Quicken Loans

News & Analysis as of

Second Circuit Upholds District Court Decision, Applies New York’s Six-Year Limitations Period on Contractual Claims

On November 16, the Court of Appeals for the Second Circuit affirmed the Southern District of New York’s decision to dismiss a leading global bank’s complaint against a nonbank mortgage lender alleging breach of contractual...more

Second Circuit Upholds Dismissal of RMBS Lawsuit as Time-Barred

On November 16, the Second Circuit Court of Appeals affirmed the District Court’s dismissal of a lawsuit brought by Deutsche Bank National Trust Co. (acting as Trustee for RMBS Trust GSR 2007-OA1) against Quicken Loans,...more

Class Action Round-Up: Summer 2015

The big news this quarter is the U.S. Supreme Court’s acceptance of Tyson Foods, Inc. v. Bouaphakeo, an employment case likely to have major ramifications across the whole spectrum of class action litigation. The Court is set...more

West Virginia Supreme Court Of Appeals’ Refusal To Review Punitive Award For Excessiveness Under Due Process Clause Warrants...

As readers of this blog and litigants and their attorneys in punitive damages cases well know, the U.S. Supreme Court gets the final say on matters of constitutional interpretation, including the due-process requirements for...more

U.S. Files Complaint Against Leading Non-Bank Mortgage Lender For Alleged Improper Underwriting Practices on FHA-Insured Loans...

On April 17, Quicken Loans filed a preemptive lawsuit against the DOJ and HUD in the Eastern District of Michigan against HUD, the HUD-IG, and DOJ, asserting that it “appears to be one of the targets (due to its large size)...more

Quicken Loans Takes on the DOJ & HUD

Quicken Loans, the nation’s largest Federal Housing Administration (FHA)-backed mortgage lender, filed suit on Friday, April 17 in the United States District Court in Detroit against the United States Department of Justice...more

Financial Services Weekly News Roundup - April 2015 #4

FINRA’s Retrospective Rule Review Process Continues. On April 16, FINRA announced that the FINRA Board of Governors had authorized FINRA to publish a regulatory notice requesting comment on proposed amendments to Rules 2210...more

Mortgage Loans: Deutsche Bank v. Quicken Loans

We previously posted about ACE Securities Corp. v. DB Structured Products, Inc., 977 N.Y.S.2d 229, 231 (N.Y.A.D. 1st Dept. Dec. 19, 2013), which is a critical ruling out of New York’s intermediate state appellate court. In...more

Trustee’s Repurchase Suit Against Quicken Loans Dismissed as Time-Barred

On August 4, Judge Paul A. Crotty of the Southern District of New York granted Quicken Loans’ motion to dismiss a lawsuit brought by Deutsche Bank National Trust Co. (as Trustee of the GSR 2007-OA1 trust), alleging that...more

West Virginia District Court Certifies Rule 23(b)(3) Class Of Plaintiffs Alleging Violations Of Fair Credit Reporting Act Section...

The U.S. District Court for the Southern District of West Virginia certified a Rule 23(b)(3) class, holding that the class was sufficiently ascertainable and satisfied the requirements of Rule 23(b)(3). Plaintiff’s class...more

Arizona Court Strikes Down Restrictive Covenants

In a notorious case, the Arizona Court of Appeals yesterday struck down Quicken Loans’ non-solicitation covenants and confirmed that the defendants in the case were entitled to recover their attorneys’ fees. Quicken sued...more

What Do You Get When You Cross March Madness With Insurance?

A chance to win one billion dollars. Quicken Loans and Berkshire Hathaway recently announced that they are teaming up to award one billion dollars to be shared by persons who correctly predict the winners of every game in...more

NLRB 2013 Year in Review and 2014 Initiatives

Key labor law developments of 2013 are reviewed here for employers to consider as they look ahead to National Labor Relations Board (NLRB) developments in 2014. Employers should prepare to respond to the NLRB's continued...more

NLRB Gets Busy – Part 2 NLRB Incursion Into Non-Unionized Workplace

In January, we told you about recent activity by the National Labor Relations Board that overturned or departed from settled precedent. As promised, in Part 2 of this Alert series we summarize recent decisions where the...more

Sixth Circuit Confirms Exempt Status of Mortgage Loan Originators

Employers who rely on exempt classifications to avoid paying overtime—and particularly employers in the banking and financial services industries—should take in interest in a recent ruling affirming the exempt status of a...more

Employers Must Examine Their Employee Agreements For Compliance With The National Labor Relations Act

Recently, an Administrative Law Judge (ALJ) for the National Labor Relations Board (NLRB) issued a decision in Quicken Loans, Inc., which found confidentiality and non-disparagement provisions to be unlawful under the...more

NLRB Judge Rules on Confidentiality and Non-Disparagement Provisions

ALJ strikes down provisions in an employment agreement for violating the NLRA, finding they chilled employees' exercise of Section 7 rights. On January 8, an Administrative Law Judge (ALJ) for the National Labor...more

NLRB Issues Pair of Decisions Limiting Employer Discipline and Policies Regarding Social Media

The National Labor Relations Board (NLRB) recently issued a pair of decisions helping to clarify the limits on employers’ ability to (1) discipline employees for their social media activities and (2) implement confidentiality...more

Legal Alert: NLRB Judge Finds Confidentiality And Non-Disparagement Provisions In Employment Agreement Violate NLRA

Employers who seek to protect their confidential business information and their reputations by requiring employees to sign employment agreements containing confidentiality and non-disparagement clauses may now face opposition...more

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