DETROIT, MI – Quicken Loans Founder Dan Gilbert isn’t backing down from a battle with the Department of Justice.
But neither is the federal government, it seems.
In an exclusive interview with the Detroit Free Press, Gilbert said the DOJ’s allegations accusing Quicken of costing the Housing and Urban Development Department millions between 2007 and 2011 by issuing Federal Housing Administration loans to home buyers who were clearly unlikely to be able to keep up with mortgage payments are wrong.
The government is trying to get a big settlement out of the Detroit-based loan company, Quicken has said.
Quicken Loans last week filed a pre-emptive lawsuit against the the U.S. Housing and Urban Development Department and the Department of Justice, claiming it’s being unfairly pressured into agreeing to a costly settlement and admitting guilt in a faulty loan investigation.
Quicken alleges in the lawsuit that the Justice Department “repeatedly threatened a high profile lawsuit
against the company” unless it admits to using flawed lending practices in issuing Federal Housing Administration Loans.