Buyer agreements don't lead to lower commissions, Fed finds
The paper concluded that while there has been a modest downward trend in buy-side commission rates, which fell from roughly 3% in the 1990s to around 2.7% in the 2020s, there was no evidence that the introduction of buyer agreements contributed to the downward trend - rather, rising home prices and technology improvements were cited as more likely factors in the decline.
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"Incalculable" Damage: How a "We Buy Ugly Houses" Franchise Left a Trail of Financial Wreckage Across Texas
Carrier is accused of orchestrating a years-long Ponzi scheme, bilking tens of millions of dollars from scores of investors, according to multiple lawsuits and interviews with people who said they lost money. The financial wreckage is strewn across Texas, having swept up both wealthy investors and older people with modest incomes who dug into retirement savings on the advice of the same investment advisor used by Carver.
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Georgia man sentenced to 20 years for $45K property fraud scheme
A Baldwin County man will spend the next 20 years behind bars after being convicted of real estate fraud that left a woman paying for a home she doesn't legally own, according to a Facebook post from T. Wright Barksdale with the Ocmulgee District Attorney's Office. Derrick Bernard Jackson was found guilty last week of theft by deception after prosecutors said he took $45,000 from a woman for a home he never intended to sell her, instead transferring the property to his sister.
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FCT Partners with Interac to Transform Identity Verification in Real Estate Transactions
FCT, Canada's leading provider of title insurance and real estate technology, today announced an agreement with Interac Corp. to integrate the Interac Verified credential service into FCT's real estate technology solutions. The agreement and pending integration set the stage for broader adoption of secure and reusable digital identity credentials across the Canadian real estate ecosystem, marking a major step toward a national standard for digitally secure real estate transactions in Canada.
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Texas Insurance Fraudster Given Prison Sentence and $350K Fine
A federal judge sentenced a McAllen woman who reportedly helped commit property and title fraud schemes to 24 months in prison and three years of supervised release. Chief U.S. District Judge Randy Crane also ordered Mayela Saby Cantu to pay $350,000 in restitution.
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Fannie Mae Releases New Title, Closing Requirements for Multifamily Mortgage Loans
Continuing a focus on knowing your clients and fraud, Fannie Mae released last week Title and Closing Requirements for Multifamily Mortgage Loans Form 4650, a comprehensive update that will impact how you set up future closings. The requirements detailed in the new Form 4650 apply to all new loans under application on or after May 8, 2025.
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