In the US mortgage industry, the debate surrounding class-action commission lawsuits has been reignited earlier this year. Supporters of these lawsuits argue that traditional brokerages and lenders in the industry are charging mortgage applicants huge commissions. This has resulted in consumers getting less competitive rates and higher costs when financing their home.
However, critics of these class-action commission litigations argue that the lawsuits are fundamentally misguided. They note that in the past, discount brokerages have offered even lower fees, but these have failed to attract a large amount of customers. This raises questions regarding the efficiency of such lawsuits.
The following are the most important elements of the text:
• Class-action commission lawsuits reignited in 2021
• Supporters argue fees are too high
• Critics argue law suits are misguided
• Discount brokerages should have attracted more customers
• Efficiency of lawsuits called into question
You can read this full article at: https://www.housingwire.com/articles/opinion-all-the-ways-the-class-action-commission-lawsuits-are-misguided/(subscription required)
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