Housing Wire

OCTOBER 18, 2022

West, of the law firm Frost Brown Todd LLC , wrote that “Sprout and Strauss are no longer working cooperatively with FirstFunding to effectuate the prompt disposition of the Pledged Mortgage Loans and reduction of advances under the Funding Agreement to maximize value.”. However, FirstFunding’s attorney Benjamin A.

Contracts 397

Contracts Law Legal Mortgage 397

Housing Wire

OCTOBER 28, 2024

After previously taking issue with some of the forms generated as a result of the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement , University of Buffalo law professor Tanya Monestier is now objecting to NAR’s settlement. She expanded on this in her legal objection. “If

Business 468

Business Sellers Realtors Buyers 468

Appraisal Buzz

AUGUST 13, 2024

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). The CFPB is had a field hearing in St.

Contracts 367

Contracts Investors Sellers Lending 367

Housing Wire

MAY 6, 2024

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.

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Law Real Estate Real Property Contracts 431

Housing Wire

OCTOBER 23, 2023

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. In addition, the contract stipulated that agents must join their local Realtor association.

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Law Agents Realtors Contracts 459

Housing Wire

JANUARY 27, 2025

They wrote that the motion is based on the grounds that Plaintiffs oral contract claims are barred by Plaintiffs written agreement under the merger doctrine. According to the defendants the plaintiffs have failed to identify any actionable fraudulent, unlawful, or unfair conduct.

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Realtors Legal Law Real Estate 376

Housing Wire

NOVEMBER 1, 2024

Last but not least, real estate agents prepare documents such as closing documents, purchase agreements, and leases while ensuring that the transaction is in compliance with local laws and their client’s terms are met. citizen or legal resident and be 18 years of age or older. Generally, you need to be a U.S.

Real Estate 448

Real Estate Real Estate Agent Agents Brokerage 448

Housing Wire

JUNE 4, 2024

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. On Tuesday, the U.S.

Legal 448

Legal Contracts Law Lending 448

Housing Wire

OCTOBER 3, 2024

EasyKnock , which offers sale-leaseback solutions to homeowners, announced a legal victory in Texas on Wednesday as it was awarded more than $153,000 by an arbitrator. The company has been fighting legal battles on multiple fronts through a series of consumer-initiated lawsuits and actions by regulators in several states.

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Housing Wire

NOVEMBER 18, 2022

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. Alfred Pollard is a former Chief Counsel for the FHFA.

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Legal Law Insurance Finance 370

Housing Wire

JANUARY 6, 2025

BHE claims that this order contains significant and manifest errors of both fact and law, and that the court failed to provide a ruling on BHEs reasoning for dismissal, such as the absence of any plaintiff who is able to allege a single fact with regard to conduct by BHE. BHE is also asking for an order from the court compelling arbitration.

Contracts 432

Contracts Law Legal Real Estate 432

Housing Wire

JANUARY 30, 2025

In its filing, BHE a subsidiary of Warren Buffetts Berkshire Hathaway denied any liability and the plaintiffs’ allegations that it violated federal antitrust laws. 31, 2019, and the present.

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Real Estate Real Estate Agent Brokerage Law 322

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 480

Buyers Contracts Agents Realtors 480

Housing Wire

MARCH 19, 2024

“Plaintiff’s bald, conclusory allegation that the parties somehow ‘agreed’ to the 2022 unsigned amendment to the 2018 wholesale broker agreement as a complete and total replacement for the 2018 wholesale broker agreement in some unidentified manner is entirely implausible as a matter of law,” according to Atlantic Trust.

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Mortgage Law Brokerage Legal 445

Housing Wire

APRIL 17, 2024

In a writ of certiorari filed in early February, HomeServices told the Supreme Court that each of its client contracts state that the “signatories can arbitrate any claim or dispute arising out of the contract.” There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 448

Contracts Brokerage Law Real Estate Agent 448

Housing Wire

SEPTEMBER 16, 2024

Keller Williams ‘ legal worries just got a little lighter. In an email, Keller Williams confirmed that this agreement settles all of the breach-of-contract lawsuits filed against it by attorneys at the law firm of Humphrey, Farrington & McClain PC.

Brokerage 448

Brokerage Legal Design Agents 448

Housing Wire

NOVEMBER 13, 2023

The firm informed law enforcement, regulatory authorities and other stakeholders. ” Mr. Cooper is accused of negligence, breach of implied contract and unjust enrichment, among other claims. At this time, however, it’s not possible to quantify the full extent of remediation and legal expenses due to the cyberattack.

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Legal Law Contracts Technology 544

Housing Wire

JUNE 13, 2024

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. In one of the cases cited by CertifID ( Otto v.

Real Estate 459

Real Estate Insurance Legal Training 459

Housing Wire

DECEMBER 11, 2023

Campbell’s office claims that EasyKnock “engaged in an unfair and deceptive equity-skimming scheme that involved purchasing the homes of cash-strapped consumers at bargain-basement prices and then renting them back to the consumers, at times for unfair rents,” in violation of the state’s consumer protection law.

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Tenants Landlords Law Advertising 429

Housing Wire

DECEMBER 8, 2023

Prospective Arizona real estate agents must fulfill a 90-hour prelicensing program from an Arizona Department of Real Estate (ADRE)-approved school and pass a six-hour contract writing course , for a total of 96 class hours. Course includes contracts used in real estate transactions with samples and practical contract completion exercises.

