Newsroom
August 10, 2017
Report: CFPB concludes Zillow investigation, seeking settlement
The CFPB has concluded a more than two-year investigation into whether Zillow's digital co-marketing plan violated part of the Real Estate Settlement Procedures Act and Consumer Financial Protection Act, according to a report this week by HousingWire.
The publication reported that Zillow gave an update on the investigation during its earnings call and said the CFPB wants to discuss a settlement.
Zillow's co-marketing program, as the company describes it, allows agents and mortgage lenders to advertise together on the company's apps and websites.
Specifically, the CFPB was investigating whether Zillow violated Section 8 of the RESPA and Section 1036 of CFPA. In both 2015 and this past April, Zillow received a civil investigation demand from the CFPB requesting more information from the company on its marketing practices.
The publication reported that Zillow gave an update on the investigation during its earnings call and said the CFPB wants to discuss a settlement.
Zillow's co-marketing program, as the company describes it, allows agents and mortgage lenders to advertise together on the company's apps and websites.
Specifically, the CFPB was investigating whether Zillow violated Section 8 of the RESPA and Section 1036 of CFPA. In both 2015 and this past April, Zillow received a civil investigation demand from the CFPB requesting more information from the company on its marketing practices.
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