“The CFPB ordered RealtySouth to pay a $500,000 civil penalty,” in 2014, “to settle claims [that the company] improperly steered homebuyers to use its own title insurance and closing agency.” Specifically, the CFPB alleged that “RealtySouth strongly encouraged its agents and, in certain instances, told them they were required to use RealtySouth’s family of services, in particular TitleSouth.”

• “RealtySouth must pay $500,000 to settle claims that the state’s largest residential real estate company improperly steered homebuyers to use its own title insurance and closing agency. RealtySouth doesn’t admit to wrongdoing in the settlement with the U.S. Consumer Financial Protection Bureau but did consent to the issuing of the order. The settlement comes after the CFPB identified violations of the Real Estate Settlement Procedures Act, or RESPA. The CFPB ordered RealtySouth to pay a $500,000 civil penalty to the bureau within 10 days. The consent order alleges: “RealtySouth strongly encouraged its agents and, in certain instances, told them they were required to use RealtySouth’s family of services, in particular TitleSouth. RealtySouth and TitleSouth are owned by the same company, HomeServices of America, an affiliate of Berkshire Hathaway.” [Michael Tomberlin, “RealtySouth ordered to pay $500K on claims of improperly steering customers,” Birmingham News, 06/04/14]

• “The consent order alleges that from March 2011 until May 2012, RealtySouth had a preprinted purchase contract that explicitly directed title and closing services for which consumers would pay a charge to TitleSouth.” [Michael Tomberlin, “RealtySouth ordered to pay $500K on claims of improperly steering customers,” Birmingham News, 06/04/14]

• “The CFPB ordered RealtySouth to make changes to its ABA Disclosure Statement in keeping with RESPA, and the consent order said RealtySouth did so after it was informed of the violations.” [Michael Tomberlin, “RealtySouth ordered to pay $500K on claims of improperly steering customers,” Birmingham News, 06/04/14]