Industry News

Realogy, Coldwell Banker sue hazard reports company

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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...