Harrison McAvoy recently spoke with HousingWire regarding a recent suit asserting algorithmic conspiracy claims, against Optimal Blue, software for mortgage lenders:
Harrison McAvoy — a partner at Shinder Cantor Lerner LLP who specializes in antitrust law — thinks that the Optimal Blue suit shares some basic similarities with the commission lawsuits. But he also feels it much more closely resembles the antitrust litigation against rental pricing software firm RealPage.
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“In terms of the theory of competitive harm, this suit falls under the category of a developing area of the law, often referred to as algorithmic conspiracy. It also has a theory of anticompetitive information exchange,” McAvoy said. “This is all really about alleged coordination of pricing by originators through an information exchange and through pricing recommendations.”
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As McAvoy sees it, the only real similarities this lawsuit has with the commission lawsuits is the antitrust nature of the claims, and the fact that both types of allegedly inflated fees impact closing costs.
For the full article from HousingWire, click here (paywall).