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Real Estate Contracts Law Real Estate Agent 434

Housing Wire

DECEMBER 5, 2023

An arbitrator conclusion issued last week caps a four-year legal battle over allegations of trade secret theft involving two of the biggest companies in the housing industry, Black Knight Servicing Technologies and PennyMac Financial Services. 28, an arbitrator awarded Black Knight $155.2 In March 2020, the companies entered arbitration.

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Contracts Development Legal Law 448

Housing Wire

MARCH 22, 2024

1, 2024 , Washington state’s agency law requires agents to have a written agreement with buyers (as well as sellers) to spell out the exact scope of the services provided by the agent, as well as the compensation the client has agreed to pay them in return. As of Jan. It is kind of like dating,” Sax said. “So,

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Buyers Contracts Real Estate Agents 497

Housing Wire

JANUARY 11, 2024

By law, the mortgages were the ‘absolute property’ of GNMA.” TCB’s contract with RMF and the bankruptcy court order also expressly stated that TCB’s right to a lien was subject to GNMA’s extinguishment rights.” TCB’s interest, Ginnie Mae said, “derived entirely from RMF.” District Court for the District of Delaware.

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Lending Government Legal Law 459

Housing Wire

JANUARY 31, 2025

It protects you from potential legal claims that a mistake on your part caused someone financial harm. E&O insurance covers losses your client may experience, but can also help you and your business by paying legal expenses and managing claims. It can also give your clients peace of mind to know youve planned for any incidents.

Real Estate 338

Real Estate Brokerage Insurance Legal 338

Housing Wire

FEBRUARY 5, 2024

In a court document filed on Friday, HomeServices of America told the Supreme Court that each HomeServices of America client contract states that the “signatories can arbitrate any claim or dispute arising out of the contract.” There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 435

Contracts Brokerage Law Real Estate Agent 435

Housing Wire

FEBRUARY 2, 2021

In a Friday brief, the coalition alleged the charges by PHH are “illegal” and “improper” because the authorization of these fees cannot be found in the mortgage contracts. The cumulation of legal action from the states and the CFPB nearly put Ocwen out of business. PHH denied the allegation made by the 33 AGs.

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Mortgage Legal Law Contracts 407

Housing Wire

JUNE 25, 2024

The analysis of the buyer representation and broker compensation agreement was done by Tanya Monestier, a law professor at the University of Buffalo. Her analysis also notes problematic provisions in CAR’s contract related to dispute resolution, dual agency, commissions owed and buyer cancellation.

Realtors 418

Realtors Buyers Contracts Realty 418

Housing Wire

NOVEMBER 16, 2023

Real estate forms : It is said that a contract is only as good as the paper it’s written on, and real estate purchase contracts are written on template legal documents that have been reviewed and approved by state-level real estate departments. Rajesh Bhat serves as a Board Director of The Mortgage Office.

Realtors 448

Realtors Contracts Real Estate Agents 448

Housing Wire

FEBRUARY 14, 2025

The state trade group is currently championing a bill that would change state law to prevent a consumer from being forced to sign a buyer representation agreement before they can tour a property with a Realtor. The bill, known as House Bill 230, was filed earlier this month and is sponsored by State Representative Randall Shedd (R-Cullman).

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Realtors Law Buyers Contracts 221

Housing Wire

JULY 19, 2023

A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. Consider the following, fairly common scenario and the result: A seller signs a listing contract with a real estate brokerage for six months. A seller-client cancels a listing.

Real Estate 370

Real Estate Legal Clients Brokerage 370

Housing Wire

JUNE 26, 2024

In my career as an attorney, I’ve seen how legal disputes can sink relationships fast and forever. Even if a relationship is strained beyond the parties working together again, ADR can reduce the animosity and resentment that can linger after a legal fight. It’s not good enough to just understand basic contract law.

Real Estate 302

Real Estate Legal Law Agents 302

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. loanDepot filed the lawsuit on Oct.

Contracts 435

Contracts Legal Retail Training 435

Housing Wire

AUGUST 26, 2024

The complaint also alleges that the defendants have “consistently failed and refused to properly train, screen, conduct background checks, supervise, reprimand, direct and instruct” their senior management in “a manner at or above the standard of care in accordance” with their policies and the laws of their respective home states.

Real Estate Agent 514

Real Estate Agent Real Estate Law Agents 514

Housing Wire

FEBRUARY 21, 2024

That is bread and butter to us at federal law enforcement agencies, and certainly for SDNY, so we jumped right in and we’ve been working the case ever since. We are federal law enforcement, so we have the same capabilities to make arrests, conduct interviews and issue subpoenas.

Law 448

Law Contracts Design Tenants 448

Housing Wire

FEBRUARY 26, 2024

Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. 21 in the U.S.

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Retail Legal Lending Business 448

Housing Wire

JUNE 12, 2024

Other regulations require that government agencies preserve “government contract pricing structures and other details of competitively bid contracts,” the filing reads. The law enforcement privilege protects against the disclosure of such non-public methods.

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Government Law Contracts Development 443

Housing Wire

MAY 3, 2021

Filed last week in California state courts, the lawsuit is the latest legal drama involving Compass, the New York City-headquartered residential brokerage. The couple contend that they never saw these terms of engagement upon joining Compass, and instead were presented with a 1 ½ page contract that they electronically signed.

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Agents Brokerage Real Estate Agent Real Estate 418