Rocket Unit Sued by Consumer Financial Protection Bureau for Allegedly Paying Kickbacks to Realtors

MT Newswires Live

Dec 24, 2024

Rocket (RKT) unit Rocket Homes Real Estate was sued by the US Consumer Financial Protection Bureau for allegedly paying kickbacks to real estate brokers and agents so they could steer prospective borrowers to Rocket Mortgage, the regulator said Monday.

Rocket Homes allegedly "pressured" brokers and agents to withhold information on products not offered by Rocket Mortgage, such as the availability of down payment assistance programs that often save homebuyers thousands of dollars, according to the CFPB.

The CFPB also sued Jason Mitchell and his firm JMG Holding Partners, doing business as The Jason Mitchell Group, in the alleged scheme.

The allegations could result in civil penalties against Rocket Homes and Jason Mitchell and his firm for violations of the Real Estate Settlement Procedures Act, the CFPB added.

Rocket did not immediately respond to a request for comment from MT Newswires.

Shares of Rocket fell 3.6% in recent trading.

Price: 11.39, Change: -0.43, Percent Change: -3.64

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2493768797"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2493768797\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2493768797?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-24 04:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2493768797","market":"fut","top_or_hot":-1,"title":"Rocket Unit Sued by Consumer Financial Protection Bureau for Allegedly Paying Kickbacks to Realtors","media":"MT Newswires Live","content":"<html><body><p> Rocket (RKT) unit Rocket Homes Real Estate was sued by the US Consumer Financial Protection Bureau for allegedly paying kickbacks to real estate brokers and agents so they could steer prospective borrowers to Rocket Mortgage, the regulator said Monday.</p><p>Rocket Homes allegedly \"pressured\" brokers and agents to withhold information on products not offered by Rocket Mortgage, such as the availability of down payment assistance programs that often save homebuyers thousands of dollars, according to the CFPB.</p><p>The CFPB also sued Jason Mitchell and his firm JMG Holding Partners, doing business as The Jason Mitchell Group, in the alleged scheme.</p><p>The allegations could result in civil penalties against Rocket Homes and Jason Mitchell and his firm for violations of the Real Estate Settlement Procedures Act, the CFPB added.</p><p>Rocket did not immediately respond to a request for comment from MT Newswires.</p><p>Shares of Rocket fell 3.6% in recent trading.</p><p>Price: 11.39, Change: -0.43, Percent Change: -3.64</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rocket Unit Sued by Consumer Financial Protection Bureau for Allegedly Paying Kickbacks to Realtors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRocket Unit Sued by Consumer Financial Protection Bureau for Allegedly Paying Kickbacks to Realtors\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2024-12-24 04:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Rocket (RKT) unit Rocket Homes Real Estate was sued by the US Consumer Financial Protection Bureau for allegedly paying kickbacks to real estate brokers and agents so they could steer prospective borrowers to Rocket Mortgage, the regulator said Monday.</p><p>Rocket Homes allegedly \"pressured\" brokers and agents to withhold information on products not offered by Rocket Mortgage, such as the availability of down payment assistance programs that often save homebuyers thousands of dollars, according to the CFPB.</p><p>The CFPB also sued Jason Mitchell and his firm JMG Holding Partners, doing business as The Jason Mitchell Group, in the alleged scheme.</p><p>The allegations could result in civil penalties against Rocket Homes and Jason Mitchell and his firm for violations of the Real Estate Settlement Procedures Act, the CFPB added.</p><p>Rocket did not immediately respond to a request for comment from MT Newswires.</p><p>Shares of Rocket fell 3.6% in recent trading.</p><p>Price: 11.39, Change: -0.43, Percent Change: -3.64</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4547","symbol_name":"WSB热门概念","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2493768797","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493768797","pubTimestamp":1734984654,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Rocket  unit Rocket Homes Real Estate was sued by the US Consumer Financial Protection Bureau for allegedly paying kickbacks to real estate brokers and agents so they could steer prospective borrowers to Rocket Mortgage, the regulator said Monday.Rocket Homes allegedly \"pressured\" brokers and agents to withhold information on products not offered by Rocket Mortgage, such as the availability of down payment assistance programs that often save homebuyers thousands of dollars, according to the CFPB.The CFPB also sued Jason Mitchell and his firm JMG Holding Partners, doing business as The Jason Mitchell Group, in the alleged scheme.The allegations could result in civil penalties against Rocket Homes and Jason Mitchell and his firm for violations of the Real Estate Settlement Procedures Act, the CFPB added.Rocket did not immediately respond to a request for comment from MT Newswires.Shares of Rocket fell 3.6% in recent trading.Price: 11.39, Change: -0.43, Percent Change: -3.64","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4547":"WSB热门概念","RKT.AU":"Rocketdna Ltd","BK4195":"互助储蓄与抵押信贷金融服务","RKT":"Rocket Companies","BK7084":"电子设备和仪器","BK4229":"商业和住宅抵押贷款融资"},"translate_title":"Rocket Unit因涉嫌向房地产经纪人支付回扣而被消费者金融保护局起诉","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RKT.AU":1,"RKT":0.9},"content_text":"Rocket (RKT) unit Rocket Homes Real Estate was sued by the US Consumer Financial Protection Bureau for allegedly paying kickbacks to real estate brokers and agents so they could steer prospective borrowers to Rocket Mortgage, the regulator said Monday.Rocket Homes allegedly \"pressured\" brokers and agents to withhold information on products not offered by Rocket Mortgage, such as the availability of down payment assistance programs that often save homebuyers thousands of dollars, according to the CFPB.The CFPB also sued Jason Mitchell and his firm JMG Holding Partners, doing business as The Jason Mitchell Group, in the alleged scheme.The allegations could result in civil penalties against Rocket Homes and Jason Mitchell and his firm for violations of the Real Estate Settlement Procedures Act, the CFPB added.Rocket did not immediately respond to a request for comment from MT Newswires.Shares of Rocket fell 3.6% in recent trading.Price: 11.39, Change: -0.43, Percent Change: -3.64","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}