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NAR settlement doesn’t pass the ‘real world’ test

Real Estate News

A law professor filed a lengthy objection calling it “the worst of all possible worlds,” raising concerns about “chaos and frustration” as well as legal fees.

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United Real Estate settles the commission lawsuits

Housing Wire

The company said in a statement that the settlement was the “best course of action as it will save United Real Estate significant legal fees and allow the company to move forward.” The brokerage said it has also agreed to adhere to certain business practice changes, which are not being disclosed at this time.

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Side seeks more than $4 million from Alexander brothers, Official Partners

Housing Wire

The balance request includes additional damages for legal fees and a jury trial. According to an amended complaint filed this week, Side alleges that Official Partners and its founders Tal and Oren Alexander committed multiple events of default on a $4.6 million promissory note Side extended in April.

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Fathom is the latest brokerage to settle the commission lawsuits

Housing Wire

“We continue to assert that Fathom never participated in any conspiracy to inflate commissions and continue to believe that due to our flat-fee model, there was no incentive to join any such conspiracy.

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DOL accuses PrimeLending of violating whistleblower provisions

Housing Wire

According to the DOL, they must pay $35,000 in emotional damages and the legal fees of the two employees who reported consumer fraud concerns. A former senior vice president and two company managers were also held personally accountable in the case.

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Reffkin trades in Compass stock for $7M cash bonus

Housing Wire

While the firm has succeeded in trimming costs and reducing operating expenses , it is now finding itself in the crosshairs of multiple copycat commission lawsuits , which will lead to an increase in legal costs. For the changes to Reffkin’s compensation plan alone, Compass will pay $25,000 in legal fees, according to the SEC filing.

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Mr. Cooper, ACI to settle lawsuit over unauthorized mortgage payments

Housing Wire

These customers paid overdraft/insufficient funds fees or faced temporary account freezes. In addition, it faced legal fees due to 10 class-action lawsuits and at least two individual lawsuits. Mr. Cooper alleges that the incident made media headlines nationwide, damaging its reputation.