Articles Posted in RESPA: HOME WARRANTY COMPENSATION

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New Orleans, LA — Marx Sterbcow, Managing Attorney of the Sterbcow Law Group, LLC, is returning as a featured speaker at the National REO Brokers Association (“NRBA“) Annual Education Conference, being held April 22–25, 2026, at the Green Valley Ranch Resort & Spa in Henderson, Nevada (Las Vegas area). 

At a Glance
Speaker Marx Sterbcow, Managing Attorney, Sterbcow Law Group, LLC
Session The State of the Real Estate Brokerage Industry: A 2026 Legal, Regulatory, and Market Outlook
Date & Time Thursday, April 23, 2026 — 10:00 AM to 11:15 AM PDT
Room Estancia DEFG General Session Ballroom
Event 2026 NRBA Annual Education Conference
Dates April 22–25, 2026
Venue Green Valley Ranch Resort & Spa, Henderson, Nevada
Audience NRBA member brokers, asset managers, servicers, and invited default-industry clients

The NRBA’s private Annual Conference is widely regarded as the most sought-after event in the REO industry, drawing asset managers, servicers, vendor managers, and executives from the nation’s leading default-servicing firms. This year’s conference runs Wednesday through Saturday at Green Valley Ranch, and early bird registration closed on January 15, 2026.

Session Details — Thursday, April 23 at 10:00 AM

Mr. Sterbcow’s general session — “The State of the Real Estate Brokerage Industry: A 2026 Legal, Regulatory, and Market Outlook” — is scheduled for Thursday, April 23, 2026, from 10:00 AM to 11:15 AM in the Estancia DEFG ballroom, immediately following the conference’s Opening Remarks and Market Overview. Drawing on his practice at the intersection of federal regulation, state enforcement, industry litigation, and transactional advisory work, the session will provide attendees with a comprehensive briefing on where the real estate brokerage industry stands today and where it is headed over the next twelve to twenty-four months.

Topics to Be Covered

Mr. Sterbcow’s presentation will move from the macro forces reshaping the brokerage business down to the compliance and litigation realities that REO professionals will face in the year ahead — beginning with the commission-structure overhaul and industry consolidation story, moving through federal regulatory priorities under a shifting CFPB, and closing with state-level enforcement and litigation trends. Topics include:

  • NAR Settlement aftermath and its practical implications for REO listing brokers, buyer-broker compensation, and cooperating agent agreements
  • DOJ involvement in real estate commission rules and the antitrust exposure facing private trade groups, MLSs, and brokerages — including whether trade associations can continue to shield brokers from antitrust liability
  • Industry consolidation, including the regulatory and MLS-governance implications of the Compass–Anywhere merger and the market-control questions raised by a combined entity
  • CFPB regulatory outlook under the current administration, including the Bureau’s shifting enforcement priorities and the operational questions that shift creates for regulated parties
  • RESPA enforcement trends and high-risk compliance issues in 2026, including recurring Section 8 pitfalls identified through recent federal and state examinations
  • State Attorney General enforcement against affiliated business arrangements (“AfBAs”) and marketing services agreements (“MSAs”), with a focus on how several states’ AGs are reshaping the compliant-AfBA analysis under RESPA Section 8(c)(4)
  • Litigation and risk-management lessons from recent federal and state RESPA cases, with takeaways for brokerages, title agencies, and lenders operating joint ventures

About the NRBA Annual Conference

The NRBA Annual Conference is a members-only event that brings together the nation’s top-producing REO brokers with the clients and asset managers who directly assign listings. Last year’s event hosted more than 40 clients from over 30 firms, and the 2026 event is expected to exceed that. Due to overwhelming demand, the Green Valley Ranch room block sold out in advance, and the NRBA has arranged overflow accommodations at the nearby Aloft hotel.

Frequently Asked Questions

When is the 2026 NRBA Annual Education Conference? The 2026 NRBA Annual Education Conference is being held April 22–25, 2026, running Wednesday through Saturday.

Where is the 2026 NRBA conference being held? The conference is at the Green Valley Ranch Resort & Spa in Henderson, Nevada, in the Las Vegas metropolitan area. Overflow accommodations are available at the nearby Aloft hotel.

When is Marx Sterbcow speaking at the 2026 NRBA conference? Mr. Sterbcow’s session is scheduled for Thursday, April 23, 2026, from 10:00 AM to 11:15 AM Pacific Time in the Estancia DEFG general session ballroom.

