NEXA Mortgage sued over dealer's alleged knowledge theft

In a lawsuit filed final week, a mortgage brokerage claimed that among its former mortgage officers stole a database containing consumer names and data and introduced it with him to some completely new job at NEXA Mortgage.

Sensible Mortgage, which operates in Illinois, Indiana, Colorado and Florida, filed swimsuit towards former senior mortgage processor Brian Noe and NEXA Mortgage earlier this year in federal courtroom in Illinois. The swimsuit mirrors an earlier, parallel authorized motion filed in Illinois state courtroom.

Within the federal lawsuit, Sensible Mortgage alleges that Noe downloaded Dropbox on his firm laptop without having authorization on Feb. 1, 2021, and requested and was offered Sensible Mortgage’s closed mortgage log for recordsdata he originated at Sensible Mortgage between Oct. 2021 and February 2021.

Noe resigned from Sensible Mortgage on December 20, 2021 and subsequently accessed and downloaded data from Sensible Mortgage’s consumer database from his company-issued laptop, the lawsuit claims. It comprises over 3,800 consumer names and figuring out data, historic transaction data, consumer preferences and personalised notes, in line with Sensible Mortgage.

Sensible Mortgage, based in 1997 by Richard Birk, claims that Noe has solicited and attempted to refinance a number of owners from Sensible Mortgage’s consumer database.

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The swimsuit additional alleges that Nexa “acquired and used data provided by Defendant Brian Noe to solicit residential mortgage prospects regardless of understanding or motive to know that the commerce secret was acquired by improper means because of it inspired Defendant Brian Noe to hold his ‘e-book of enterprise’ to Nexa Mortgage.”

Mike Kortas, the CEO of Chandler, Arizona-based NEXA Mortgage, denied any wrongdoing with respect to Noe or even the corporate.

Kortas mentioned the organization is assured that Sensible Mortgage’s claims will probably be discovered to lack advantage. He mentioned that NEXA will likely be submitting a 3rd movement to dismiss the state lawsuit, which incorporates equivalent allegations.

“Hopefully the courtroom will drive Sensible to lastly defend its baseless allegation somewhat than allow one other modification,” Kortas advised HousingWire . “The government courtroom case is certainly not greater than another end-around Sensible's motions to dismiss their state case, and that we anticipate the federal case will truthful no higher. NEXA is devoted to defending each actions and it is assured, as soon as the litigation course of performs out, that it's likely to be discovered harmless of any wrongdoing.”

NEXA, based in 2021 by Kortas, is probably the many fastest-growing mortgage brokerages inside the nation. Around the finish of 2021, the brokerage had 42 mortgage officers. By August 2021, that quantity had skyrocketed to 272. The corporate now says it has simply over 800 mortgage officers employed in almost each state within the nation.

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