The Department of Justice's case against Quicken Loans will be heard in Detroit; in an ongoing case filed in April 2015, the Department of Justice says Quicken Loans used faulty underwriting processes to certify Federal Housing Administration (FHA) loans while disregarding FHA rules; Quicken is a direct endorsement lender for the FHA and the loans in the court case were originated from September 2007 through December 2011. Source
"Rocket Mortgage has forever changed the way people think about getting a mortgage," said Jay Farner, CEO of Quicken Loans; for 2016 Quicken Loans has reported record originations of $96 billion with $7 billion contributed by Rocket Mortgage which has been originating loans for 11 months; consumers have reported high demand for the Rocket Mortgage product which provides a much simpler process for homeowners by digitally verifying income, credit, assets and property valuations. Source
