Quicken Loans Worker Charged with Bank Fraud by Justice Department

Quicken Loans purposely induced prospective homeowners into entering into loans they should have never qualified for because they knew the Federal Government would secure those loans if they went bad.  Since they had nothing to worry about by making these loans they simply committed fraud and hurt not only the government but those people pursuing the American dream only to find out they would be foreclosed on in short order.  The Federal Government is not happy about having to pay these insurance claims for loans that should have never been made and has instituted a lawsuit against Quicken.  This is a classic example of how lax underwriting standards and an every growing demand for mortgage paper led to rampant abuse that hurt the government and the average citizen.  Call Jackson & Elrod, LLP today to find out if you are the victim of a predatory loan or fraud by your lender.

Chad D. Elrod, Esq.