of $19.6 million in Q1 2023. Meanwhile, the revenue growth compared to Q1 2023 was largely due to higher overall origination volumes and margins. billion on March 31, up 3% from the end of Q4 2023 and up 18% from the end of Q1 2023.

Lending 391

Lending Legal Contracts Mortgage 391

Housing Wire

APRIL 4, 2024

Davis — took legal action against the real estate brokerage by filing six separate class-action lawsuits. Alper’s complaint challenges adjustments made to Keller Williams’ profit-sharing program and includes charges of breach of contract, declaratory judgment and unjust enrichment. Moulder, David L. Bueker, Robert E.

Brokerage 335

Brokerage Legal Agents Contracts 335

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 367

Buyers Contracts Agents Realtors 367

Housing Wire

JANUARY 3, 2024

Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. million and liquidated damages for the company’s breach of contract. In total, he asks for about $13 million.

Contracts 373

Contracts Legal Mortgage 373

Housing Wire

APRIL 17, 2024

In a writ of certiorari filed in early February, HomeServices told the Supreme Court that each of its client contracts state that the “signatories can arbitrate any claim or dispute arising out of the contract.” There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 381

Contracts Brokerage Law Real Estate Agent 381

Housing Wire

MAY 10, 2024

In 2023, NAR announced a policy change that allows the finance committee to use the Consumer Price Index (CPI) “as a guide” to help it recommend an annual dues amount to the board of directors. In 2023, NAR raised dues from $150 to $156. million for the first time since May 2021. represent themselves 2. represent themselves 2.

Realtors 330

Realtors Finance Agents Legal 330

Housing Wire

MARCH 19, 2024

Since announcing its controversial “All-In” initiative in March 2021, UWM has been in legal battles with its broker partner that send loans to Rocket and Fairway. America’s MoneyLine (AML) and Mid Valley Funding in February 2022 for alleged breaches of contract by continuing to selling loans to Rocket and Fairway.

Mortgage 328

Mortgage Law Brokerage Legal 328

Housing Wire

NOVEMBER 7, 2023

loanDepot , the California-based lender targeting profitability next year, delivered its sixth consecutive quarterly loss in the third quarter of 2023, according to documents filed with the Securities and Exchange Commission (SEC) on Tuesday. billion in the second quarter of 2023. 30, 2023, from $142.5 billion as of Sept.

Legal 407

Legal Contracts Real Estate Mortgage 407

Housing Wire

FEBRUARY 5, 2024

In late October 2023, a Missouri jury found HomeServices of America, as well as Keller Williams and the National Association of Realtors , liable for colluding to artificially inflate real estate agent commissions. There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 388

Contracts Brokerage Law Real Estate Agent 388

Housing Wire

JANUARY 11, 2024

TCB’s contract with RMF and the bankruptcy court order also expressly stated that TCB’s right to a lien was subject to GNMA’s extinguishment rights.” These include TCB’s assertion that in March 2023, “the FHA’s current Commissioner, who also holds the title of Assistant Secretary of Housing And Federal Housing Commissioner at [the U.S.

Lending 389

Lending Government Legal Law 389

Housing Wire

MARCH 28, 2024

In November 2023, Wood indicated that the trial would take place in the fourth quarter of 2024 , but the status report findings appear to change the timeline. The suit obtained class certification in March 2023. The appeals court said that this was because the contracts signed by the sellers were not directly signed by HomeServices.

Real Estate Agent 357

Real Estate Agent Realtors Real Estate Sellers 357

Housing Wire

FEBRUARY 26, 2024

Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. 21 in the U.S. the Nationwide Multistate Licensing System (NMLS) showed.

Retail 395

Retail Legal Lending Business 395

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. 17, 2023, in the Superior Court of the State of California for the County of Orange.

