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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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Liberty Reverse Mortgage hit with class-action suit alleging violation of California labor laws

Housing Wire

This includes compensation for meal and rest periods that were allegedly unfulfilled, as well as expenses incurred by the class for their job duties and any legal fees that may arise from the case.

Law 395
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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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Side’s Hilary Saunders discusses the evolution of brokerage models

Housing Wire

“So, what the brokerages have done historically is they’ve made all their money from the 80% of agents who actually don’t transact more than two deals a year , because they pay desk fees, monthly fees, technology fees and legal fees.”

Brokerage 412
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Going to Extremes

Appraisal Buzz

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks.

HOA 370
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Mr. Cooper sues ACI for damages related to unauthorized mortgage payments

Housing Wire

In addition, it resulted in legal fees due to 10 class actions and at least two individual lawsuits. Some customers faced overdrafts and/or insufficient funds fees on their bank accounts, while other customers’ depository institutions placed temporary account freezes.

Mortgage 386
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Magistrate judge recommends $46M in restitution from former Live Well CEO

Housing Wire

But Parker agreed with Hild and the government in limiting ICBC’s claim for legal fees. Hild objected to ICBC’s proposed amount by saying the company did not receive a “fair market value” for the bonds they purchased, which Parker said is “irrelevant for the purposes of restitution.”