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Katie Johnson set to resign as NAR’s chief legal officer

Housing Wire

Katie Johnson is stepping down from her role as chief legal officer for the National Association of Realtors. CEO Nykia Wright informed NAR members of the news in an email sent Tuesday and obtained by HousingWire. Her last day will be Oct.

Legal 482
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Van Ness and Diaz Reelected to Legal League’s Advisory Council

Appraisal Buzz

Legal League , the premier professional association of financial services law firms in the U.S. Anthony Van Ness , Founder and Managing Partner of Van Ness Law Firm, and Roy Diaz , Managing Shareholder of Diaz Anselmo & Associates PA have been reelected to the Legal League’s Advisory Council.

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

Housing Wire

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. The “touring agreement” we have seen does not contain all of the necessary information,” Murray wrote in an email.

Legal 375
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loanDepot accuses ex-COO Tammy Richards of stealing customers’ information

Housing Wire

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. 30, 2020, and informed loanDepot that she needed to take an immediate leave of absence.

Contracts 433
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Loan Factory sued by originators for alleged use of unauthorized information

Housing Wire

California-based mortgage brokerage Loan Factory was sued by a class of loan originators, who allege that the company used their personal and professional information, without their authorization, on its website in an attempt to drive business. He declined to comment further.

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UWM offers legal support to brokers, accuses Rocket of ‘connections’ with Hunterbrook report

Housing Wire

The wholesale lender said it’s offering legal support to partners in case they are sued and once again accused Rocket Mortgage of being behind the report, which the rival denies. He left in February. Rocket did not provide additional comments on Tuesday’s UWM message to brokers.

Legal 465
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CFPB details legal requirements for lenders’ use of A.I. when making credit decisions

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a series of legal requirements lenders must adhere to when using artificial intelligence (AI) or “other complex models” when making decisions about the creditworthiness of borrowers.

Legal 454