Contracts 362

Contracts Legal Retail Training 362

Housing Wire

JANUARY 18, 2024

According to the complaint, Myers resigned from her position at Qualia in May 2023, after she “secretly” interviewed for an accepted the position at Settlor. 1, 2023, to remind her of her agreement to keep any confidential information and trade secrets private, which it says she ignored. 1, 2023, in an effort to resolve matter.

Contracts 393

Contracts Government Business Marketing 393

Housing Wire

MARCH 29, 2024

In its motion filed on Wednesday, CMLS said its amicus curiae brief is in repsonse to the Department of Justice’s statement of interest which was filed in early February in relation to the proposed settlement agreement reached by the Nosalek plaintiffs and defendant MLS Property Information Network in July 2023.

Sellers 418

Sellers Real Estate Buyers Contracts 418

Housing Wire

JUNE 6, 2023

Mat Ishbia , UWM president and CEO, said in a statement, “It’s very unfortunate to see a company like Mid Valley breach their contract, but we’re going to continue to do what’s right for the broker community.” The reality is if a broker breaks the contract and if they have, we will address it, and we will win,” he said in a statement.

Brokerage 340

Brokerage Contracts Legal Business 340

Housing Wire

FEBRUARY 5, 2024

However, if the contract was terminated with cause – which includes cases of fraud or breach of fiduciary duty, among others – he would not receive the severance compensation. ” The letter states Seely committed to a recruitment budget of approximately $360 million by the third quarter of 2023 but reached $71 million. 2 in a U.S.

Retail 383

Retail Contracts Loan Officers Mortgage 383

Housing Wire

MARCH 19, 2024

billion in damages awarded by a jury in late October 2023. 1, 2023) at the rate of 5.4% Supreme Court and asked for a review of an August 2023 ruling by the Eight Circuit Court, which found that HomeServices could not enforce arbitration agreements signed by seller clients of its franchisees. billion in damages this fall.

Sellers 341

Sellers Realtors Law Contracts 341

Housing Wire

MARCH 28, 2024

The DOJ’s statement of interest, which was filed in mid-February, was in relation to the settlement agreement reached between the Nosalek plaintiffs and MLS Property Information Network (MLS PIN) in July 2023.

Sellers 352

Sellers Contracts Buyers Realtors 352

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. billion in the first six months of 2023, according to data from Inside Mortgage Finance. The lender originated $10.6

Loan Officers 384

Loan Officers Legal Real Estate Lending 384

Housing Wire

MARCH 27, 2024

2023, denied the HomeServices defendants’ motion to decertify the class. In its filing, HomeServices asked for a review of an August 2023 ruling by the Eight Circuit Court, which found that HomeServices could not enforce arbitration agreements signed by seller clients of its franchisees.

Law 370

Law Sellers Realtors Contracts 370

Lamacchia Realty

MAY 6, 2024

This agreement is a binding contract that outlines the rights and obligations of the buyer and seller during the whole buying process. Their job is to pay close attention to every detail to make sure the agreement i ncludes all the legal requirements. This search determines if the seller has the legal right to sell the property.

Real Estate 70

Real Estate Legal Law Contracts 70

Housing Wire

AUGUST 30, 2023

million in the first half of 2023, an improvement from nearly $400 million in the same period last year, according to its 8-K filing with the Securities and Exchange Commission (SEC) on Monday. billion across 4,768 loans in the first six months of 2023. Among the $2.1 million, Meredith alleged. billion.

Advertising 380

Advertising Finance Contracts Mortgage 380

Housing Wire

MAY 1, 2024

While Zillow’s net loss of $23 million for the quarter, which was up from its net loss of $22 million in Q1 2023, did not necessarily reflect Barton’s confidence, the firm’s 13% annual increase in revenue to $529 million did. We are advantaged primarily because we are a product and technology company first.”

Agents 357

Agents Real Estate Contracts Real Estate Agent 357

GoForrmz

DECEMBER 15, 2023

New Feature] eSignature Fields: Collect Legally Binding eSignatures and Initials What’s New? Use our E-SIGN Act and UETA-compliant electronic signature fields to ensure your contracts and digital documents are legally binding. Now GoFormz offers two different types of signature capture capabilities.

