DOJ Sues Rocket Mortgage, Appraisal Companies For Alleged Racial Discrimination — Rocket Responds: 'Massive Overreach'
Portfolio Pulse from Adam Eckert
The DOJ has filed a lawsuit against Rocket Mortgage and associated appraisal companies for alleged racial discrimination in mortgage refinancing. Rocket Mortgage denies the allegations, calling it a 'massive overreach.' The lawsuit claims a Black homeowner's property was undervalued due to racial bias, leading to the cancellation of her refinance application.
October 21, 2024 | 10:05 pm
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Rocket Mortgage, a subsidiary of Rocket Companies, is being sued by the DOJ for alleged racial discrimination in mortgage refinancing. The lawsuit claims a Black homeowner's property was undervalued due to racial bias, leading to the cancellation of her refinance application. Rocket Mortgage denies the allegations, calling it a 'massive overreach.'
The lawsuit by the DOJ against Rocket Mortgage for alleged racial discrimination is a significant legal issue that could impact the company's reputation and stock price negatively in the short term. The company's denial and claim of 'massive overreach' may not immediately mitigate investor concerns.
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