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4th Circ. Affirms $9.7M Judgment Against Quicken Loans
Law360 (March 10, 2021, 11:51 PM EST) -- A split Fourth Circuit on Wednesday unwound Quicken Loan customers' $969,000 breach of contract win in a class action alleging Quicken used pressure tactics to raise appraisal values to obtain higher loan values on homes, while affirming an unconscionable inducement finding that resulted in a $9.7 million judgment against the lending giant.
In a published opinion authored by U.S. Circuit Judge James A. Wynn, the panel vacated the customers' summary judgment win on a breach of contract claim against Quicken, sending the claim back down to be considered again at the district court level.
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