Quicken Loans to pay $32.5M to resolve lawsuit over mortgages

Startup companies in Detroit compete for share of $1 million in Quicken Loans challenge
Posted at 1:39 PM, Jun 14, 2019
and last updated 2019-06-15 10:14:24-04

DETROIT (WXYZ) — Quicken Loans and the government have come to a resolution over a mortgage lawsuit.

It was determined that Quicken did nothing wrong, and the company agreed to pay $25.5 million for losses involving 'human error", plus $7 million dollars in interest.

The company release a statement saying, "Now that the dispute is behind us, we look forward to cultivating and expanding our relationship with both FHA and HUD so we can increase American's access to home financing and home ownership."