Judge Denies Motion to Reconsider in Quicken Loan Class Action Case
A class-action lawsuit alleging that Quicken Loans originated unlawful loans in West Virginia in a scheme with a number of appraisers will move forward after a federal judge denied a motion to reconsider prior motions that had gone against the defendants.
The lawsuit alleges that Quicken Loans furnished appraisers with target values in an effort to manipulate the appraisal process and cause borrowers to enter into improper mortgage loans.
On August 25, U.S. District Judge John Preston Bailey of the Northern District of West Virginia denied the defendants motion for reconsideration and for oral argument. The defendants include Quicken Loans and Title Source Inc. and other appraisers that allegedly cooperated with Quicken in the scheme.
The plaintiffs are represented by John Barrett and Jonathan Marshall of Bailey Glasser’s Charleston, West Virginia office, as well as James Bordas and Jason Causey of Bordas & Bordas.