Coldwell Faces Class Action Over Bogus Closing Fees

Law360, New York (August 23, 2011, 4:17 PM EDT) -- Coldwell Banker Residential Real Estate LLC was hit Monday with a proposed class action accusing it of violating federal real estate law by charging unexplained and unearned fees at loan closings.

Plaintiff Jason Falick claims Coldwell regularly charges customers a flat “professional fee” as a settlement charge on top of the commission it receives for assisting with real estate transactions, despite providing no extra services. Falick filed the suit in Florida federal court on behalf of all individuals who used the company's services to purchase residential...
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