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Zillow seeks dismissal of consolidated RESPA lawsuit in Seattle

HWmember, Legal, Mortgage, Real Estate, Zillow, Zillow Premier Agent /

Zillow is seeking to have the consolidated Taylor-Armstrong Real Estate Settlement Procedures Act (RESPA) lawsuit dismissed.  The real estate giant filed its motion to dismiss in U.S. District Court in Seattle on Friday. The lawsuit, which was consolidated in early December, began in mid-September, when plaintiff Alucard Taylor filed his initial complaint. Taylor alleged that […]

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Trump’s tariffs overturned by Supreme Court in 6-3 decision

Donald Trump, Housing Market, Legal, Politics, Supreme Court, Tariffs, Trump administration /

The Supreme Court on Friday ruled in a 6-3 decision that President Donald Trump overstepped his authority by imposing sweeping tariffs under a federal law intended for national emergencies, a decision that marks a rare defeat for the administration at the high court, which holds a 6-3 conservative majority. The court found that Trump’s use

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CEA analysis weighs CFPB’s economic impact

CFPB, Compliance, Consumer Protection, Dodd-Frank, Financial crisis, HWmember, Legal, Mortgage, Mortgage Rates, Politics, Regulatory, Regulatory Compliance /

A new report from the Council of Economic Advisers (CEA) estimates that the Consumer Financial Protection Bureau (CFPB) has imposed $237 billion to $369 billion in cumulative costs on U.S. consumers since its creation in 2011, largely through higher borrowing costs. For 2024 alone, the report estimates $24 billion to $38 billion in costs. The

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Judge upholds Washington state’s special purpose credit program

Discrimination, Fair Housing, Fair Lending, HWmember, Lawsuit, Legal, Mortgage, National Fair Housing Alliance, Origination, Redlining, Washington /

A federal judge this week refused to block a special purpose credit program (SPCP) designed to reduce the racial homeownership gap across Washington state, rejecting a constitutional challenge brought by nonprofit Foundation Against Intolerance and Racism (FAIR). U.S. District Court Judge John H. Chun denied FAIR’s request for a preliminary injunction to halt the Covenant

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Zillow and Redfin ordered to produce documents in $100M rental syndication antitrust case

Federal Trade Commission, Glenn Kelman, HWmember, Legal, Real Estate, Redfin, Regulatory, Zillow /

Zillow and Redfin must turn over documents related to their $100 million rental syndication agreement, according to a court order issued on Thursday in the antitrust lawsuit filed by state and federal regulators.  On Thursday, Judge William Porter ruled that the defendants must comply with the document production requests issued by the Federal Trade Commission

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Hanna, Windermere and three more brokerages settle home seller commission lawsuits

Brokerage, Commission Lawsuit, EXIT Realty, Howard Hanna Real Estate Services, HWmember, Legal, MLS/Associations, Real Estate, Sitzer/Burnett, William Raveis Real Estate, Windermere Real Estate Services /

An additional five home seller commission lawsuit settlement agreements have gained final approval. On Thursday, Judge Stephen Bough, a Kansas City-based U.S. District Court judge, granted final approval to settlements reached by Hanna Holdings, William Raveis Real Estate, EXIT Realty Corp., Windermere Real Estate Services and William L. Lyon & Associates with the Gibson suit

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Restitution checks possible for some reverse mortgage borrowers after CFPB action

CFPB, HWmember, Legal, Mortgage Servicing, Novad Management Consulting, Regulatory Compliance, Reverse, Reverse Mortgage Daily, Sutherland /

Reverse mortgage borrowers whose loans were previously serviced by U.S. Department of Housing and Urban Development (HUD) subcontractor NOVAD Management Consulting LLC may receive reimbursement checks in the mail following a 2024 enforcement action brought by the Consumer Financial Protection Bureau (CFPB). The National Reverse Mortgage Lenders Association (NRMLA) notified its members on Friday morning in

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Judge denies Compass injunction against Zillow listing policy

Brokerage, Clear Cooperation, Compass, HWmember, Legal, Real Estate, Robert Reffkin, Zillow /

A New York City-based U.S. District Court judge has denied Compass’s preliminary injunction motion in its antitrust lawsuit against Zillow.  As a result of Judge Jeannette Vargas’ ruling, Zillow may continue enforcing its listing access standard policy, which bans listings from its site that have been publicly advertised for more than one business day prior

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Rocket Mortgage alleges $194,000 loss in broker fraud lawsuit

California, HWmember, Lawsuit, Legal, Michigan, Mortgage, Mortgage Fraud, Rocket Mortgage, United Wholesale Mortgage /

Rocket Mortgage has sued a California mortgage brokerage and one of its executives, alleging they knowingly submitted fraudulent loan applications that concealed borrowers’ debts and caused financial losses after the loans were sold to investors. In a complaint filed Tuesday in the U.S. District Court for the Eastern District of Michigan, Rocket Mortgage said Sharp

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Keller Williams settles Batton homebuyer commission lawsuit

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Nearly two years to the day since Keller Williams settled the home seller commission lawsuits, the firm has announced a settlement with the Batton homebuyer commission lawsuit plaintiffs. The company announced its settlement agreement on Monday. As part of the nationwide settlement agreement, Keller Williams will pay $20 million. The firm did not disclose any

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