Is The Government Suing Banks Out Of The Mortgage Market?

Last Thursday, the Department of Justice brought its latest high-profile mortgage-related lawsuit--this time against Quicken Loans Inc., a Detroit-based nonbank that's risen to become one of the largest mortgage originators in the country. Quicken Loans had brought its own lawsuit against the government the week before, alleging that the government had tried to get it to settle and admit to fraud charges it didn't commit. The lawsuit, and others like it, have implications far beyond any ultimate impact on companies' balance sheets. Many of the companies that have been targeted by the lawsuits ......(read more)

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