Rocket Mortgage sues HUD to dismiss claims of appraisal discrimination [USA TODAY]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: USA TODAY
Rocket Mortgage, the nation's largest retail mortgage lender, has filed a lawsuit against the federal government seeking dismissal of a claim that the lender allegedly discriminated against a Black woman by undervaluing her home based on race. The lawsuit, filed against the U.S. Department of Housing and Urban Development (HUD), is asking a federal court to "correct conflicts" between government-created regulations that require appraiser independence and enforcement actions that hold lenders responsible for those appraisers' conduct, Rocket Mortgage said in a statement Thursday. In July, the HUD alleged that multiple appraisal companies — including Rocket Mortgage — had issued a biased appraisal against a Denver-area homeowner because she was Black, according to a statement at the time . The HUD claimed that the appraisal companies provided an "insupportably low appraisal" of a duplex in a predominantly white area of Denver. "Other recent appraisals of the same property had ste
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