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Volume 2017 - Number 11

March 16, 2017

Detroit Court Ruling in Government’s FHA-Related Case Against Quicken Loans Narrows Lender’s Potential Liability

A recent decision by a federal judge in Detroit dismissing portions of the Department of Justiceís FHA-related claims against Quicken Loans will shrink the lenderís liability under the False Claims Act, according to a legal expert. In a decision rendered March 9 on the closely watched case, U.S. District Judge Mark Goldsmith narrowed the scope and timeframe for which the DOJ can pursue any recovery or settlement against Quicken Loans for FHA losses allegedly due to faulty underwriting and loan default performance. It is the first major decision since the DOJís suit was transferred from federal court in Washington, DC, to federal court in Detroit last year. The DOJ and the Department of Housing and Urban Developmentís Office of the Inspector General began...

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