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Feds sue Quicken over mortgage underwriting
San Jose Mercury News: NEW YORK -- The Justice Department is suing Quicken Loans, saying the lender approved hundreds of mortgage loans that didn't meet federal standards, leaving the government stuck with the bill when borrowers defaulted.
The U.S. Department of Justice said Thursday that between September 2007 and December 2011, Quicken approved, underwrote, and certified the insurance of hundreds of mortgages that didn't meet federal guidelines.
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