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Rocket Companies accused of mortgage steering
['Tribune News Service']
The News Herald
Up until its acquisition of Redfin last July, Rocket Companies had its own real estate listing website that routed potential buyers to independent real estate agents and brokerages.
The lawsuit claims Rocket Companies rewarded agents who steered clients to Rocket Mortgage and away from other lenders and threatened punishment for those who didn’t.
The lawsuit alleges Rocket Companies pressured agents to reach a goal of four out of every five clients using Rocket Mortgage.
Redfin brought inThe steering practice allegedly continued with Redfin agents after Rocket Companies acquired the real estate listing company for $1.75 billion in July.
Rocket Companies isn’t the only company Hagens Berman is accusing of an illegal mortgage steering scheme.