Attorney on Quicken’s Lawsuit; Fixing Appraisal System; Final Rules on AMCs

By Rob Chrisman

Posted To: MND NewsWire

Many lenders are watching this battle of industry frustration from the sidelines: Quicken vs. the DOJ, and vice versa . Prior to the government suing Quicken, Matthew Schwartz , a former federal prosecutor who is now a partner at Boies, Schiller & Flexner in New York, wrote, “Quicken Loan’s decision to sue the Government over what it has alleged is arbitrary and capricious conduct related to the investigation of Quicken’s lending practices is unconventional, to say the least. The lawsuit itself is a legal long shot. The government generally has immunity and great discretion where it doesn’t, over how it conducts its investigations or settles enforcement actions. But the lawsuit gives voice to an increasingly popular sentiment among financial institutions: that the government is, for political…(read more)

Via:: Attorney on Quicken’s Lawsuit; Fixing Appraisal System; Final Rules on AMCs