November 22, 2024 1:12 am
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Is major RESPA battle between Zillow and CFPB imminent?

zillow

zillowBy Brena Swanson | Housingwire

More than a month has gone by since Zillow last gave an update on the Consumer Financial Protection Bureau’s investigation into its practices, causing at least one analyst to question the likelihood the two parties will be able to reach a settlement.

And if no settlement is reached, the industry should ready itself for one of the biggest RESPA battles to date, as Zillow has continuously defended its practices.

While a lot is still unknown in the case, the issue centers on Section 8 of the Real Estate Settlement Procedures Act and Section 1036 of the Consumer Financial Protection Act.

During Zillow’s earnings call, they revealed that the CFPB concluded its investigation and wants to discuss a settlement.

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