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LeadingRE promotes Reisinger to COO, Edgerton to Chief Legal Officer

Housing Wire

Leading Real Estate Companies of the World (LeadingRE) has promoted Jessica Edgerton to chief legal officer/executive vice president of industry and learning and Kate Reisinger to chief operating officer. Edgerton will now oversee the company’s legal affairs, such as regulatory compliance, trademark protection, and contract management.

Legal 397
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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. It’s the ultimate in legalized fraud.

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“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

It was mid-February when clients, family and friends began asking Jason Posnick about strange postcards appearing in their mailboxes. JND Legal Administration is in charge of distributing the mailers, emails and press releases. Thanks to Lisa Chinatti, the broker-owner at Chinatti Realty Group , he was not completely caught off guard.

Agents 432
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DocMagic adds ADA-compliant loan documents to its library

Housing Wire

Much of modern lending technology is designed to give consumers the convenience to access loan documents in the ways that work best for them. It is imperative that our industry remains inclusive of all borrowers, and that we design solutions that are accessible to all.

Design 383
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Illinois homebuyers file second commission lawsuit, and it may be the largest one yet

Housing Wire

According to the complaint, this requirement of a blanket offer of compensation makes it easy for buyer agents to steer clients to properties they would make a higher commission on. The complaint states the reason for the rule is “to maintain high broker commissions for NAR members at the expense of homebuyers.”

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Sprout Mortgage taps Wells Fargo veteran to lead retail

Housing Wire

It also appointed Laura LaRaia as chief legal officer. LaRaia was previously the chief legal officer and general counsel at First Guaranty Mortgage Corporation. Sprout said it intends to grow its retail channel through increased direct sales to consumers and residential investors, dedicated retail facilities, and joint ventures.

Retail 384
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Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

million to more than 5,300 home mortgage consultants to resolve a pair of class-action legal claims that allege wage-and-hour violations in California, according to the settlement agreement in federal court. Wells Fargo agreed to pay $95.7 The deal will provide $62.8 A settlement with the U.S.

Legal 466