5/2/2023 0 Comments Calibre home loans![]() laid off nearly 400 employees earlier this year, according to HousingWire.ĬrossCountry last month also reportedly entered an agreement to acquire Alamo, California-based retail lender LendUS, according to National Mortgage Professional. Caliber parent New Residential Investment Corp. The raiding allegations come amid a period of upheaval for the industry in which lenders small and large are laying off employees in response to declining origination volumes. Guild in a court filing last week accused CrossCountry of deliberately delaying the discovery process in the case slated for a jury trial early next year. The lawsuit is similar to an October complaint filed against CrossCountry, in which Guild Mortgage claims the lender misappropriated nearly its entire Kirkland, Washington branch with over two dozen employees. Caliber said it believes more misappropriated confidential information is in CrossCountry’s possession. ![]() The former Seattle branch manager and at least eight other departing employees also forwarded confidential information regarding a combined thousands of loans to their personal emails, according to the suit.Ī borrower who previously worked with one of the departed Caliber employees alleged CrossCountry pulled her credit unauthorized and a member of the employee’s team reached out to her. In an email exchange with a CrossCountry executive, attached to the lawsuit as an exhibit, the branch manager detailed the likelihood of six specific subordinates departing.Ĭaliber said others used their work email to solicit colleagues in violation of their restrictive covenant agreements. A former Caliber Seattle branch manager was allegedly offered a combined $1.5 million signing bonus by CrossCountry. The company originated upon the merger of Caliber Funding and Vericrest Financial. The lawsuit claims CrossCountry offered Caliber employees financial inducements to uproot colleagues. is a large home mortgage originator and servicer. New Residential Investment Corp., which acquired Caliber last summer, wasn’t mentioned in the lawsuit. ![]() According to the lawsuit, CrossCountry denied wrongdoing in response to Caliber earlier this year. ![]() Neither an attorney and spokesperson for Caliber nor a representative for CrossCountry responded to requests for comment Monday. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |