The highly awaited Sitzer/Burnett buyer-broker commission lawsuit engages in its third day of proceedings. This was a day of intensive review into the training methods and materials used by brokerages. Furthermore, the testimony of three of the named plaintiffs was afforded significant assessment by legal teams. Among the considerations were the applicable scope of laws, standpoints from versed professionals within the mortgage sector, and the directives of client management organizations.

The core point of the case involves determining the level of commission payments applicable for buyer broker engagements. Key implications could result in changes to current state laws, regulations, and precedent understandings of the homebuyer-mortgage broker relationship. This has caused a surge in interest from stakeholders across the industry amid discussion of potential outcomes. In return, all collected evidence and data around the proceedings – as well as the liberties ascribed through legal precedents – is expected to be carefully evaluated in order to reach as just a conclusion as possible.

Bullet points of Summary:
• Assessment of training methods and materials were evaluated
• Testimony of three of the named plaintiffs individually scrutinized
• Relevant state laws, regulations, and precedent related to brokering reviewed
• Surge in interest among stakeholders regarding potential outcomes
• Careful evaluation of available evidence and precedents anticipated

You can read this full article at: required)

Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.