Did you use Veterans United Home Loans to finance the purchase of your home? Your rights as a homebuyer may have been violated. Fill out the form for more information »
WHAT’S THE ISSUE?
Hagens Berman has filed a proposed class-action lawsuit on behalf of veteran homebuyers who financed the purchase of their home through Veterans United Home Loans — a company not owned nor operated by veterans nor affiliated with any government body — for potential violations of veteran homebuyers’ rights, which may have led to higher homebuying costs. Attorneys believe Veterans United Home Loans may have violated the Real Estate Settlement Procedures (RESPA) Act through “steering” or deliberately directing business, even when it wasn’t in the homebuyer’s best interest. Veteran homebuyers may have overpaid in related costs due to this alleged scheme. The firm’s lawsuit also addresses deceptive and misleading aspects of Veterans United’s website, preying on America’s military servicemembers.
AM I AFFECTED BY THE LAWSUIT?
Affected homebuyers purchased a home since Jan. 1, 2020, and financed through Veterans United Home Loans. Homebuyers may have been harmed by practices that violate consumer protection laws. If you believe you have been affected, contact our team to learn more.
ABOUT VETERANS UNITED’S ALLEGED FRAUD
Hagens Berman’s lawsuit against Veterans United Home Loans stems from accusations that the company is “steering” home-buying clients to certain home loans that may not be in their best interest. Steering in real estate is an illegal influence on a client's decision by guiding them away from cheaper options, leading borrowers to pay more. Attorneys believe Veterans United Home Loans allegedly encourages home buyers to enroll in its offered loans, even when those loans are more costly or have higher interest rates. Agents who received referrals from Veterans United were also required to pay up to 35-40% of their commissions back to the company, without disclosing this kickback to consumers.
ALLEGEDLY DECEPTIVE & MISLEADING WEBSITE
Attorneys are also pursuing claims against Veterans United Home Loans regarding allegedly deceptive and misleading aspects of its website. According to the firm’s lawsuit, its website is designed to look like it is a part of the government, despite its lack of affiliation with any military or governmental entity. Borrowers may choose to finance their home purchase with Veterans United, assuming they are getting a better rate or a better tier of service due to the company’s apparent relationship with the government, when in truth Veterans United Home Loans is a private company, unaffiliated with the military in any way.
Hundreds of supporters have backed an online petition for Veterans United to end the “misleading use” of “veterans” in their name:
“To my dismay, I discovered that Veterans United is not actually owned or operated by veterans. This revelation left me feeling deceived and betrayed as someone who holds immense respect for our brave men and women who have served in our armed forces.”
Veterans United Home Loans is reportedly the largest mortgage company for veterans in the U.S. with $20 billion in loans annually.
YOUR RIGHTS AS A HOMEBUYER
Hagens Berman believes Veterans United may have violated veteran homebuyers’ rights under federal law, including under RESPA by preventing veterans from doing business with a competing mortgage provider through a referral. Our legal team believes Veterans United has violated RESPA to the detriment of our nation’s military servicemembers.
TOP LAW FIRM IN THE REAL ESTATE INDUSTRY
Hagens Berman is widely recognized for its nationwide consumer-protection work and has secured total settlements valued at more than $345 billion for classes and clients since its inception in 1993, including against some of the world’s most powerful corporations. The firm recently reached settlements exceeding $1 billion in a class action filed against 29 real estate broker franchises accused of illegally inflating home sale commissions. The firm is also actively pursuing claims against Zillow and Rocket. If you have a claim against Veterans United, it will be handled by attorneys experienced in consumer protection law and in the real estate industry.
Our firm is also skilled in its representation of veterans and military servicemembers. Our attorneys have represented vets in personal injury cases and in class cases against Bank of America ($42 million settlement) and USAA Bank ($64.2 million settlement). Hagens Berman is also currently pursuing wage-fixing claims for aerospace employees, commonly former military servicemembers.
NO COST TO YOU
In no case will any class member ever be asked to pay any out-of-pocket sum. In the event Hagens Berman or any other firm obtains a settlement that provides benefits to class members, the court will decide a reasonable fee to be awarded to the class's legal team.
