Overview

• The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Rocket Homes and The Jason Mitchell Group, alleging violations of the Real Estate Settlement Procedures Act.
• The CFPB claims the companies engaged in a kickback scheme that pressured agents to direct homebuyers to Rocket Mortgage, discouraging comparison shopping for better loan options.
• Rocket Homes allegedly prioritized referrals to agents who steered clients to its affiliates and penalized those who did not comply, according to the lawsuit.
• The Jason Mitchell Group reportedly incentivized agents with $250 gift cards for referrals and created fear among clients about losing their homes if they chose other lenders.
• Rocket Companies denies the allegations, calling them false and politically motivated, while the CFPB seeks penalties and restitution for affected borrowers.