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Real estate brokerage Radius unveils mortgage-lending arm

Housing Wire

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Presented by: Axis Technical Group.

Brokerage 397
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UWM and broker shop Mid Valley settle ‘ultimatum’ lawsuit

Housing Wire

The settlement, reached on June 5, dismissed the lawsuit with prejudice, requiring Mid Valley to pay $40,000 to UWM, as the brokerage firm acknowledges that it sent loans to Rocket and/or Fairway after the ultimatum was in effect. The lender also sued Californian brokerage shop Kevron Investments Inc.

Brokerage 357
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Judge denies HomeServices’ motion for ‘judgment as a matter of law’ in Sitzer suit

Housing Wire

She said that HomeServices does not meddle in operations, give advice, or advise on commissions or how the brokerage approaches Realtor association membership. Despite not requiring NAR membership, Frazier said the brokerage does require agents to follow the NAR Code of Ethics. It is human nature,” Frazier said.

Law 387
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DataDigest: The remarkably resilient agent commission rate

Housing Wire

Relatedly, discount brokerages have promised big savings to sellers for decades. The legal threat that looms largest is what’s known as the “Moehrl case.” If the NAR and brokerages lose, buyers would likely have to negotiate commissions with their own agent. They were wrong. They’ve never caught on.

Agents 409
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Zillow to list housing discrimination protections

Housing Wire

The update expands Zillow’s Local Legal Protections tool, which was created in 2018 to help LGBT home searchers identify if their rights were protected by local laws in certain jurisdictions. For a well-prepared real estate brokerage, like 1 Percent Lists, this holds a promising future. Presented by: 1 Percent Lists.

Landlords 466
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UWM sues two more broker shops for working with Rocket & Fairway

Housing Wire

The disputes involve Californian brokerage shops Kevron Investments Inc. Meanwhile, Mid Valley Funding, which started doing business with UWM in June 2015, sent at least 62 mortgages to Rocket and Fairway, the lawsuit claims. and Mid Valley Funding & Inv. Inc and a request of $420,000 in damages. .

Contracts 370
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“Collusion,” agent training are the focus on day three of the Sitzer/Burnett trial

Housing Wire

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. In her deposition, Figgs said that since sending the email to Gonzalez, she had “largely dismissed” the study.

Training 405