Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. – Rocket Mortgage has filed a lawsuit against rival United Wholesale Mortgage (UWM), seeking $100 million in damages. Rocket has accused UWM of profiting off of loans it sold to Mr. Cooper, which Rocket…
When Rocket Companies and Zillow find themselves in the crosshairs of federal litigation over alleged referral kickbacks, the industry takes notice. As the headlines fixate on the big players, a quieter anxiety is building among independent mortgage bankers (IMBs) and smaller lenders who lack the firepower to go toe-to-toe in a prolonged legal battle. The…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. eXp added as a defendant in Zillow RESPA case According to an amended complaint filed last week in Taylor v. Zillow, eXp Realty has been added as a defendant, being accused of supporting…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. eXp, Weichert get settlement sign-off in copycat lawsuit A federal judge granted final approval to a series of commission-related antitrust settlements involving several real estate brokerages, bringing an end to the cases after…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Judge dismisses most claims in Louisiana three-way agreement antitrust suit A federal judge dismissed most of the claims in an antitrust lawsuit brought by four Louisiana real estate brokers who challenged the National…
Borrowers and buyers suing Zillow for alleged RESPA violations and racketeering laid out new arguments in court filings last week, largely focused on pushing back against the portal’s contention that their lawsuit lacks legal merit while emphasizing their case hinges on agents’ obligations to represent clients’ best interests. The case, composed of two consolidated class-action…
A federal judge in Seattle has paused the discovery process in a high-stakes class-action lawsuit against Zillow, and gave at least some signal that the case could get tossed in its entirety relatively soon. U.S. District Judge James L. Robart granted Zillow’s request to pause discovery on March 23, halting all fact-gathering in the case…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. After defeat in Zillow injunction, Compass wants judge to distinguish MLS power In two major legal battles over private listings, Compass is seemingly seeking to draw a distinction between listing service market power…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. U.S. Veterans sue Veterans United Home Loans, alleging RESPA violations and steering A proposed class-action lawsuit, Peyton v. Veterans United Home Loans, has been filed in the Western District of Missouri against Veterans…
A new consumer class-action lawsuit was filed against Rocket Companies on Jan. 26 in the U.S. District Court for the Eastern District of Michigan. According to a press release announcing the action, the Michigan-based lending conglomerate is accused of forcing agents to steer clients toward using Rocket Mortgage. This move, according to attorneys at Hagens…
| Older Posts |