What is Marx Sterbcow’s 2026 NRBA session about? The session, titled “The State of the Real Estate Brokerage Industry: A 2026 Legal, Regulatory, and Market Outlook,” will provide a comprehensive briefing on the legal, regulatory, and structural forces shaping the real estate brokerage industry, including the NAR Settlement aftermath, DOJ antitrust activity, the Compass–Anywhere merger, the CFPB’s shifting enforcement priorities, RESPA compliance risks, state Attorney General enforcement of affiliated business arrangements and marketing services agreements, and key litigation trends.

Who should attend the session? The session is designed for REO listing brokers, cooperating agents, asset managers, servicers, vendor managers, title agency operators, lenders operating joint ventures, and any default-industry professional whose business is affected by federal and state real estate regulation.

Is the NRBA conference open to the public? No. The NRBA Annual Conference is a private, members-only event. For information on NRBA membership, visit nrba.com.

About Marx Sterbcow

Marx Sterbcow is the Managing Attorney of the Sterbcow Law Group, LLC. He counsels real estate brokerages, title insurance agencies, mortgage lenders, banks, and joint venture operators on the regulatory, transactional, and strategic questions that shape the real estate industry — from the structuring and compliance of affiliated business arrangements and marketing services agreements, to federal and state enforcement matters, to the legal and market implications of industry consolidation. His practice regularly places him at the intersection of RESPA, CFPB, fair lending, state Attorney General, and antitrust developments that redefine how brokerages and settlement service providers operate.

Notable Representations

Mr. Sterbcow has served as counsel or participated with the legal teams in significant federal and state regulatory enforcement matters affecting the real estate settlement industry, as well as in complex commercial and antitrust litigation. Representative matters include:

  • CFPB v. Townstone Financial, Inc. and Barry Sturner (N.D. Ill., No. 1:20-cv-04176) — Co-counsel for Townstone Financial and its founder in the Consumer Financial Protection Bureau’s first-of-its-kind redlining and Equal Credit Opportunity Act enforcement action, a matter that proceeded through the U.S. Court of Appeals for the Seventh Circuit and the federal district court’s 2025 ruling on the joint motion to vacate the stipulated final judgment. The CFPB’s decision to join Townstone in seeking vacatur of its own settlement was widely reported as unprecedented in the Bureau’s history.
  • CFPB v. Rocket Homes Real Estate, JMG Holding Partners (The Jason Mitchell Group), and Jason Mitchell (E.D. Mich., No. 2:24-cv-13442) — Counsel to The Jason Mitchell Group in connection with the CFPB’s December 2024 RESPA Section 8 enforcement action, which the CFPB voluntarily dismissed with prejudice in February 2025, and in related regulatory matters.
  • In re Meridian Title Corporation (CFPB Administrative Consent Order, 2017) — Lead member of the legal team representing Meridian Title in connection with the Consumer Financial Protection Bureau’s RESPA Section 8 enforcement action addressing affiliated business arrangement disclosures.
  • District of Columbia Office of the Attorney General v. Universal Title (D.C. OAG, 2024) — Lead and sole counsel for Universal Title in the District of Columbia Attorney General’s enforcement action involving title insurance joint ventures under D.C. Code § 31-5031.15.
  • CamSoft Data Systems, Inc. v. Southern Electronics Supply, Inc., et al. (La. 19th Jud. Dist. Ct., No. 582,741; La. 1st Cir. Ct. App.; M.D. La.) — Co-counsel for plaintiff CamSoft Data Systems, Inc. in a long-running commercial and antitrust action arising from the New Orleans Crime Camera Project and subsequent wireless surveillance technology sales, asserting claims under the Louisiana Antitrust Act (La. R.S. 51:122 et seq.) and related state-law theories against defendants including Dell, Inc., Ciber, Inc., and MMR Constructors, Inc.

Speaking, Publications, and Industry Leadership

Mr. Sterbcow is a frequent keynote speaker and panelist at national industry events, including the Real Estate Services Providers Council (RESPRO) Annual Conference, the National Settlement Services Summit (NS3), the American Land Title Association (ALTA) Large Agent Conference, the Texas Land Title Institute, and the NRBA Annual Conference. He has been recognized as a Super Lawyer and is a former President of the Louisiana Land Title Association. His commentary on RESPA, CFPB, real estate regulatory, and industry matters is regularly featured in RESPA News, HousingWire, National Mortgage News, American Banker, and other leading industry publications. Follow his ongoing analysis at the RESPA Lawyer Blog.

Past results afford no guarantee of future results. Every case is different and must be judged on its own merits. The representations described above reflect publicly available court filings, agency orders, and published reporting.

