A federal watchdog agency is suing Rocket Homes, alleging the company provided kickbacks for real estate brokers and agents who steered homebuyers to Rocket Mortgage for loans, the Detroit News reports.
Rocket Homes and Rocket Mortgage are both subsidiaries of Dan Gilbert's Detroit-based Rocket Companies.
The News reports:
The lawsuit, filed Monday in U.S. District Court of Eastern Michigan by the Consumer Financial Protection Bureau, alleges that Rocket Homes told consumers that a buyer's agent represents the buyer and their interests during a home sale. But the company allegedly pressured brokers and agents to steer consumers to Rocket Mortage and away from competitors while also discouraging homebuyers from shopping around.
In exchange, Rocket offered brokers and agents homebuyer referrals and priority for future referrals in violation of the Real Estate Settlement Procedures Act, the CFPB said.
