Housing Wire

AUGUST 4, 2022

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 390

Brokerage Real Estate Lending Mortgage 390

Housing Wire

APRIL 10, 2024

The FDIC recognizes that technology now has a role in the brokerage firm services provided and can impact its value. The same institution also stated that it initiated or ordered appraisals when it added borrowers’ information into a lender’s software.

Brokerage 337

Brokerage Mortgage Development Insurance 337

Housing Wire

APRIL 22, 2024

It remains to be seen whether NAR’s settlement agreement will be approved and if the DOJ will seek further involvement in the commission lawsuits, but for now, real estate executives are choosing to see how some of the changes the litigation is engendering may be a positive opportunity for brokerages, agents and consumers.

Brokerage 318

Brokerage Agents Real Estate Buyers 318

Housing Wire

APRIL 23, 2024

I would love to see Fannie Mae and Freddie Mac allowing some type of financing of the commission, but I don’t think it will happen,” Lamacchia said. “I a brokerage that lists and markets properties for sellers, allowing them to decide if they wish to compensate the buyer’s broker.

Brokerage 292

Brokerage Sellers Buyers Agents 292

Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story.

Brokerage 425

Brokerage Agents Real Estate Buyers 425

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. An incentive to go back to Keller Williams remained.

Brokerage 396

Brokerage Agents Legal Real Estate 396

Housing Wire

FEBRUARY 15, 2024

United Wholesale Mortgage (UWM) has accused California-based brokerage and correspondent lender Mortgage Solutions FCS, dba Client Direct Mortgage, of breaching its early payoff (EPO) provision and its owner, Ramon Walker, of trademark infringement. UWM filed a lawsuit in a U.S. district court in Michigan on Wednesday. 28, 2023.

Mortgage 285

Mortgage Legal Advertising Loan Officers 285

Housing Wire

JULY 21, 2023

Maggie Wu has returned to Compass , and she’s bringing her four-person The W Team to the New York brokerage. In December 2021, she had left Compass to join the young brokerage SERHANT. With the move, Wu returns to where she began her career as junior partner on the Jing Chen Team in 2019. where she launched her own team.

Brokerage 277

Brokerage Legal Clients Real Estate 277

Housing Wire

APRIL 10, 2024

R New York , a brokerage boasting approximately 800 agents, has joined the American Real Estate Association , an alternative to the National Association of Realtors (NAR), according to The Real Deal. I think it’s exactly what real estate agents need and what the industry has not been able to offer until now,” Berkin said in a statement.

Real Estate Agent 418

Real Estate Agent Real Estate Agents Legal 418

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. The terms of Anywhere Real Estate ‘s $83.5

Buyers 424

Buyers Brokerage Agents Sellers 424

Housing Wire

JANUARY 10, 2024

Like the corporate brokerage defendants in the Sitzer/Burnett commission lawsuit , the National Association of Realtors also filed post-trial motions. The motions were filed on Monday prior to the filing deadline, but they did not appear on the court docket until Tuesday evening.

Legal 319

Legal Law Realtors Brokerage 319

Housing Wire

MARCH 15, 2024

Getting referrals and cozying up to the sell side Mike Kortas, CEO at NEXA Mortgage , sent a clear message to the over 2,300 mortgage LOs at his mortgage brokerage: “Keep your eyes open, keep your ears open, listen for opportunities that are going to present themselves, and be ready to assist more buyers.

Buyers 498

Buyers Agents Mortgage Real Estate Agent 498

Housing Wire

FEBRUARY 21, 2024

HomeServices of America can preserve some of its legal war chest — for now, at least. The residential brokerage was dismissed this week from one of the early real estate commission lawsuits , known as “Batton 1” after its lead plaintiff, a homebuyer named Mya Batton. Judge Andrea Wood of the U.S.

Brokerage 326

Brokerage Realtors Real Estate Law 326

Housing Wire

FEBRUARY 28, 2024

The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. While this is certainly not the only lawsuit Redfin has been named a defendant in, it is the first suit in which it is named as the sole real estate brokerage defendant. Filed on Tuesday in U.S. 2, 2019, and Oct.

Realtors 356

Realtors Legal Agents Brokerage 356

Housing Wire

JANUARY 16, 2024

Northern California’s copycat commission lawsuit , known as Grace after its lead plaintiffs, has gained five additional defendants.

Brokerage 351

Brokerage Realtors Realty Real Estate 351

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.”

Brokerage 382

Brokerage Realty Real Estate Loan Officers 382

Housing Wire

FEBRUARY 1, 2021

The Federal Housing Finance Agency appointed Clinton Jones as its new general counsel, saying this was the next step in turning the FHFA into a “world-class regulator.” How to Diversify Your Brokerage to Weather Economic Hardship. Prior to joining the agency, he served for 24 years in various senior legal roles at the U.S.

Legal 440

Legal Law Brokerage Finance 440

Housing Wire

NOVEMBER 1, 2023

There will also be years of appeals about the legal standard used in the case and other issues,” Kelman wrote in a blog post. “And I think every brokerage should be meeting as a group or having discussions around the language we use to talk about commissions, because those are some of the reasons we are where we are today.

Open Houses 461

Open Houses Brokerage Agents Realtors 461

Housing Wire

AUGUST 17, 2023

The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years. million fine.

Realty 369

Realty Mortgage Brokerage Real Estate 369

Housing Wire

NOVEMBER 10, 2022

Houlihan Lokey served as financial advisor and Pierce Atwood served as legal advisor to Mortgage Network. Troutman Pepper was Movement’s legal advisor in the M&A transaction. “We In August, the company acquired the brokerage Superior Rate Mortgage of New England. The company did not disclose the financial terms of the deal.

