Quicken Loans considers quitting FHA loans

The contentious legal battle between Quicken Loans and the Department of Justice over the DOJ’s allegations that Quicken violated the False Claims Act by “knowingly” submitting hundreds of “improperly underwritten” loans insured by the Federal Housing Administration may just be enough to drive Quicken Loans out of FHA lending completely.

According to a report from Reuters, Quicken Loans, which is currently the largest FHA lender, is considering ending its participation in FHA lending entirely, citing the government’s aggressive enforcement policies as the main reason for potentially dropping FHA lending.

Read on.

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