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FDIC finds banks violated RESPA on mortgage brokerage payments

Housing Wire

Mortgage brokers ’ compensation is in the spotlight after a recent Federal Deposit Insurance Corporation (FDIC) test concluded that some financial institutions failed to prove that payments were “reasonably related” to the value of services provided.

Brokerage 346
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The industry needs to speak out about the consequences of the commission lawsuits: Brokerage leaders

Housing Wire

a brokerage that lists and markets properties for sellers, allowing them to decide if they wish to compensate the buyer’s broker. Additionally, Dwiggins sees the possibility of an increase in errors and omissions insurance costs for agents and brokers, as unrepresented buyers and dual agency are major sources of insurance claims. “If

Brokerage 298
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Erie Title Agency merges with Barristers of Ohio

Housing Wire

Blum added that Erie Title Agency’s more advanced technological offerings, and legal and title expertise will also help the Erie Title Barristers Group provide clients with better closing experience than before. Howard Hanna Real Estate Services isn’t the only brokerage looking to expand its title and escrow services.

Insurance 329
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Opinion: Foreign land ownership legislation and principles for protecting property rights

Housing Wire

As an organization dedicated to protecting property rights, the American Land Title Association (ALTA) wants to help ensure laws do not discriminate against or prevent people from legally purchasing real estate. Laws should also be clear on the role title insurance professionals play in facilitating transactions with foreign owners.

Law 341
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FHFA appoints general counsel to create “world-class regulator”

Housing Wire

Clinton’s long-standing career in public service, in-depth legal expertise in housing policy and executive leadership skills will help bolster FHFA’s work as a world-class prudential regulator.”. How to Diversify Your Brokerage to Weather Economic Hardship. I am grateful for his wise counsel, hard work, and dedication to the Agency.

Legal 444
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NAR CEO back on stand for second day of defense testimony in commission lawsuit trial

Housing Wire

Goldberg said he wasn’t sure, deferring the decision to the trade group’s legal team. In his testimony, Gansho stated that NAR does not conspire with brokerages on commissions, and he echoed Goldberg’s sentiment that brokerages do not follow and enforce the rule.

Realtors 403
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Title industry prepares for possible changes in a post-commission lawsuit world

Housing Wire

In recent years, the value proposition of title insurance has come under attack following Fannie Mae’s announcement that it would accept attorney opinion letters in lieu of title insurance, as well as Fannie Mae and Freddie Mac’s title waiver programs , which were eventually scrapped. “If

Insurance 386