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Alabama governor Kay Ivey has signed into law a bill that ensures homebuyers only have to sign a buyer brokerage agreement prior to submitting an offer on a property and not before touring a home with an agent. Ivey signed the bill into law on Tuesday after it passed the state Senate earlier this month.
BDF Law Group , a provider of legal services to the financial services industry, has announced its expansion into four new states: Alabama, Mississippi, Oklahoma, and Wyoming. This expansion is not merely for growth’s sake, but rather to address a pressing need to deliver quality legal services expressed by several key clients.
In December, Rocket sued HUD over the charge, saying it was not accountable for an appraiser’s actions given the arms-length requirement of the law. This business model was not only misleading to the clients, but also to his credentialled appraisers on staff, the release stated.
A Compass broker faces allegations of illegally accepting kickbacks from a mortgage lender and attorney in exchange for client referrals, according to a whistleblower lawsuit obtained by The Real Deal. Payments were allegedly omitted from tax filings while clients were reportedly unaware of the referral arrangements.
Legal League is a professional association of financial services law firms spread out across the U.S. Managing Attorney with IDEA Law Group LLC, and Chair of Legal Leagues SIWG; Michelle Garcia Gilbert Esq. Founder and Managing Attorney with Van Ness Law Firm PLC, and SIWG Member. Hladik Esq. Anthony Van Ness Esq.
Department of Housing and Urban Development (HUD), Marcia Fudge has joined law firm Taft as a partner and chair of public policy, the company announced this week. Two other former HUD staffers will also join the law firm. According to Am Law 100, it is the 83rd largest firm in the U.S. by revenue.
After the company failed to have new council file an appearance, the court dismissed EasyKnocks defamation lawsuit against law firm Feldman & Feldman last Monday. Feldman & Feldman began working with clients throughout Texas to file lawsuits under the truth in lending act against EasyKnock in 2021.
On Tuesday, the firm launched Compass Resort, a network for agents in vacation-home markets and clients searching for second homes. ” The resort network will provide agents and clients in these markets with additional support, as buyers and sellers operating in these places often expect a higher quality of service from their agents.
and the Fair Housing Center of the Greater Palm Beaches , have filed a lawsuit that contends Florida Housing Law Senate Bill 264 violates the federal Fair Housing Act. We alleged that the law denies access to housing to people from China and these other countries. The suit was filed on Monday in U.S. District Court in Miami.
In a volatile real estate market, client-centricity isnt optional its your competitive edge. Chris Pollinger shares how elite agents turn uncertainty into opportunity by obsessing over what clients truly need, moving fast and thinking like strategic partners.
RLTYco uniquely combines fintech, insurtech, and professional services and has an infinite addressable market given their rate of reoccurring clients, said Altriarch co-CEO Danielle Brown in a statement. Ventures, SERHANT.s education division.
allegedly violated California labor laws by failing to provide employees with rest breaks, meal breaks and appropriate compensation for off-the-clock and overtime work, according to a newly filed class-action lawsuit. Representatives for the law firms could not be immediately reached for comment. and its subsidiary PHH Mortgage Corp.,
Just prior to the plaintiffs resting their case late Monday afternoon, HomeServices of America , one of the three remaining defendants in the commission lawsuit , filed a motion for judgment as a matter of law. Warner claimed that Blefari’s statements were not a rule for agents to follow, but an example of what Blefari would do.
Arguably, one of the most important functions of a real estate agent is to guide and be a subject matter expert to clients through the buying and selling processes. Put simply, a good agent is a sherpa who knows every step of the journey and expertly leads their client up the path. your state’s real estate license exam.
While Alabama-based brokerage leader Anna-Marie Ellison said she supports the state associations efforts, she also said her agents have not expressed concerns about signing a buyer representation agreement prior to touring a house with a prospective client. And that is positive. And thats where we want to get that part right, Walker added.
Hackers stole the personal information of 1,547,169 clients of Michigan-based Flagstar Bank in December, according to a document sent by the financial institution to the Office of the Maine Attorney General. million clients appeared first on HousingWire. The cyberattack occurred on Dec. 3 and Dec.
“We’ve got clients calling us frantically looking for leases. While California law does not require homeowners to have fire insurance, most mortgage lenders do. Giuditta has witnessed how insurance models cannot provide enough coverage to protect clients against natural disasters.
.” Unnamed agent in recorded call with REX Not showing clients properties because they have below-market commission rates is an example of “steering,” a practice that is often alleged about buyer agents and just as often denied by broker firms and associations. ” Their findings, published online as a draft on Oct.
This is evident when you ask any highly successful agent where they find their clients. Inevitably, their answer will be “my past clients and sphere.” Perhaps the client wishes to make a purchase that isn’t in the agent’s geographical area or their wheelhouse of expertise. What are the benefits of referrals?
On Wednesday , Reffkin shared a quote from law firm Crowell & Moring LLP, which lists antitrust law as one of its specialties, on his social media accounts. By not allowing agents to market off the MLS when their client wants them to, Northwest MLS is in effect asking agents to break the law.
The financial planning community is often sought after by reverse mortgage professionals as a referral source, as planners can help provide necessary clarity to their clients who are seeking the preservation of financial assets and continuing stability. sees reverse mortgages as a vehicle toward financial security for certain clients.
