CrossCountry Mortgage, accused of raiding two competitors, is suing one of those accusers, alleging the lender remains in possession of its confidential information.
Ohio-based CrossCountry last week sued Guild Mortgage in Nevada U.S. District Court for civil conspiracy, among other counts, for allegedly persuading an employee to divert loans and information to Guild before she departed to the firm. It’s the
CrossCountry, in the new lawsuit, accuses its former Las Vegas branch manager Mirajoy Casimiro of transferring the lender’s confidential information in late 2020 to her personal email account before departing to Guild in January 2021, and continuing to use the confidential information to originate loans.
“On information and belief, Guild has perfected its scheme and will continue to harm CCM unless stopped,” wrote Marc Cwik, an attorney with Lewis Brisbois Bisgaard & Smith, LLP, on behalf of CrossCountry.
The lawsuit didn’t specify the amount of damages sought nor the amount of information involved. Representatives for Guild and an attorney for CrossCountry didn’t respond to requests for comment Tuesday.
Guild in its October lawsuit accuses CrossCountry of stalling the discovery process and the two sides will appear before a federal judge in a hearing next Wednesday. A trial in that lawsuit is scheduled for next February.
Dallas-based Caliber Home Loans also is suing CrossCountry in a Washington federal court for allegedly raiding more than 80 employees responsible for more than $2.3 billion in annual mortgage originations. No court dates have yet been scheduled.
The poaching and loan diversions alleged in the CrossCountry lawsuits occurred during the market’s
San Jose-based InstaMortgage also is suing a competitor and former employer for allegedly diverting more than 30 loans from the company. InstaMortgage in a lawsuit last week in the Northern District of California U.S. District Court filed 12 counts against former loan originator Michelle Lozoya and her new employer AHL Funding. InstaMortgage claims their subterfuge cost it at least $357,000 in gross revenue, lost profits and damages.
Lozoya, during her just over one-year employment period with InstaMortgage, diverted borrower information to AHL Funding, which caused confusion among consumers, the former company alleged. InstaMortgage said it fired Lozoya in February after a consumer complained to the Consumer Financial Protection Bureau about Lozoya’s diversion. InstaMortgage said it informed AHL about Lozoya’s wrongdoing but the firm never responded.
InstaMortgage is seeking the return of its information along with other profits Lozoya and AHL allegedly gained through the misappropriation. A representative for instaMortgage declined to comment on pending litigation, while AHL didn’t respond to a request for comment Tuesday.
