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An unexpected exit from NAR’s leadership, a pushback to a controversial verdict and loan modification victims getting minimal justice. From the wild and wooly world of real estate, here are the Hits and Misses for the week of Jan. 8-12.

Miss: An Abrupt Departure. The National Association of Realtors’ (NAR) skein of woes grew deeper this week when 2024 President Tracy Kasper abruptly resigned over a blackmail threat. Without offering details, NAR said she “recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR.” For an organization that needs to go forward with stability and focus, this was the most bizarre way to start the new year. Nonetheless, we wish Kasper and her family the very best and hope that they will move beyond this unfortunate incident in peace.

Hit: Fighting Back. NAR was also in the headlines this week with the news it was teaming with Keller Williams and units of Warren Buffett’s Berkshire Hathaway to overturn last October’s $1.8 billion verdict in the Sitzer/Burnett trial. The case has already sparked a growing number of copycat lawsuits that have little to do with home buyer rights and too much to do with shyster lawyers trying to hustle a quick buck. Most likely, this case will wind up at the U.S. Supreme Court.

Miss: Too Little, Too Late. After six years of trying to achieve some semblance of justice for thousands of ripped-off homeowners, the U.S. Federal Trade Commission (FTC) is disbursing more than $1.2 million in refunds to borrowers who lost money to Consumer Defense, a fraudulent mortgage modification scheme. While that might sound like good news, the bad news is that the 6,261 consumers being helped by the FTC will only receive $201.34 each – many lost thousands of dollars in the fraud – and the agency added insult to injury by asking the recipients to cash their checks within 90 days upon receipt. In this case, justice was not only delayed but it was also diluted.

Hit: A Tar Heel Stomp. Praise belongs to the North Carolina Real Estate Commission for revoking the license of MV Realty, which racked up scores of complaints for its so-called Homeowner Benefit Program in which the company offered a one-time cash payment in exchange for the exclusive first rights to sell a property if the homeowner wanted to list it – and these contracts could last up to 40 years. According to WSOC-TV, MV Realty was given 120 days to wrap up the brokerage agreements it has in place and cannot sign new deals. The sooner companies like MV Realty are out of business, the better it is for all stakeholders in this industry.

Miss: A Canadian Malaise. A new study this week from TransUnion Canada found nearly one-third of respondents believe they will be unable to pay their bills this year, with 43% reporting their household finances for the fourth quarter of 2023 were worse than planned and 57% not feeling optimistic that the next 12 months will ease their financial burdens. Furthermore, 33% expected their bills and loan repayments to increase over the next three months and only 16% planned to apply for a new mortgage. If the Canadian economy sours further, it is safe to say that Prime Minister Justin Trudeau will be out of a job before the end of the year.

Phil Hall is editor at Weekly Real Estate News. He can be reached at [email protected].