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.