NEXA Lending CEO Mike Kortas is dismissing claims that the company misappropriated trade secrets and confidential customer data after being sued by rival lender loanDepot in federal court. The complaint alleges that NEXA knowingly assisted two former loanDepot employees in taking proprietary information before leaving the company and using it to solicit borrowers. The lawsuit […]
NEXA Lending denies loanDepot trade secrets lawsuit Read More »
Shareholder Michael Koblentz filed another lawsuit against Two Harbors Investment Corp. and its board of directors, alleging violations of the Securities Exchange Act tied to the company’s pending acquisition by CrossCountry Intermediate Holdco (CCM). Koblentz previously filed a similar suit targeting Two Harbors’ original merger agreement with UWM Holdings Corp. (UWMC), which was closed after
Two Harbors hit with shareholder lawsuit over CCM acquisition Read More »
The Batton homebuyer commission lawsuit plaintiffs have unsurprisingly taken a stand against the National Association of Realtors’ (NAR) decision to settle the homebuyer antitrust claims by opting-in to the Tuccori homebuyer commission lawsuit settlement. Due to the settlement, which was announced last Friday, NAR filed a motion to stay the Batton litigation, in which it
Plaintiffs push back on NAR’s bid to settle Tuccori commission lawsuit Read More »
The National Association of Realtors (NAR) has notched another favorable legal outcome. On Monday, Florida-based U.S. District Court Judge William Dimitrouleas dismissed NAR, as well as 11 Florida associations/MLSs from the lawsuit on the recommendation of Magistrate Judge William Matthewman. In early March, Judge Dimitrouleas adopted another report by the magistrate judge dismissing Connecticut Association
NAR and Florida MLS groups dismissed from Zea lawsuit Read More »
A newly filed class-action lawsuit accuses home equity investment (HEI) company Unison of misleading homeowners and structuring its products in ways that leave customers with far less equity than expected. The complaint, filed April 6 in the U.S. District Court for the District of Colorado by plaintiffs Katharine and Charles Kane, alleges that Unison and
Unison faces more legal trouble over allegedly deceptive home equity agreements Read More »
The National Association of Realtors (NAR) agreed to a proposed settlement that would resolve nationwide homebuyer commission lawsuit claims in the Tuccori homebuyer lawsuit. The agreement, announced Friday and subject to court approval, is structured as an opt-in component of the Tuccori master settlement. The opt-in window for the Tuccori master settlement closes next week.
NAR settles Tuccori homebuyer commission case for $52.25M Read More »
A federal judge has denied eXp Realty’s request to dismiss a fraud claim brought by four women who say the company lied about investigating their allegations of sexual assault by two former agents. U.S. District Court Judge André Birotte Jr. ruled this week that the fraudulent misrepresentation claim could move forward — including allegations that
eXp denied dismissal of fraud claims in sexual misconduct case Read More »
Detroit-based Rocket Companies this week moved to dismiss a lawsuit alleging violations of the Real Estate Settlement Procedures Act (RESPA), arguing that plaintiffs failed to demonstrate injury, relied on claims beyond the one-year statute of limitations and did not sufficiently plead unjust enrichment. The class-action suit, filed in late January, alleges that homebuyers who began
Rocket moves to dismiss RESPA suit, citing safe harbor and lack of injury Read More »
A federal judge in Texas has vacated the Financial Crimes Enforcement Network’s (FinCEN) nationwide anti-money laundering (AML) rule — creating a legal vacuum and uncertainty among title and real estate professionals. While the ruling eliminates a significant compliance burden that industry groups had criticized, legal observers warn that FinCEN retains broad authority over real estate
A Florida appeals court has ruled that funds available but not yet withdrawn from a reverse mortgage line of credit are protected under the state’s homestead exemption and cannot be garnished. The March 25 decision by the Fourth District Court of Appeal found that a creditor could not force a homeowner to access unused funds
Florida court shields unused reverse mortgage credit from garnishment Read More »