Remove 2015 Remove Contracts Remove Legal
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Josh Team accused of taking illegal kickbacks in battle between two tech firms

Housing Wire

What began as a legal battle between two companies that previously worked together on a Keller Williams technology platform has recently expanded to include industry veteran Josh Team. According to the counterclaim, in 2015 while working for Keller Williams, Team was asked to build a platform for the firm.

Contracts 374
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CFPB issues warning on ‘fine-print tactics‘ used to ‘trick‘ consumers

Housing Wire

Supreme Court rejected a challenge to its funding mechanism in mid-May, the Consumer Financial Protection Bureau (CFPB) is now targeting the use of what it deemed ”unlawful or unenforceable” terms and conditions in contracts. A Supervisory Highlights from the Summer of 2015 refers mainly to home equity installment loan agreements.

Legal 386
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Opinion: Two legal issues relevant to FHFA’s review of FHLB system

Housing Wire

This article addresses two legal issues relevant to the review: FHFA’s statutory authority to reduce the number of Federal Home Loan Banks, and The application of the FHLBank statutory “super lien”. This provision may be challenged by the affected FHLBank under legal process.

Legal 312
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Utah Realtors boycotted Homie listings over 1.5% buyer broker commission: antitrust lawsuit

Housing Wire

In the complaint, Homie claims that it is bringing this legal action to “recover the damages…suffered as an excluded competitor foreclosed by the Defendants’ conduct from effective competition in the relevant market.” Please tell your sellers for me,” one text cited in the complaint stated.

Realtors 482
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Change Lending keeps CDFI certification after agreement with US Treasury 

Housing Wire

The agreement puts an end to a short-lived legal dispute with the Treasury Department. Change accused Levine of committing fraud and breaching his contract with the firm to advance his scheme to extort Change and its principals for over $10 million. Levine was fired in March over multiple accusations of workplace misconduct.

Lending 404
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UWM and broker shop Mid Valley settle ‘ultimatum’ lawsuit

Housing Wire

Mid Valley, which started doing business with UWM in June 2015, sent at least 62 mortgages to Rocket and Fairway, the lawsuit claims. Mat Ishbia , UWM president and CEO, said in a statement, “It’s very unfortunate to see a company like Mid Valley breach their contract, but we’re going to continue to do what’s right for the broker community.”

Brokerage 340
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UWM sues two more broker shops for working with Rocket & Fairway

Housing Wire

The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal court accusing broker partners of breach of contract for originating mortgages to its competitors. A warranty in the addendum said that if brokers submitted loans to Rocket or Fairway, it would constitute a breach of contract.

Contracts 370