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

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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.

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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.

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Decker, who is one of the top 25 mortgage originators in the country and. Mount Olympus Mortgage, which does business as TRU Mortgage, Guaranteed Rate was ordered to pay $25 million in damages over the affair.. Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data theft.

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Guaranteed Rate ordered to pay $25M in alleged loan diversion scheme – "It was quite an elaborate scheme," said Chad Hummel, a Los Angeles-based partner with Sidley Austin who represented mount olympus mortgage. "He transferred all of the data without our consent or any. 30 year home loan interest Rate Today’s Thirty year mortgage rates.

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