Marx Stercow, the managing attorney at Sterbcow Law Group , agrees that agents and brokers need to be mindful of what they tell consumers about private listing networks. Jerrold Bregman, a partner at BG Law , shares a similar view. I mean, they already have to watch what they do and say to the public, Sterbcow said.
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. The lower comp rate stung. It’s greed.”
It also offered a path to challenge the appraisal mentioned in the lawsuit through a value reconsideration process which complies with the law. If our client was discriminated against, we want our client to get their justice — it’s just not against us,” Emerson said.
You’re probably aware that each state has its own real estate license requirements, unique laws and regulations around real estate licensure. Real estate license portability allows agents to work with clients in another state without being licensed there. When you buy through our links, we may earn a commission.
A bill that would seek to bolster the disclosures that reverse mortgage lenders make to potential clients in an effort to broaden their understanding of the product inside New York state is getting pushback from industry advocates. New York state has passed at least two consequential reverse mortgage laws in recent years.
Erich Wiedel: When I was in high school, a friends brother-in-law owned a mortgage company, and I got a job as a loan officer. Many of the clients we acquired during that initial marketing campaign remain valued partners today. By placing consistency at the forefront, our clients can trust us to deliver on every file.
Mechanics Bank is surviving as a banking corporation incorporated under the laws of California and as a wholly owned subsidiary of HomeStreet. We have completed a thorough due diligence process and look forward to welcoming HomeStreets clients and employees to our company. Johnson, CEO and president of Mechanics Bank.
I’m going to start by making Rate the absolutely best place for every single loan officer to work at figuring out ways in which we can develop them, give them all the skills, the coaching , the mentoring and the tools, so they can have an amazing business, but also better serve all their clients and all their partners.
The team serves clients in Georgia and Tennessee. In addition to his work in real estate, South is the co-founder of Apex Predator Training, where he provides self-defense education classes and offers free training sessions for local law enforcement. Additionally, Stouts team ranked at No. The team ranked at No.
The attorney general is claiming that the defendants have violated the Pennsylvania Unfair Trade Practices and Consumer Protection Law, and the Consumer Financial Protection Act (CFPA) due to alleged violations of Section X of RESPA. As a result, their claims are not only unmoored from what the law actually prohibits, but expressly permitted!
My first inclination was to go to my father-in-law’s house because he lived closer to Malibu, and I thought we’d just bring him to our house. O’Connor: I’m working with clients now who, at every listing, want to know what the evacuation routes are. ” I just knew that it wasn’t going to be good.
Two hours south in San Diego, clients ask eXp agent Alanna Strei for a mortgage reference. And, after years “looking for the right mortgage partner,” Strei now confidently directs clients to mortgage broker Tim Joy at the Joy of Lending. “There are probably three or four people that I work with,” Dunn said.
The mortgage world is fast-paced and constantly evolving, driven by shifts in laws and economic conditions. From tweaks in consumer protection laws to new lending standards and disclosure requirements, the goal is always to foster a clearer and fairer lending process.
Rocket Homes Real Estate , a real estate affiliate of Rocket Companies , is being investigated by the Consumer Financial Protection Bureau (CFPB) for possibly violating the Real Estate Settlement Procedures Act (RESPA) when it charged fees for referring Quicken’s mortgage clients to real estate agents, according to officials.
The passage of the law, first reported by regional news publication CTInsider , was prioritized this year by the legislature’s Democratic caucus. It passed in the Connecticut House of Representatives 143-3, and if ratified by the state Senate and signed into law by Gov.
Kahane & Associates PA is a full-service law firm based in Sunrise, Florida, that represents secured and unsecured creditors and provides a full range of legal industry, from foreclosure and bankruptcy representation to litigation, evictions, collections, loss mitigation, and REO closings.
Throughout his tenure, his team consistently delivered exceptional results, achieving top rankings in client default challenges. I am eager to accomplish our organizational goals together while delivering outstanding results for firm clients.” Dave brings a disciplined approach that fosters collaboration and accountability.
Legal League is a professional association of financial services law firms, uniquely positioned to drive progress in the mortgage servicing industry. A graduate of the Pennsylvania State University, Hladik obtained his law degree from Widener University, with honors, where he served as Internal Managing Editor of the Law Review.
In a recent interview with Inman News, Ketchmark said that Realtor organizations need to be aware of the fact that not only will our law firm and other attorneys be looking at [CCP], but the eyes of the world are upon them, and its time to do the right thing and let homeowners make decisions about their houses and not a bureaucratic organization.
. “As a360inc and ProVest have evolved, our dedication to expanding solutions to meet our clients’ needs has remained paramount,” a360inc CEO Scott Brinkley said in a statement.
The purchase of DocVerify will move the lending process “closer to a secure paperless environment through the digitization of the document validation process and a highly secure eNotary solution that our mortgage and real estate clients can leverage to offer a 100% digital closing,” Black Knight said in a statement. 10 report.
While its unclear if the intention of the bill is to apply to both proprietary loans and HECMs sponsored by the Federal Housing Administration (FHA), NRMLA made clear in its submitted comments that the existing HECM statute in federal law would supersede any state-level legislation, continuing to allow for HECM business.
Certain clients can use home equity to pay the taxes on such a conversion, which would include comparing mortgage rates and the projected level of home price appreciation “against the projected growth of income-tax-free Roth assets and whether the client expects to be in a higher tax bracket in the future,” Resch told the outlet.
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