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Subtitles for Feds file lawsuit against Quicken Loans
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well first of all this is very
complex but the feds today
are suing Quicken Loans and then
just last week
quicken sued the fed's here's
why one thing is certain this is
tarnishing the image
Quicken Loans based in downtown
Detroit possibly its owner Dan
Gilbert to set up this major
in his hometown the Fed say the
problems for quick and go back
to 2007 and 2011
the Quicken was a direct
endorsement lender meaning they
FHA mortgages hundreds of course
properly loans were issued by
Quicken according to have heads
and the fed's also alleged the
company in college employees
to violate rules and also
to qualify for loans goes on to
say the Fed's that is a
management made exceptions to
break rules and that there were
hundreds have launched with the
faults costing taxpayers
millions now quick concert last
week it was suing the fed's
the feds got it wrong not the
company that they've tried for
years to understand the fed's
methodology and that they won't
make admissions that are not
quicken is the largest quality
FHA lender in this nation
and they go on to say that
they've made the fed's billions
in FHA insurance premiums bottom
they're going to battle it all
out in court in the newsroom Jim
the now Detroit hi john thank
you so much
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U.S. Department of Justice files lawsuit against Quicken Loans.
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