Rocket Mortgage is pushing back against U.S. accusations that it’s at fault for lowball appraisals by outside firms that allegedly discriminated against a Black borrower, contending that federal law bars lenders from trying to influence the valuations.
The nation’s largest retail mortgage lender is asking a federal court to fix “conflicting” regulatory mandates that require mortgage providers to use and oversee independent appraisers but keep hands off the results, Rocket Mortgage said Thursday in a statement.
The company, a unit of Detroit-based Rocket Cos., sued the U.S. Department of Housing and Urban Development and asked