The Supreme Court weighed in on a class action lawsuit against Quicken Loans, now Rocket Mortgage, regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender.
On Monday, the Supreme Court remanded the class action to the United States Court of Appeals for the Fourth Circuit to reexamine its March decision in favor of borrowers. Rocket had requested the revision of the case last fall.
The dispute involves a potential payment of $9.7 million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken details ⇒
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