Legal 78

Legal Design Contracts Construction 78

Housing Wire

APRIL 4, 2024

The complaint states that Jutla is bringing the action against Redfin “for unlawfully agreeing and conspiring to enact and enforce anticompetitive restrictions on Realtors contracting behavior, causing the Plaintiff to pay inflated buyer’s agent commissions on the sale of her home, as well as tandem purchase of a home in California.”

Realtors 346

Realtors Agents Sellers Real Estate 346

Housing Wire

APRIL 18, 2024

G-Rate replied to emails as if she was still an employee and sent customers mailers with her name and National Multistate Licensing System (NMLS) number in January and March 2023, she claims. She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts.

Loan Officers 411

Loan Officers Human Resources Contracts Mortgage 411

Housing Wire

MAY 6, 2024

The law at the center of the suit came into effect on July 1, 2023, and it “generally restricts the issuance of government contracts or economic development incentives to, or real property ownership by, foreign principals, which are certain individuals and entities associated with foreign countries of concern,” according to the Florida Senate.

Law 312

Law Real Estate Real Property Contracts 312

Housing Wire

MAY 3, 2024

transaction sides in 2023, more than double the average of other agents. Amy Lessinger , the newly appointed president of RE/MAX, attributed at least some of declining domestic agent count to the overall industry contraction. million in Q1 2023. He noted that the average RE/MAX agent closed 11.8 annualized decline in U.S.

Agents 348

Agents Real Estate Training Buyers 348

Housing Wire

FEBRUARY 7, 2023

The decision on the new board member will be made in the company’s 2023 annual stockholders’ meeting, during which Hsieh intends to vote all of his shares in favor of Ozonian. Like its peers, loanDepot is struggling amid a contracting mortgage market. The California-based lender reported a $137.5

Real Estate 321

Real Estate Legal Contracts Mortgage 321

Housing Wire

DECEMBER 7, 2023

24, 2023, Qualia informed Stewart that in an effort to “modernize” the “old legacy contracts” Adeptive had entered, it would be terminating the ResWare licensing agreement Stewart had entered with Adeptive on Jan. The firm estimates that roughly 4,000 Stewart employees use the software on a daily basis.

Modernization 363

Modernization Business Contracts Design 363

Housing Wire

FEBRUARY 22, 2024

In early September 2023, Steve Murray , the co-founder of RealTrends Consulting , told HousingWire that he believed this was a possible outcome. This way it is all part of the sales contract, and the buyer doesn’t have to come out of pocket to actually pay the broker, just like it is today,” Tozer said. “In

Sellers 414

Sellers Buyers Real Estate Agents 414

Housing Wire

NOVEMBER 3, 2023

We see some that needed one more good market that maybe would have retired 10 years ago but stayed in the business a little longer than they would have who are now leaving,” Nick Bailey , RE/MAX’s president, told investors and analysts during the firm’s third quarter 2023 earnings call Friday. “In about half the U.S.,

Realtors 413

Realtors Agents Brokerage Contracts 413

Housing Wire

AUGUST 31, 2023

According to the filing, after the franchisees signed a contract, the defendants then required franchisees to adopt KWRI’s present market cap, which is the fee agents pay their market centers. In the filings, which name Keller Williams , Keller, former KW president Josh Team, Business MAPS Ltd. Davis has ignored those courts.

Contracts 402

Contracts Brokerage Business Training 402

Housing Wire

DECEMBER 20, 2023

Mike said he left that lender in early 2023 as a result of the ‘bucket game’ and refuses to manipulate where lead sources are coming from at his current shop. It’s the ultimate in legalized fraud. In and of itself, it’s legal, provided the lead really did come from the source and it’s diligently tracked by the lender.

Loan Officers 446

Loan Officers Clients Law Legal 446