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US accuses Rocket Homes of ‘illegal kickbacks’ in mortgage scheme

(Reuters) – The top U.S. watchdog agency for consumer finance on Monday accused Rocket Homes, a unit of Rocket Companies, and a group of real estate brokerages of an illegal kickback scheme to steer mortgage applications to Rocket Mortgage.

“Rocket engaged in a kickback scheme that discouraged homebuyers from comparison shopping and getting the best deal,” said CFPB Director Rohit Chopra. “At a time when homeownership feels out of reach for so many, companies should not illegally block competition in ways that drive up the cost of housing.”

This post appeared first on investing.com

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