Quicken Loans Sues Government Over Mortgage Investigation
DETROIT (AP) - Quicken Loans has filed a lawsuit against the federal government, crying foul over an investigation into past lending practices.
The Detroit lender says there's a "political agenda" by the government to try to get Quicken to admit wrongdoing and pay huge penalties. The company says it's "honest and reputable," and it wants a judge to declare that certain government-backed loans were done properly.
The U.S. Justice Department declined to comment. The lawsuit was filed Friday in Detroit federal court.
Quicken says it's the largest lender of loans guaranteed by the Federal Housing Administration. It says it was notified nearly three years ago about an investigation by the government.
Quicken's founder, Dan Gilbert, has a high profile in the redevelopment of downtown Detroit.
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