![]() ![]() ![]() Upon launch, this advanced software from Black Knight will include highly personalized information about loans, homes and neighborhoods. We are looking forward to Cyclops benefiting even more consumers with the industry-leading client service the tool can facilitate.” Our success comes from groundbreaking technology and the streamlined processes it can provide. “Our focus is always on our clients and how we can make their experience easier and more transparent. “After decades of disruption, this acquisition is further proof of our technology team’s power and innovation,” said Jay Farner, CEO of Quicken Loans. This software suite will serve as the foundation for a highly advanced customer service solution that Black Knight will be offering to clients of its industry-leading MSP servicing system. The Cyclops software provides a number of tools Quicken Loans uses to meet the needs of today’s mortgage consumers. Additionally, Black Knight purchased the source code for Quicken Loans’ “Cyclops” mortgage servicing customer relationship management (CRM) software. (NYSE:BKI) and Detroit-based Quicken Loans, today announced the companies have broadened their relationship as Quicken Loans extended its contract for Black Knight’s MSP servicing system and is adding multiple Black Knight solutions. The settlement was neither an admission of liability by Quicken nor a concession by the United States that its claims were not well founded.JACKSONVILLE, Fla. ![]() The settlement was reached through mediation. Between 20, Quicken allegedly submitted claims for hundreds of improperly underwritten FHA-insured loans. The United States contends that Quicken knowingly approved loans that violated FHA rules while falsely certifying compliance with those rules. On June 3, 2019, Quicken entered into a settlement agreement with the Federal Government to pay $32.5 million. Quicken has its principal place of business in Detroit, MI. The investigation was of Quicken’s origination, underwriting, endorsement, and related certifications of Federal Housing Administration (FHA)-insured mortgage loans between September 1, 2007, and December 31, 2011. Department of Justice (DOJ), Washington, DC, in the civil investigation of Quicken Loans, Inc. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. ![]()
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