In Zillow’s August 8 earnings call, they announced that the CFPB had concluded their two-year investigation and intends to pursue further action if discussions don’t result in a settlement. At issue are co-marketing agreements between LOs and RE Agents to split Zillow ad costs. CFPB has not commented on the matter and we will continue to monitor the matter and provide updates on future developments.
- Loan Defects, Fraud and Misrepresentation Activity Rising in 2018
- Mortgage Lenders and Servicers Are “Debt Collectors” Under California’s Rosenthal Fair Debt Collection Practices Act
- Ninth Circuit Rejects Bank of America’s Dodd-Frank Preemption Argument and Allows Class Action for Violation of California’s Mortgage Escrow Law Requiring Interest Payments to Proceed
- LBHI Round Three Claims Expected After New York Bankruptcy Court Ruling Concluded in March
- CFPB Investigation of Zillow