News Topic: Quicken Loans

Political donations from the sector and interviews with industry experts highlight a wide range of views on affordable housing resources, the appropriate level of regulatory relief and how policymakers should enforce fair housing rules. ... Read full article

Wells Fargo buys $14B of delinquent mortgages tied to pandemic; CFPB launches investigation of Quicken Loans real estate affiliate Rocket Homes Real Estate; Truist accelerates cost-cutting plans; and more from this week’s most-read stories. ... Read full article

The Detroit lender disclosed that the consumer bureau had sent a civil investigative demand to Rocket Homes Real Estate for potential violations of the Real Estate Settlement Procedures Act. ... Read full article

Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation approaches its 10th anniversary, the post-crisis regulatory regime has stayed largely intact. ... Read full article

But Boston Fed chief sees more interest among banks and borrowers if the economy worsens; the failed payments company is being investigated for its alleged role in a $100 million caper. ... Read full article

The Detroit-based parent company of Rocket Mortgage and Quicken Loans listed the size of its initial public offering as $100 million and says it made a profit the past three years. ... Read full article

Borrowers say getting the loans forgiven is just as complicated as obtaining the money; payment companies are holding some merchant funds in reserve as chargebacks spike. ... Read full article

Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering. ... Read full article

Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem. ... Read full article

Many banks have already scaled back home lending or even left the business. With profit margins shrinking, inventories of homes at crisis levels and competition from nonbanks intensifying, that’s unlikely to change. ... Read full article

Bill Emerson, the vice chairman of Quicken Loans, said mortgage lenders need to give time to consider innovation and not be deterred by naysayers. ... Read full article

At Digital Mortgage 2018, Bill Emerson, the vice chairman of Quicken Loans and its parent company Rock Holdings, outlined a vision of dramatic digital disintermediation. ... Read full article

Early adopters took digital mortgages from concept to reality. What will it take for everyone else to catch up? ... Read full article

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its ... Read full article