Quicken Loans Accused of Charging Illegal Interest on FHA Home Mortgage Loans
Quicken Loans, Inc. is accused of charging illegal “post-payment” interest on FHA home mortgage loans that were paid off or refinanced. “Post-payment” interest is currently not permitted on FHA loans and was only previously allowed in very specific circumstances. Quicken is the nation’s largest online retail mortgage lender and the largest FHA lender, yet is accused of failing to comply with FHA rules and of unlawfully collecting millions in “post-payment” interest.
If you got an FHA mortgage loan through Quicken before January 21, 2015, and have refinanced or paid off the loan, contact us. The lawyers at Cohen & Malad, LLP would like to speak to you about their investigation and possible legal action.