Justice Department Reaches $335 Million Settlement to Resolve Allegations of Lending Discrimination by Countrywide Financial Corporation OPA

Since our founding, our core philosophy has been driven by John’s background in sales, leadership, and process development, which cultivated the elite culture that defines JFQ. Under his leadership, JFQ Lending has consistently earned top rankings in the Scotsman Guide, including Top Overall Volume and Top Retail Volume for 2021. In just a few years, JFQ Lending has grown to include three locations in Arizona, California, and Texas and holds licenses in nearly all 50 U.S. states.

The review also points out that the company abuses its staff both mentally and verbally. Like the previous complaint, this one also points out that the leadership of the firm sleeps with its employees. This is why anonymous review sites are getting so popular. But in any case, JFQ Lending has a ton of positive ratings on LendingTree. Just as negative reviews tell you a lot about a company, positive reviews do the same thing. This person was receiving mailings from JFQ Lending every week, so they chose to call them.

The bottom line is that your representative lied and did not want to send anything in writing because of this. I am still refinancing, but will do so with an honest company. JFQ Lending has numerous customer complaints, their employees complain of sexual harassment and discrimination, and they have suspicious positive reviews.

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And five times, it was something they had already submitted before. Glassdoor has 225 JFQ Lending reviews submitted anonymously by JFQ Lending employees. Read employee reviews and ratings on Glassdoor to decide if JFQ Lending is right for you. 44% of Loan Officer employees at JFQ Lending would recommend their employer to a friend. This rating has decreased by -20% in the past 12 months. Loan Officer professionals have also rated JFQ Lending with a 2.8 rating for work-life-balance, 3.2 rating for diversity and inclusion, 3.2 rating for culture and values and 3.2 rating for career opportunities.

By steering borrowers into subprime loans from 2004 to 2007, the complaint alleges, Countrywide harmed those qualified African-American and Hispanic borrowers. The United States’ complaint alleges that African-American and Hispanic borrowers paid more than non-Hispanic white borrowers, not based on borrower risk, but because of their race or national origin. Countrywide’s business practice allowed its loan officers and mortgage brokers to vary a loan’s dovly coupon code interest rate and other fees from the price it set based on the borrower’s objective credit-related factors . This subjective and unguided pricing discretion resulted in African American and Hispanic borrowers paying more. The complaint further alleges that Countrywide was aware the fees and interest rates it was charging discriminated against African-American and Hispanic borrowers, but failed to impose meaningful limits or guidelines to stop it.

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