Commissions, objections, spring: Inman's Top 5 stories of the week
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers
by Dani Vanderboegh Feb 23
Ransomware group claims it was behind loanDepot cyberattack
The FBI has developed a decryption tool to combat the ALPHV/Blackcat ransomware variant, and authorities are offering $15M in rewards to stop the group
by Matt Carter Feb 21
Nevada homeseller files yet another commission lawsuit
Angela Boykin is suing over a home sale from 2022. Her case is the 2nd such recent lawsuit out of Nevada and adds to the growing number of cases that have followed the Sitzer | Burnett verdict
by Jim Dalrymple II Feb 20
DOJ to Nosalek judge: Broker commissions should be decoupled
The Department of Justice said a proposed settlement in the major antitrust lawsuit might itself violate federal law and said buyers should negotiate their broker's commission directly
NAR halts 'presidential initiatives' for next 2 years amid turmoil
The trade group will not take on pet projects for the duration of NAR President Kevin Sears' tenure, which is slated to last until November 2025, he told NAR's Board of Directors Wednesday morning
by Andrea V. Brambila Feb 15
NAR president: The DOJ is a 'bigger problem' than $1.8B Sitzer verdict
In remarks made in Boston that were later posted online, new NAR President Kevin Sears declared business will change for Realtors — whether they embrace it or have it 'forced down our throats'
FNB of Pennsylvania to pay $13.5M to settle redlining allegations
FNB's 2017 acquisition of Yadkin Bank for $1.8B expanded its footprint into North Carolina, where the DOJ alleges it avoided providing mortgages to majority-Black and Hispanic communities
by Matt Carter Feb 6
Attorney lays out how real estate can survive the commission suits
At Inman Connect, Ed Zorn proposed mandating buyer representation agreements, killing the MLS compensation field, adding a concession field, and creating a fund to pay out settlements
by Andrea V. Brambila Jan 26
Patriot Bank denies DOJ redlining allegations, settles for $1.9M
Government alleges competitors in the community bank's peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020
by Matt Carter Jan 19
James Dwiggins: NAR needs a top-down overhaul
Ahead of Inman Connect New York this month, the NextHome CEO said NAR serves an important function, but needs a major fix to deal with challenges related to leadership and commission suits
by Jim Dalrymple II Jan 9
From Sitzer to Moehrl, 2023 was the year of commission confusion
Sitzer | Burnett and its verdict cast a long shadow that will extend into 2024 and potentially shake up the real estate industry. But it wasn't the only lawsuit with commissions in the crosshairs
by Andrea V. Brambila Dec 28
It's time to consider eliminating NAR's Clear Cooperation Policy
Opinion
According to coach Darryl Davis, although its intentions were good, the unintended consequences of the Clear Cooperation Policy may make it more trouble than it's worth
by Darryl Davis Dec 27
The race to the bottom is about to begin in the real estate industry
Opinion
According to founder and CEO of 1 Percent Lists, Grant Clayton, it's time for the real estate industry to stop arguing about what's best for agents and start asking what's best for clients
by Grant Clayton Dec 26
Developer accused of marketing in Spanish, closing in English
Colony Ridge, the developer of more than 40,000 lots northeast of Houston, says its clients have no opportunity to get a loan from anyone else and dismisses federal lawsuit as baseless
by Matt Carter Dec 22
Title insurer First American Financial is hackers' latest target
The nation's 2nd biggest title insurer issues terse statement saying it's taken some systems offline. Ransomware group Blackcat has infiltrated more than 1,000 computer networks
by Matt Carter Dec 21