April 23, 2018
Quicken Loans (QL), a leading mortgage lending institution in the USA, is Halachically under majority Jewish ownership. Upon thorough investigation, prominent leading Halachic authorities have issued a P’sak [click here for link] that any Jew who obtains a loan with interest from QL or any of its subsidiaries [i.e. Rocket Mortgage] is in danger of transgressing the prohibition of Ribbis D’oraisa.
It has come to our attention that upon inquiry from prospective customers, QL has been providing information stating that there is no need for a Heter Iska when obtaining a mortgage from them. We therefore feel compelled to counter this misinformation by alerting the public to the P’sak of Gedolei HaRabbonim which states unequivocally that it is forbidden Al-Pi Torah for any Jew to take a mortgage or any other form of loan from Quicken Loans or its subsidiaries – or any other Jewish-owned lending institution – without a valid Heter Iska.
THE CONFERENCE OF SYNAGOGUE RABBONIM OF AGUDATH ISRAEL