Banking and Finance Law Daily Wrap Up, ENFORCEMENT ACTIONS—New Jersey AG announces $2.8 million settlement with MV Realty, (Nov 3, 2025)
Organizations Mentioned:MV Realty PBC, LLC | MV Realty of New Jersey, LLC
By Suzanne Cosgrove
The state had alleged the company violated N.J.’s consumer protection laws, tricking homeowners into “Homeowner Benefit Agreements” that were in reality predatory loans.
New Jersey Attorney General Matthew Platkin and the state’s Division of Consumer Affairs have announced a $2.8 million settlement with MV Realty to resolve the state’s lawsuit alleging the Florida-based company violated New Jersey’s consumer protection laws by offering homeowners cash through the company’s deceptively named “Homeowner Benefit Agreement” program (HBAs) (Platkin v. MV Reality, No. ESX-C-000080-23 (Oct. 31, 2025)).
“During the COVID-19 pandemic, MV Realty targeted financially struggling homeowners in a deceptive scheme that locked up equity in their most valuable asset — their homes,” Platkin said in a release. “This settlement frees New Jerseyans from the unlawful liens MV Realty placed on their homes, provides monetary relief to those who suffered financially in this scheme, and holds MV Realty accountable for its deceptive practices.”
More than 1,200 New Jersey residents entered into the HBAs, the AG’s office said, including 140 who paid early termination fees ranging from $575 to $42,000 to get out of them.
Settlement details. The final consent judgment was filed Friday in New Jersey Superior Court in Essex County. MV Realty PBC, LLC and MV Realty of New Jersey, LLC (MV Realty) and their principals Amanda J. Zachman f/k/a Amanda J. Zuckerman, David Manchester, David Reiner, and Antony Mitchell a/k/a Tony Mitchell (collectively with MV Realty, the defendants), agreed to stop entering into HBAs with New Jersey consumers, cease enforcing existing HBAs in the state, including recovering or attempting to recover any early termination fee or other payment for any alleged breach of an HBA, and file terminations of MV Realty’s liens on homeowners’ properties.
The defendants also were assessed a $1.5 million civil penalty and required to pay $1,344,122 million in restitution to fully reimburse homeowners who paid early termination fees.
Initial complaint. In a civil complaint filed in 2023 (see Banking and Finance Law Daily, June 7, 2023), the state alleged that despite not being registered as telemarketers, as required by law, the defendants routinely placed unsolicited telemarketing calls to New Jersey consumers during the COVID-19 pandemic.
Targeting struggling homeowners, the defendants promised quick cash through MV Realty’s Homeowner Benefit program. Characterizing the program as “more than stimulus,” the defendants offered homeowners between $300 to $5,000 upfront in exchange for the opportunity to serve as their future real estate agents.
Consumer Fraud Act violations. The defendants represented that their product was not a loan, and homeowners had “no obligation” to repay MV Realty or to sell their home in the future. The suit alleged the defendants failed to disclose the true nature of the Home Benefits Program or their predatory terms upfront. Among other things, the defendants did not disclose to consumers that the program operated as a high-interest mortgage loan, that a lien would be placed against their home, that there was a 40-year contract term, or that the agreement was binding on the consumer’s heirs.
The defendants also failed to disclose to consumers that they would pay an early termination fee of at least 3 percent of the property’s value if the consumers listed the property for sale with another real estate agent, the home was foreclosed upon, the title of the home was transferred to a family member, heirs tried to sell the home, or if the consumer wished to cancel the deal.
The complaint alleged that MV Realty’s practices violated New Jersey’s Consumer Fraud Act, regulations governing general advertising and telemarketing do-not-call rules.
Attorneys: Matthew J. Platkin, Attorney General of New Jersey.
Companies: MV Realty of New Jersey, LLC; MV Realty PBC, LLC
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