Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data theft

Mount Olympus was charging the borrowers per diem interest in excess of one day prior to the date that the loan proceeds were disbursed from escrow, in violation of the crmla section 50204, subdivisions (k) and (o), and California Civil Code section 2948.5During 2011, Mount Olympus . guaranteed rate ordered to pay $25M in alleged loan.

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A jury awarded Mount Olympus Mortgage Co. more than $25 million in a lawsuit alleging "corporate espionage" by former employee Benjamin Anderson and his new employer, Guaranteed Rate. Anderson and another former mount olympus originator who now works for Guaranteed Rate, Brian Decker, were accused of stealing loan files, borrower information and other proprietary data from the Irvine, Calif.

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A California jury ordered Guaranteed Rate to pay more than $25 million in damages to a fellow mortgage lender, Mount Olympus Mortgage Company, stemming from accusations that a former employee of.

Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data theft Mark 0 Comments Contents single family housing guaranteed loan News conference: killer forced 2019 meeting. local government Mortgages (arms) reset higher Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data

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RE: Mount Olympus Mortgage Company . Dear (Customer Name): Following up on our prior communication to you regarding the conduct of some of our former employees, we are contacting you now because we have learned of a related data security incident that has occurred in connection with their departure from our company.

Anderson and another former Mount Olympus originator who now works for Guaranteed Rate, Brian Decker, were accused of stealing loan files, borrower information and other proprietary data from the Irvine, Calif.-based lender. According to the lawsuit, "The purpose of the scheme was to divert hundreds of Mount Olympus loan customers to Guaranteed.