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In the spring, the National Association of Realtors agreed to a $418 million settlement and rule changes to answer a class-action suit alleging a fee conspiracy to inflate broker commissions.
I t was huge news at the time: the National Association of Realtors (NAR) agreed in March to pay $418 million and make changes to how the home-buying process works in order to settle a class ...
Real estate broker commissions are on the hot seat again. A new federal class-action lawsuit filed in South Carolina alleges that the powerful National Association of Realtors (NAR) and real ...
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601 – 2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating ...
Real estate settlement companies work with the lenders and real estate agents of both the buyer and seller in order to facilitate the terms of a real estate contract . There can be confusion between real estate settlement companies and mortgage originators. A customer would contact a bank (lender) for a mortgage, and would contact a real estate ...
Mortgage Electronic Registration Systems, Inc. (#3 1999 version) is the owner of record (or the owner's nominee) of the security interest arising from mortgages extended by lenders, investors and their loan servicers and recorded in county land records. By using MERS, the lenders and investors who are the real parties in interest avoid the need ...
The new rules were agreed to as part of a $418 million settlement with the National Association of Realtors and several large real estate firms last March, ending the first in a string of similar ...
The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate, [1] [2] refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks—including Bank ...
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