Quicken Loans

DigMo 2020: The Year of Unexpected Disruption


The coronavirus pandemic has turned every industry on its head. For lending, it exposed the need for modernized, fully digital platforms.


Divisions in mortgage industry emerge ahead of 2020 election


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.


Wells takes back chunk of bad loans, CFPB probes Quicken unit, Truist’s cost-cutting: Top stories of the week


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.


CFPB launches investigation of Quicken Loans real estate affiliate


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.


Dodd-Frank at 10: How regulation has (and hasn't) changed since law's passage


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.


Main Street program starts slowly; DOJ probing Wirecard for bank fraud


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.


Home mortgage lender Quicken Loans files for IPO


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.


PPP recipients seek forgiveness help; processors delay paying out funds


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.


Bank stocks slump on Fed forecast; Quicken going public


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.


Home lenders brace for up to 15 million mortgage defaults


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.