Well, it looks like another California realty firm is forging exclusive — and highly questionable— business arrangements for settlement services, a move that appears to violate the Real Estate Settlement Procedures Act.
I just received a tip on this from a Prudential California Realty manager, who shall remain anonymous. If this is true, it’s not only an apparent RESPA violation, but a sad miscarriage of consumer trust. I’ll be investigating this issue further to see where it leads. I vow to keep the identities of all Prudential California Realty personnel confidential.
If you have information on this, contact me at mitch@respaobserver.com.
Thursday, July 30, 2009
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