Escrow is up to its neck in regulations. Yet, kickbacks within the industry are common and enforcement is difficult. The California Department of Financial Protection & Innovation’s Escrow Advisory Committee has said as much. Still, just last week more allegations of kickback schemes reared their heads in a lawsuit and countersuit between former Portfolio Escrow managing director Maria Trangelo-Molina and Portfolio, which is owned by Douglas Elliman. Buried in the mudslinging is Portfolio’s allegation that Trangelo-Molina offered kickbacks to a number of local agents, Oppenheim Group’s Jason Oppenheim. Oppenheim is not a defendant in either case and told The Real […]
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