Connect With Us at the Conference

If you will be attending the NRBA conference, the Sterbcow Law Group team would be glad to connect. Please reach out in advance to schedule a meeting, and stay tuned to the RESPA Lawyer Blog for post-conference highlights and key takeaways on the issues discussed.

For more information about the NRBA conference, visit nrba.com. To learn more about the Sterbcow Law Group’s RESPA, CFPB, and affiliated business arrangement compliance services, visit respaattorneys.com or call 877-854-2182.

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The Dodd-Frank Update and The Legal Description legal publications at October Research, LLC have teamed up to host a 90-minute federal regulatory outlook webinar for mortgage, title insurance and settlement services professionals. This in-depth training features two top compliance attorneys who will educate participants on significant regulations impacting the industry in 2014. The webinar will be held on Tuesday, December 10, 2013 from 2:00-3:30 PM EST.

Speakers Mitch Kider, of Weiner Brodsky Kider PC, and Marx Sterbcow, of The Sterbcow Law Group, will define significant regulations, what companies should be doing now to prepare and what the regulatory landscape will look like as we move into yet another year of complying with thousands of pages of new and existing regulations. Topics will include:

•CFPB enforcement actions: Who’s at risk and what to expect;

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Marx Sterbcow, Managing Attorney at Sterbcow Law Group, and Charles Cain, Of Counsel to Sterbcow Law Group and Senior Vice President to WFG National Title Insurance Company, have been selected by the Louisiana Land Title Association (LLTA) to speak at the LLTA’s Annual Conference on the topic of real estate settlement procedures act (RESPA) compliance involving marketing service agreements. They will discuss the latest issues surrounding the use of Marketing Agreements and whether an enforcement action or guidance bulletin by the CFPB involving the use of these agreements may be forthcoming.

The presentation will discuss what a typical Marketing Agreement is; how the HUD interpretive rule on home warranties impacts Marketing Services Agreements, identifying red flags in MSAs, and the impact the Federal Financial Institutions Examination Council (FFIEC) third party social media compliance bulletin may have on your marketing agreement.

The LLTA Conference is being held at the Hotel Monteleone in New Orleans on Dec. 4-6, 2013.

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The 8th Circuit Court of Appeals overturned a district court decision in the Charvat v. Mutual First Federal Credit Union case. The case involved a violation of the Electronic Fund Transfer Act (“EFTA”) 15 U.S.C. §1693 where the Charvat’s made several ATM withdrawals from two Nebraska banks. The 8th Circuit stated “The EFTA requires ATM operators to provide two forms of notice, one “on or at” the ATM machine and another on-screen during the ATM transaction, if the bank operators charged a ATM transaction fee. The ATM machines in question failed to provide the required notice disclosure on the “on ATM machine” and this was the basis for the class action.

The 8th Circuit held that “[D]ecisions by this Court and the Supreme Court indicate that an informational injury alone is sufficient to confer standing, even without an additional economic or other injury.” The 8th Circuit further stated that Charvat identified a variety of instances where the denial of a statutory right to receive information was sufficient to establish standing and cited to the Fed. Election Comm’n v. Akins case and more importantly the Dryden v. Lou Budke’s Arrow Fin. Co. which was a Truth-In-Lending Act case.

The citing of the Dryden case is particularly important because the 8th Circuit said ” “f [borrower] proved that the disclosure provisions of [TILA] and Regulation Z were violated in connection with the January 26 transaction, [lender] is liable for statutory damages.”).” The 8th Circuit said the EFTA creates a right to a particular form of notice before an ATM transaction fee could be levied. If that notice was not provided and a fee was nonetheless charged, an injury occurred, and the statutory damages are directly related to the consumer’s injury.”

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Marx Sterbcow, Managing Attorney at Sterbcow Law Group, and Charles Cain, Of Counsel to Sterbcow Law Group and Senior Vice President to WFG National Title Insurance Company, have been selected by RESPA News to co-present a webinar on the future of marketing agreements under the Consumer Financial Protection Bureau (CFPB). We discuss way to prepare for and deal with the latest issues surrounding the use of Marketing Agreements (also known as Preferred Provider Agreements, Marketing Services Agreements, Advertising Agreements, or Co-Branding Agreements) and whether an enforcement action or guidance bulletin by the CFPB involving the use of these agreements may be forthcoming.

