US accuses Rocket Homes of illegal kickbacks in mortgage scheme
5 days ago · Dec 23 (Reuters) - The top U.S. watchdog agency for consumer finance on Monday accused Rocket Homes, a unit of Rocket Companies (RKT.N), opens new tab, and The Jason Mitchell Group of real estate ...
CFPB Files Lawsuit to Stop Illegal Kickback Scheme to Steer …
6 days ago · WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) sued Rocket Homes to stop them from providing incentives to real estate brokers and agents in exchange for steering homebuyers to Rocket Mortgage, LLC for loans. The CFPB also sued Jason Mitchell, his real estate brokerage firm, JMG Holding Partners LLC, which does business as The Jason Mitchell Group, and the ...
Feds accuse Rocket Homes of providing kickbacks to real estate ...
4 days ago · The Consumer Financial Protection Bureau says Rocket Homes required brokers to steer homebuyers to the company’s sister firm, Rocket Mortgage, providing referrals of new customers in exchange. This type of arrangement is illegal under federal law because it encourages brokers to exploit consumers who rely on them, the lawsuit claims.
Consumer Bureau Accuses Rocket Homes of Illegal Kickbacks in …
2 days ago · The top U.S. watchdog agency for consumer finance on Monday accused Rocket Homes, a unit of Rocket Companies, and The Jason Mitchell Group of real estate ... New York to Fine Fossil Fuel Companies ...
Rocket Homes gave kickbacks to realtors for homeowner
5 days ago · For example, the CFPB said The Jason Mitchell Group gave $250 gift cards to agents that made the most referrals to its favored partners: Rocket Mortgage and Amrock, a Rocket Homes-affiliate that ...
Feds sue Arizona real estate brokerage and Rocket Homes, …
4 days ago · The suit alleges Rocket Homes and The Jason Mitchell Group violated the Real Estate Settlement Procedures Act, which prohibits agents from accepting "things of value" in exchange for referring ...
Federal watchdog accuses Rocket Companies' subsidiary of …
5 days ago · Rocket Homes pressured real estate brokerages to hit an 80% capture rate, the lawsuit says, meaning that at least 80% of consumers whom Rocket Homes referred to a brokerage would end up becoming ...
U.S. Consumer Regulator Sues Rocket Homes For Illegal Kickback …
4 days ago · (RTTNews) - The U.S. Consumer Financial Protection Bureau or CFPB has filed a lawsuit against Rocket Homes Real Estate, LLC, affiliated to Rocket Companies, Inc., as well as the Jason Mitchell ...
Rocket Homes Kickback Scheme Boosted Loan Rates, CFPB Says (1)
5 days ago · Rocket Homes Real Estate LLC used its connection to Rocket Mortgage, the country’s largest mortgage lender, to ensure that it was the exclusive mortgage option for many homebuyers, even if it offered worse rates, the CFPB said in a complaint filed Monday in the US District Court for the Eastern District of Michigan.
CFPB Sues Rocket Homes, Real Estate Brokerage Over Kickback …
5 days ago · In exchange for getting borrowers to go with Rocket Mortgage, Rocket Homes would give brokers and agents "homebuyer referrals and priority for future homebuyer referrals from [its] network," the CFPB states. Real estate agents who made the most referrals to The Mitchell Group’s "favored" partners – which included Rocket Mortgage and title, closing, and escrow services provider Amrock, both ...