On December 23, 2024, the Consumer Financial Protection Bureau (CFPB) accused Rocket Homes Real Estate, a unit of Rocket Companies, of engaging in an illegal kickback scheme. The CFPB alleged that Rocket Homes provided referrals and other inducements to real estate brokerages. These actions were purportedly designed to steer real estate settlement business back to Rocket affiliates, including Amrock and Rocket Mortgage.
CFPB Director Rohit Chopra stated that Rocket's alleged scheme discouraged homebuyers from comparison shopping, potentially driving up housing costs. The agency highlighted instances where 'dog bone' awards of $250 gift cards were allegedly offered to agents for making the most referrals to favored partners.
This accusation represents a significant regulatory challenge for Rocket Companies, potentially leading to substantial fines, legal expenses, and reputational damage. The CFPB's action underscores a focus on competition and consumer protection in the housing market.
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