The presentation, entitled “Reviewing your Marketing Agreement and the Interpretive Rule Webinar” will cover issues such as the what a typical Marketing Agreement is; how the HUD interpretive rule on home warranties impacts their use, how to minimize your risks by looking for red flag language, and the impact the Federal Financial Institutions Examination Council (FFIEC) third party social media compliance bulletin may have on your marketing agreement. The FFIEC’s social media bulletin will have a significant impact on the use of these agreements so this is a webinar event you do not want to miss.

This event is from 2:00-3:00 PM EST on Wednesday, May 18, 2013.

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On April 13, 2012 the Consumer Financial Protection Bureau (CFPB) issued Bulletin 2012-03 titled “Service Providers”. The CFPB stated that it expects supervised banks and nonbanks to oversee their business relationships with their service providers in a manner that ensures compliance with Federal consumer financial law, which is designed to protect the interests of consumers and avoid consumer harm.

The term “Service Provider” is defined in Section 1002(26) of the Dodd-Frank Act as “Any person that provides a material service to a covered person in connection with the offering or provision by such covered person of a consumer financial product or service.” (12 U.S.C. Section 5481(26)). A “Service Provider” may or may not be affiliated with the person to which it provides services.”

The Consumer Financial Protection Bureau in its bulletin states that the CFPB “recognizes that the use of service providers is often an appropriate business decision for supervised banks and nonbanks. Supervised banks and nonbanks may outsource certain functions to service providers due to resource constraints, use service providers to develop and market additional products or services, or rely on expertise from service providers that would not otherwise be available without significant investment.”

The CFPB’s bulletin expresses concerns about the lack of liability by the lender to the consumer for third party behavior. “The mere fact that a supervised bank or nonbank enters into a business relationship with a service provider does not absolve the supervised bank or nonbank of responsibility of complying with Federal consumer financial law to avoid consumer harm. A “service provider” that is unfamiliar with the legal requirements applicable to the products or services being offered, or that does not make efforts to implement those requirements carefully and effectively, or that exhibits weak internal controls, can harm consumers and create potential liabilities for both the service provider and the entity with which it has a business relationship.” The Consumer Financial Protection Bureau states that “depending on the circumstances, legal responsibility may lie with the supervised bank or nonbank as well as with the supervised service provider.”

In short the CFPB now expects supervised banks and nonbanks to make sure the service providers comply with the law. The CFPB by issuance of this bulletin has effectively put the entire real estate industry on notice that if they want to do business in the future they had better make sure their internal controls are in place otherwise the supervised bank or nonbank will cease doing business with you.
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The Heather Q. Bolinger, et al v. First Multiple Listing Service, Inc., et al (Case 2:10-cv-00211-RWS) which is being litigated in the United States District Court for the Northern District of Georgia Gainesville Division survived the Defendant’s Motion to Dismiss the case on January 18, 2012.

The First Multiple Listing Service Inc. lawsuit contends the federal Real Estate Settlement Practices Act (“RESPA”) requires full disclosure of all fees and charges in real estate closings involving a federal mortgage loan. RESPA also prohibits unearned fees or kickbacks designed to encourage the referral of business by settlement service providers, such as First Multiple Listing Service (“FMLS”) and its member real estate brokers. One of the principal purposes of these RESPA provisions is to lower the cost of real estate closings to consumers by eliminating secret, disguised, and inflated charges.

The Bolinger et al. class action lawsuit alleges that:

1. Members of FMLS, which include virtually every residential real estate broker and agent in North Georgia, are required to list with FMLS all properties for sale and to pay undisclosed, unearned transaction fees to FMLS after closing and all services are rendered. Consumers either pay these fees directly or through inflated commissions.

2. Real Estate Brokers receive a kickback of all or substantially all of those fees from FMLS, and share in transaction fees paid on other closings. The suit further contends that these unearned hidden settlement fees and kickbacks are funded by real estate commissions paid by consumers. The hidden transaction settlement fee is $1.20 per thousand dollars of the selling price (i.e., .0012% of the sales price), and is doubled if the listing and selling agents work for different real estate brokers.

For example, the sale of a house for $200,000 with different listing and selling real estate agents would result in an undisclosed hidden transaction settlement fee of $480. In most transactions, the hidden settlement fee is not disclosed to the buyer or seller, either in the voluminous documents executed at closing or otherwise, and the kickbacks are never disclosed.

3. In addition to violating RESPA, these practices violate the Sherman Act, which is the core federal antitrust law. Notably, the “MLS Antitrust Compliance Policy” of the National Association of REALTORS® expressly prohibits basing MLS fees on a percentage of the sales price rather than the value of the services rendered [download NAR policy here]. Yet investigation for the lawsuit found not only that, as alleged, FMLS charges a per-transaction fee based on the sales price, and pays a kickback to brokers for utilizing its services, but that FMLS may be the only MLS in the country to do so. Further, the fees associated with FMLS are alleged to be higher than those charged by MLS’s elsewhere in Georgia and around the country.

