CFPB Files Lawsuit to Stop Illegal Kickback Scheme to Steer …
Dec 23, 2024 · 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 ...
Homebuyers Deceived? CFPB Launches Major Lawsuit to End …
The CFPB accuses Rocket Homes of providing incentives to real estate brokers and agents in exchange for referring clients to Rocket Mortgage and its affiliate, Amrock, which handles title and ...
CFPB Sues Rocket Homes, Jason Mitchell Group Over Alleged …
Dec 23, 2024 · The CFPB claims that Rocket Homes required brokers to receive referrals to “preserve and protect” relationships with Rocket Mortgage by directing clients away from competing lenders.
Rocket Homes gave kickbacks to realtors for homeowner loans, CFPB …
Dec 24, 2024 · 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 ...
CFPB sues Rocket, The Jason Mitchell Group over RESPA violations
Dec 23, 2024 · The Consumer Financial Protection Bureau (CFPB) filed a lawsuit Monday accusing Rocket Homes of orchestrating a kickback scheme to funnel business to its sister companies, Rocket Mortgage and...
Federal watchdog accuses Rocket Companies' subsidiary of …
Dec 23, 2024 · The CFPB contends that this ability to give future referrals from the Rocket Homes network is a "thing of value" under the 1974 consumer law, whose definition of such things includes the ...
Feds sue Arizona real estate brokerage and Rocket Homes, …
Dec 24, 2024 · CFPB said a civil penalty was being sought that would be deposited in a victim’s relief fund. A statement from Rocket Homes said CFPB's allegations were false and distorted reality.
Rocket Homes accused of illegal kickback scheme by government …
Dec 23, 2024 · The top U.S. watchdog agency for consumer finance on Monday accused Rocket Homes, a unit of Rocket Companies, and The Jason Mitchell Group real estate brokerages of an illegal kickback scheme to ...
CFPB sues Rocket Homes over kickback scheme | National Mortgage News
Dec 23, 2024 · Some of these referrals were egged on by the promise that agents referring the most business to Rocket would receive a $250 gift card, the CFPB claims. The drive to pump more business to Rocket resulted in borrowers not receiving all available loan information, especially if it could potentially sway them to another mortgage lender, the ...
CFPB Sues Rocket Homes Over Alleged Kickback Scheme - MSN
The CFPB accused Rocket Homes of pressuring real-estate brokers and agents not to share information with clients about products not offered by Rocket Mortgage, such as the availability of down ...
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