Justice Department Sues Quicken Loans for Mortgage Fraud

April 24, 2015

According to CBS News, The Justice Department is suing Quicken Loans, which allegedly approved hundreds of mortgage loans that didn’t meet federal standards.

The U.S. Department of Federal Housing and Urban Development said it had already paid millions of dollars in claims on the loans Quicken underwrote that defaulted, and more claims could be coming.

In response, Quicken sued the federal government last Friday, saying it had done nothing wrong and that the government’s investigation was a “witch hunt.”

Read more

Comments

expand_less