Taylor English Duma LLP, a law firm with offices in Atlanta and Savannah, Pope, McGlamry, Kilpatrick, Morrison & Norwood, LLP, a Georgia law firm with offices in Atlanta and Columbus, and the New Orleans based Sterbcow Law Group LLC have filed a lawsuit on behalf of buyers and sellers of residential real estate in metro Atlanta and North Georgia against First Multiple Listing Service, Inc. (“FMLS”), its member real estate brokers, the agents who handled the transactions of the named plaintiffs, and three boards of REALTORS®, alleging a longstanding practice of FMLS and its members in charging buyers and sellers unearned hidden transaction fees in connection with residential real estate closings in violation of federal and state law. FMLS is a multiple listing service (“MLS”) that provides an electronic database for listing residential real estate for sale. It is the largest MLS in metro Atlanta and North Georgia.

For more information please visit the FMLS CLASS ACTION WEBSITE.
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H.R. 2446 known as the “RESPA Home Warranty Clarification Act of 2011” passed The Insurance, Housing, and Community Opportunity Subcommittee last week. US Congresswoman Judy Biggert sponsored the bill and is the Chairman of the subcommittee. The RESPA Home Warranty Clarification Act as currently written by Rep. Biggert seeks to clarify the scope of RESPA by exempting home warranty companies as settlement service providers and would require that consumers are given clear notice that their real estate agent could receive a referral fee for selling them a home warranty. According to Rep. Biggert, Home warranties should not be subjected to these RESPA regulations because the sale of home warranties is outside the scope of RESPA.

Rep. Biggert seeks to overturn the Department of Housing and Urban Development’s Interpretive Rule which stated that a “homeowner’s warranty is covered as a “settlement service” under HUD’s RESPA regulations at 24 CFR 3500.2 it issued on June 25, 2010.
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The Consumer Financial Protection Bureau “CFPB” announced plans today to implement an early warning enforcement action plan (“the Early Warning Notice“) which would allow those under investigation the ability to respond to the CFPB. The CFPB Bulletin 2011-04 (Enforcement) announced the first in a series of periodic bulletins the CFPB will release which are aimed at providing information about the policies and priorities of the CFBP’s Bureau of Enforcement.

“Before the Office of Enforcement recommends that the Bureau commence enforcement proceedings, the Office of Enforcement may give the subject of such recommendation notice of the nature of the subject’s potential violations and may offer the subject the opportunity to submit a written statement in response. The decision whether to give such notice is discretionary, and a notice may not be appropriate in some situations, such as in cases of ongoing fraud or when the Office of Enforcement needs to act quickly.”

It is important to note that if the subject(s) of an investigation is asked to provide the Bureau of Enforcement a response statement and the subject prepares and submits the response statement under oath to the Bureau the response may be discoverable by third parties.

The Early Warning Notice also allows any person involved in an investigation to voluntarily submit a written statement at any point during an investigation.
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The United States Department of Housing and Urban Development “HUD” announced a settlement with Fidelity National Financial (NYSE: FNF) in the amount of $4.5 million dollars for HUD’s contention that Fidelity violated the Real Estate Settlement Procedures Act “RESPA” when it paid real estate brokers and other settlement service providers illegal kickbacks and improper referral fees for referring business through an “Application Service Provider Agreement.” The Application Service Provider Agreement provided real estate brokers and other settlement service providers with access to Fidelity’s TransactionPoint closing software. TransactionPoint allowed real estate brokers and others to select real estate settlement service providers for a particular real estate transaction. The real estate brokerages would then enter into Sub-License Agreements with subsidiaries of Fidelity to enable Fidelity’s subsidiaries to be listed in TransactionPoint as a provider of settlement services.

The settlement said Fidelity’s subsidiaries would then in turn compensate the real estate brokerages a fee for each referral of real estate. Re-insider.com was the first to break this story and has extensive coverage on the topic for those who wish to learn more. It is important to note that HUD’s Settlement Agreement only applies to Fidelity and not to the real estate brokerages who recieved the kickbacks and illegal referrals fees so it is possible that more settlements will be announced as it pertains to those companies who recieved the kickbacks and improper referral fees.

The settlement can be viewed by clicking this link: FIDELITY SECTION 8 RESPA SETTLEMENT

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