A recent US Supreme Court opinion requires a West Virginia district court to take another look at a $10.6 million award issued against Rocket Mortgage LLC in a class action suit challenging its appraisal procedures, the Fourth Circuit said.
The suit was filed on behalf of 2,769 West Virginia residents who refinanced their mortgages with Rocket Mortgage between 2004 and 2009, when it was known as Quicken Loans Inc., and its appraisal company, Title Source Inc., which is now known as Amrock Inc.
The plaintiffs claimed that Rocket Mortgage promised independent and fair appraisals, but gave Title Source a form ...
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