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CFPB Cracks Down on Deceptive Contract Terms

Appraisal Buzz

The Consumer Financial Protection Bureau (CFPB) has issued “ CFPB Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions ,” warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services.

Contracts 390
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Porch Group’s insurance carrier Homeowners of America placed under regulatory supervision

Housing Wire

Porch Group announced that its insurance subsidiary Homeowners of America (HOA) has been placed under temporary supervision by Texas regulators. Vesttoo’s alleged fraudulent activity is an unfortunate event for insurance carriers and the reinsurance industry alike,” Matt Ehrlichman, CEO of Porch Group, said in a statement.

Insurance 399
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Virginia Realtors: Zillow’s touring agreement may not be legal

Housing Wire

Earlier this week, Zillow launched a new “touring agreement,” a nonexclusive contract for buyers and agents to use for home tours. While a non-agency, non-exclusive agreement is not a problem legally in Virginia, such an agreement must contain specific information to be in compliance with the law. According to Laura M.

Legal 305
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Real estate firms may be on the hook for wire fraud losses: CertifID

Housing Wire

In an analysis of more than 100 real estate wire fraud cases, CertifID found that the most common wire fraud-related legal liability issues for real estate firms are negligence, breach of contract, deceptive business practices and breach of fiduciary duty. As a custodian of funds, you are in a position of trust and knowledge.

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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. Short-term advances are not so restricted.

Legal 272
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Crisis management in real estate: 8 tips for handling difficult situations

Housing Wire

Legal disputes. Address other important items, including relevant contact information for support professionals, such as legal counsel, insurance providers and emergency services. Many difficult situations involve legal and regulatory compliance in contract disputes, zoning violations, or tenant rights.

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Sue Yannaccone says Anywhere is looking to raise the bar in 2025

Housing Wire

Given the Department of Justice s ongoing legal battle with the National Association of Realtors (NAR), Sue Yannaccone the president and CEO of Anywhere Brands and Anywhere Advisors knows that the legal landscape for real estate in 2025 will continue to be a challenge.

Legal 282