Is Zillow suing itself? Kind of… Zillow investors are accusing Zillow of saying they were compliant with RESPA which now has concerns with the CFPB saying they’re not.
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Is Zillow suing itself? Kind of… Zillow investors are accusing Zillow of saying they were compliant with RESPA which now has concerns with the CFPB saying they’re not.
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I almost fell off my chair laughing. Just see if you can get a Zillow employee to tell you they are RESPA compliant. They waffle like a dying fish. If you pay for agent co-advertising and they refer a potential client to you…voila! You are in violation. Now if you want to do that advertising just to be a nice person and NEVER do a loan for one of their clients, you’re good. I have heard this from numerous compliance specialists. If the Board was that disconnected from the operations of the company, they deserve whatever comes their way. This is really not news, everyone was just hoping it would go away. CFPB is not going to let that happen and now the Board just put them in the spotlight, if they weren’t already.