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

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.

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.

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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.

There’s a follow-up to an insider theft case previously noted on this site.. Y. Peter Kang reports: A California state jury on Tuesday awarded $25.1 million in damages to Mount Olympus Mortgage Co., finding rival mortgage lender Guaranteed Rate Inc. liable for illegally transferring hundreds of private consumer loan files from MOMCo’s computer systems, according to plaintiff’s attorneys.

Compare mortgage rates from multiple lenders in one place. It’s fast, free, and anonymous. Best Mortgage Rate Texas Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data theft – A California jury ordered Guaranteed Rate to pay more than $25 million in damages to a fellow mortgage lender, mount olympus mortgage. "guaranteed rate will continue to focus on providing the best.

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Mount Olympus Mortgage Company v. Benjamin Anderson. The Decadence of the People’s Car by Harold James .. Guaranteed Rate Inc., one of the nation’s largest mortgage banks.. which covers the unlawful theft of computer data, as well as conversion and misappropriation of the confidential.

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