Industry News

Realogy, Coldwell Banker sue hazard reports company

Lawsuits allege company breached contract, sent unsolicited reports

Coldwell Banker Residential Brokerage companies and parent Realogy Services Group LLC have filed lawsuits against a hazard disclosure report company this month charging that the company sent unsolicited reports and sought payment from agents and has withheld at least $600,000 that the company was supposed to pay through a business agreement. The latest lawsuit, filed Sept. 7 in U.S. District Court in California, seeks damages of more than $3 million from Property I.D. related to claims that Property I.D. failed to fulfill its obligations under a business arrangement. According to that lawsuit, the U.S. Dept. of Housing and Urban Development and U.S. Federal Trade Commission last year had initiated an investigation of a business entity formed through an agreement by Property I.D. and Cendant, the corporation that Realogy was formerly a part of before becoming an independent company. The other lawsuit, filed Sept. 1 in Sacramento County Superior Court in California, charges unfair comp...