NEXA Mortgage’s CEO, Mike Kortas, is accusing his former partner, Mat Grella, of a number of infractions, including compromising the purchase of a $24 million hangar office property, in a recently filed suit in Maricopa County, Arizona. This development comes after a falling out between the NEXA co-owners, in which Kortas was accused of misappropriating
United Wholesale Mortgage is suing Ramon Walker, owner of brokerage Client Direct Mortgage and creator of a Facebook group dubbed “Rocket Pro TPO vs. UWM,” for trademark infringement and not paying an outstanding early payout balance of $124,011.37. In December, UWM sent a cease-and-desist, warning Walker that it was closely monitoring the Facebook group he
Freedom Mortgage says the Home Mortgage Disclosure Act’s accuracy requirement is “vague”, an argument it raised in a spat with a regulator over loan data submissions. The lender and servicer responded Monday to the Consumer Financial Protection Bureau’s federal lawsuit accusing Freedom of haphazard HMDA data submissions for 2020. The agency claims Freedom, in submitting
Academy Mortgage is accused of slow-walking its effort to inform customers of a data breach that took place in mid-2023, which has made them vulnerable to identity theft. A class action suit filed in the state of Utah by a former borrower alleges Academy lost control of its computer network and of highly sensitive personal
A class action suit filed in California accuses Loandepot of failing to implement adequate measures to protect its customer data. In early January, the lender and servicer reported some of its systems were brought down by a cyber attack, during which malicious actors gained access to the personal identifiable information of 16.6 million current and
A federal judge dismissed racketeering claims against CrossCountry Mortgage in a poaching lawsuit, but eight other counts from a competitor remain. California-based American Mortgage Network sued its larger rival in January, accusing it of using a “transition desk” of dedicated staff to poach originators and divert loans. The complaint accuses former branch manager Spencer Thomas