A federal district court’s decision to certify a class-action suit against one of the highest-volume Realtor teams in the country should set off alarms for brokerage firms that have marketing agreements between themselves and settlement service providers, say RESPA legal experts. Not only is the class-action certification ominous in its own right, but it comes on top of indications that the Consumer Financial Protection Bureau is actively probing marketing agreements and other forms of affiliated business dealings, and is preparing at least several, as yet unannounced, enforcement actions involving realty firms. At the end of last month, a U.S. District Court in Maryland certified a major class-action suit against the Creig Northrop Team P.C., which is affiliated with Long & Fo...
Nov 18, 2013 by Andrea V. Brambila
Mar 21, 2012 by Matt Carter