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New objection to NAR settlement targets business practice changes, plaintiffs’ attorneys fees

Housing Wire

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. In a document filed on Monday in U.S.

Business 468
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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

This includes — but is not limited to — posting to the MLS, hosting open houses and getting creative with social media. This course covers real estate law, contracts, finance and ethics. They oversee all real estate activities and ensure compliance with state laws and regulations.

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Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

He also claimed Wells Fargo didn’t compensate mortgage professionals for non-sales work, clawed back vacation pay from commissions and did not pay overtime wages as required by laws. Wells Fargo, the largest depository mortgage lender in America, has been plagued by scandals in recent years.

Legal 488
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NAR clarifies details on buyer broker agreements

Housing Wire

NAR also noted in the FAQ that a written agreement between an agent and a buyer would be necessary prior to that agent taking the buyer on any home tours, unless state law requires that the agreement be signed earlier in the process.

Buyers 488
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CFPB: lenders engaged in redlining, reported bad data

Housing Wire

The Consumer Financial Protection Bureau (CFPB) is tightening the screws on mortgage servicers and originators that violate consumer protection laws. In the lender’s direct marketing and open house materials, the models were white.

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Door knocking for real estate: The ultimate guide + scripts

Housing Wire

Depending on where youre located, these signs can be a matter of law, making soliciting technically considered trespassing. Script 2 – Open house close by Agent: Hi, how are you? Theyre currently selling their home, and we hosted an open house on [Date]. In truth, is someone going to call the cops on you?

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Black Americans still face massive housing barriers

Housing Wire

On Wednesday, the Consumer Financial Protection Bureau (CFPB) said it will be tightening the screws on mortgage servicers and originators that violate consumer protection laws — including redlining, the racist housing policy that effectively blocked many Black families from obtaining mortgages throughout the middle of the 20th century.