Tag Archives: Department of Justice

Court tosses redlining suit sparked by mortgage broker’s radio show

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Regulators alleged statements made by hosts of Townstone Financial’s call-in show discouraged “prospective” African-American applicants from seeking mortgage loans. Continue reading →

NAR-DOJ ruling divides agents over commission, pocket listing rules

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Agents and brokers who spoke to Inman following the ruling in favor of NAR disagreed on who is “overreaching” in the case and on whether changes to the controversial rules are necessary. Continue reading →

Federal court rules in favor of NAR in longtime DOJ probe

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District court judge sets aside DOJ demand for information from the NAR on buyer broker commission and pocket listing rules. Continue reading →

DOJ asks to interfere in TAN pocket listing case against NAR

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Top Agent Network’s appeal alleges the Clear Cooperation Policy’s goal is to safeguard NAR’s business model, which relies on dues revenue from nearly 1.6 million agents and brokers. Continue reading →

City National Bank to pay at least $31M to settle redlining charges

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The biggest redlining settlement in DOJ history is the fifth enforcement action since the launch of the initiative to combat redlining in 2021, with $75 million in relief to date. City National denied that it engaged in redlining. Continue reading →

US lawmakers demand DOJ probe into RealPage’s YieldStar software

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Lawmakers in both chambers of Congress have accused RealPage of anticompetitive practices. Calls for an inquiry come a month after a sweeping and critical report into the company. Continue reading →

Massachusetts broker gets 2.5 years for $1.8M homebuyer scheme

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The U.S. District Court of Massachusetts sentenced broker Michael Flavin to 30 months in federal prison for manipulating homebuyers into signing $1.8 million in fraudulent contracts, according to The Real Deal on Sunday. Continue reading →

‘Don’t wait until the plane crashes’: Lawyers offer grim antitrust update

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Chris Osborn, Mitch Skinner and Claude Szyfer offered an update on multiple industry antitrust lawsuits at the Council of Multiple Listing Services’ annual conference. Continue reading →

WATCH: How will buyer’s agents make money if the DOJ wins?

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The ongoing lawsuits and investigation into U.S. industry practices could alter how buyer’s agents make money on the typical home sale, panelists said earlier this month at Inman Connect Las Vegas. Continue reading →

Industry warned to prepare for $40B hit on commissions

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Buyer’s agents, and the ecosystem of companies that provide services to them, would bear the brunt of legal challenges to the traditional commission structure, Brian Boero said at Inman Connect. Continue reading →