Retail 370

Retail Mortgage Loan Officers Legal 370

Housing Wire

OCTOBER 2, 2023

Most brokerages are only a loose affiliation of independent agents, and none of us wants to impose a policy that could alienate any of the people who generate our revenue.” In leaving NAR, the brokerage said it will explore other ways to achieve those goals. We love our industry.

Brokerage 376

Brokerage Agents Realtors Legal 376

Housing Wire

OCTOBER 16, 2023

According to Katie Johnson, NAR’s Chief Legal Officer, jury selection started last week and should finish today. Named in the class action are NAR, RE/MAX , Anywhere , Keller Williams and Berkshire Hathaway HomeServices. “We are now anticipating opening arguments to begin on Tuesday, Oct. ” What’s at stake?

Buyers 446

Buyers Brokerage Agents Realtors 446

Housing Wire

APRIL 1, 2024

NEXA’s businesses America’s largest mortgage brokerage, NEXA originated $6.29 Then, through his legal counsel, Kortas “asserted that the aviation business is a legitimate business of Nexa and “Grella had consented to some aviation related purchases.” The lawsuit states that Kortas had 50.5%

Brokerage 332

Brokerage Business Loan Officers Legal 332

Housing Wire

JANUARY 18, 2024

The complaint names 35 entities as defendants, including the National Association of Realtors , local and national brokerages, MLSs and local Realtor associations. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit. 17, 2020, and the present.

Realtors 489

Realtors Brokerage Realty Real Estate 489

Housing Wire

NOVEMBER 30, 2023

Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case. The home seller plaintiffs allege that NAR and the corporate brokerage defendants have conspired to artificially inflate agent commissions, increasing the costs shouldered by home sellers.

Legal 388

Legal Sellers Realtors Law 388

Housing Wire

SEPTEMBER 29, 2023

Less than three weeks out from the trial start date, plaintiffs in the Sitzer/Burnett buyer broker commission class action lawsuit filed a notice to withdraw three named plaintiffs. Attorneys for the plaintiffs notified the court in Kansas City that they wish to withdraw Scott Trupiano, Ryan Hendrickson, and Scott Burnett as class representatives.

Brokerage 350

Brokerage Realtors Agents Design 350

Housing Wire

SEPTEMBER 28, 2023

After nearly 10 days of trial proceedings, Zillow is ready for its years-long legal battle with REX Real Estate to be over. A judgement as a matter of the law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, REX) on that issue.

Advertising 375

Advertising Legal Law Real Estate 375

Housing Wire

SEPTEMBER 2, 2022

Finance of America Reverse. Finance of America Mortgage. National Head of Brokerage. VP, All In One Loan Finance. VP, Legal and Compliance. Senior Finance Project Director. SVP, Infrastructure and Operations. April Steele. VP, Operations. Austin Ross. Freedom Mortgage. Brian Devlin. Caleb Mittelstet.

Retail 307

Retail Realty Finance Technology 307

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. The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries.

Loan Officers 364

Loan Officers Legal Real Estate Lending 364

Housing Wire

NOVEMBER 20, 2023

The two corporate brokerages have received preliminary approval of their settlement agreements in the Sitzer/Burnett, Moehrl and Nosalek commission lawsuits. RE/MAX and Anywhere Real Estate can breathe a sigh of relief. At Anywhere, CEO and president Ryan Schneider was equally as pleased.

Legal 364

Legal Real Estate Agents Realtors 364

Housing Wire

MARCH 8, 2024

JND Legal Administration is in charge of distributing the mailers, emails and press releases. While it is not uncommon for the parties themselves to handle settlement administration work, legal experts told HousingWire that due to the size and scope of these lawsuits it is not surprising that a third-party administrator was brought in.

Agents 377

Agents Legal Realtors Clients 377

Housing Wire

OCTOBER 26, 2023

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 336

Law Agents Brokerage Buyers 336

Housing Wire

MARCH 22, 2024

Additionally, like the three other brokerage firms that have already settled, Compass has agreed to make changes to its business practices as part of the settlement. Unlike the three other brokerage firms that have settled so far, Compass was not named as a defendant in the original commission lawsuits, Sitzer/Burnett, Moehrl and Nosalek.

Brokerage 403

Brokerage Realtors Agents Clients 403

Housing Wire

FEBRUARY 16, 2024

Like the other commission lawsuits, the Boykin suit is seeking class action status for anyone who listed a property on a MLS in Nevada using a listing agent affiliated with one of the brokerage defendants named in the suit and paid a buyer broker commission between Feb. 16, 2020, and the present.

Real Estate 382

Real Estate Realtors Realty Brokerage 382

Housing Wire

NOVEMBER 10, 2023

It appears that no real estate brokerage firm in the U.S. In the complaintant, March, who sold a home in Manhattan and is the only named plaintiff, states that REBNY’s Universal Co-Brokerage Agreement forced him to pay an allegedly inflated commission fee to the buyer’s broker. is safe from a commission lawsuit.

Real Estate 436

Real Estate Brokerage Sellers Law 436

Housing Wire

MARCH 25, 2024

Cooperative compensation is still legal,” Papasan stressed. A point highlighted for this topic is that a listing agent will be able to show a buyer their listing as long as they are not representing the buyer and not being compensated for brokerage services by the buyer. Department of Veterans Affairs (VA) financing. “A

Agents 378

Agents Advertising Real Estate Buyers 378

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. An originator since 1999, Read got his real estate license in 2014 and opened up his real estate brokerage in 2019.

Real Estate Agent 401

Real Estate Agent Loan Officers Real Estate Agents 401