The Department of Justice (DOJ) is examining the settlement agreement with MLS PIN in the buyer-broker commission suit filed on Thursday. The suit alleges that Fees Paradise and RPM Settlements unfairly charged buyers and encouraged agents to illegally increase their rate of commissions on sales.
The DOJ is looking to understand the settlement agreement and its effects on the various parties involved. The investigation seeks to uncover information related to per se violations against the Sherman Antitrust Act, which are violations of the law that harm competition and limit consumer choices. To assess this, the DOJ has requested:
• MLS PIN documents: Documents that outline the agreement, including legal details, between MLS PIN and jurisdictions and software providers that wish to update or extend their use of MLS PIN.
• Fees Paradise documents: Documentation that concerns Fees Paradise and its financial operations, legal and compliance functions, and customer relationships.
• RPM documents: Payment information concerning RPM Settlements, which is a platform that was used to collect buyer or seller refundable deposits, fees, and security deposits.
The DOJ is seeking data to ensure competition is not being restricted or harmed with the settlement agreement. In addition, the department is ensuring that consumers are receiving a fair and transparent process when dealing with real estate transactions. The DOJ is expected to make its final judgements in the coming months.
You can read this full article at: https://www.housingwire.com/articles/the-doj-intervenes-in-nosalek-buyer-broker-commission-lawsuit/(subscription required)
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