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Regulatory Compliance

NWMLS adds referral fee disclosures to real estate forms

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Northwest Multiple Listing Service (NWMLS) has introduced new disclosure requirements aimed at increasing transparency around referral fees in residential real estate transactions across Washington state. The changes include a new stand-alone Referral Disclosure form and updates to brokerage services agreements. These additions are intended to inform buyers and sellers when a broker receives or pays […]

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Powell: Fed is reviewing Basel III, supplemental leverage ratio rules

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During a second straight day of testimony on Capitol Hill, Federal Reserve Chair Jerome Powell said the central bank is reviewing the Basel III rules (also known as the “Basel Endgame”), which would significantly increase bank capital requirements and could impact the mortgage industry, if implemented. Powell’s statement comes as the Fed prepares to vote

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CFPB cuts short monitoring of BofA mortgage practices

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The Consumer Financial Protection Bureau (CFPB) cut short a five-year agreement with Bank of America over the bank’s alleged submissions of false mortgage data. The agreement was supposed to be in place through at least November 2028. In a filing made public Monday, the CFPB said the bank “fulfilled the obligations” of the agreement signed in November 2023,

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Massachusetts set to bar home sellers from requiring inspection waivers

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Massachusetts homebuyers will soon be protected from being pressured into waiving home inspections under new regulation. The policy, put forth by the state’s Executive Office of Housing and Livable Communities (EOHLC), prohibits sellers and their agents from requiring or encouraging buyers to waive a home inspection as a condition of purchasing real estate. It also

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Judge blocks CFPB bid to undo Townstone redlining settlement

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A federal judge on Thursday blocked an attempt by the Consumer Financial Protection Bureau (CFPB) to reverse a $105,000 settlement with Townstone Financial, a Chicago-based mortgage broker accused of discouraging Black applicants. U.S. District Judge Franklin Valderrama ruled that allowing the CFPB to unwind the deal, finalized last year, “would erode public confidence in the

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CFPB enforcement head resigns, citing ‘no intention to enforce the law’

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Cara Petersen, who has served as the principal deputy enforcement director at the Consumer Financial Protection Bureau (CFPB) since late 2017, resigned this week with a letter that’s highly critical of the enforcement posture at the bureau under the new administration of President Donald Trump. Petersen’s resignation letter was obtained and initially reported on by

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Senators call for investigation of possible DOGE ethics violations

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Three senators are calling on the Department of Justice (DOJ) and federal watchdogs to investigate whether U.S. DOGE Service aides tasked with downsizing government agencies violated conflict-of-interest laws by holding stocks in companies overseen by thes, according to a recent ProPublica report. The request — sent last week by Sens. Elizabeth Warren (D-Mass.), Ron Wyden

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Federal Court blocks Trump’s ‘Liberation Day’ tariffs

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A federal trade court has blocked President Donald Trump’s efforts to impose broad tariffs under emergency powers — ruling the move exceeded the authority granted to the president by the 1977 International Emergency Economic Powers Act (IEEPA). A three-judge panel of the U.S. Court of International Trade issued the decision Wednesday, siding with plaintiffs who

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Partner Real Estate unveils $5K model for agent support

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California-based Partner Real Estate has announced a new business model that offers real estate agents access to tools, coaching and operational infrastructure for less than $5,000 per year. “The industry is at a turning point,” CEO Rudy Lira Kusuma said. “Agents shouldn’t have to spend six figures to perform like a top producer. Our mission

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Potential picks for CFPB director after McKernan nomination pulled

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With notable bumps in the road and quickly changing priorities, the road ahead for the Consumer Financial Protection Bureau (CFPB) during the second Trump administration remains clouded. The White House previously nominated someone for the CFPB’s director position who is largely seen as ideal by housing organizations across party lines. But that nominee, Jonathan McKernan,

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