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 ...
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 ...
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 ...
CFPB Sues Rocket Homes, Jason Mitchell Group Over Alleged …
5 days ago · 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 …
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 ...
Federal watchdog accuses Rocket Companies' subsidiary of …
5 days ago · 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 ...
CFPB sues Rocket Homes over kickback scheme | National Mortgage News
5 days ago · 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 ...
Feds sue Arizona real estate brokerage and Rocket Homes, …
4 days ago · 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 …
5 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 real estate brokerages of an illegal kickback scheme to...
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.
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