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Motto sues UMortgage for ‘tortious interference’ in franchise contract

Housing Wire

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 368
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FirstFunding sues Sprout for breaching of contract

Housing Wire

On August 5, about one month after Sprout shutting down, the parties executed a new agreement saying FirstFunding “is permitted to immediately exercise all of its rights,” including FirstFunding receiving mortgage loan proceeds directly from Sprout or any borrower, according to documents attached to the lawsuit.

Contracts 375
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Guild asks judge to confirm $10.7M award in poaching dispute against ex-employees

Housing Wire

The lender asserted claims for breach of contract, fraud, unfair competition and tortious interference, among others. According to the document, the award arises from “Defendants’ breaches of their employment agreements and violations of their other legal duties during their employment in Washington.”

Legal 399
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Ginnie Mae fires back over RMF lending suit, seeks case dismissal

Housing Wire

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.” 31, 2022, special requirements for HECM reverse mortgage loan pools, TCB’s tail agreement and documents from RMF’s bankruptcy case unfolding in the U.S.

Lending 391
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loanDepot accuses ex-COO Tammy Richards of stealing customers’ information

Housing Wire

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. loanDepot filed the lawsuit on Oct.

Contracts 364
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Real estate commission dispute? Do this.

Housing Wire

A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. Consider the following, fairly common scenario and the result: A seller signs a listing contract with a real estate brokerage for six months. A seller-client cancels a listing.

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HomeServices asks Supreme Court to apply arbitration to Sitzer suit

Housing Wire

In a court document filed on Friday, HomeServices of America told the Supreme Court that each HomeServices of America client contract states that the “signatories can arbitrate any claim or dispute arising out of the contract.”

Contracts 389