For about four years, the Consumer Financial Protection Bureau (CFPB) has put marketing service agreements (MSAs) between real estate brokers, mortgage lenders and settlement service providers under a microscope, causing confusion and strife in the compliance world by ratcheting up its Real Estate Settlement Procedures Act (RESPA) litmus test for affiliated partnerships.
- A marketing service arrangement between Quicken and Re/Max has ended in two breach-of-contract lawsuits, one filed by each company.
- Quicken claims that Re/Max misled it about the value of the arrangement. Re/Max claims that Quicken failed to honor the agreement.
The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills