NEXA Lending CEO Mike Kortas is dismissing claims that the company misappropriated trade secrets and confidential customer data after being sued by rival lender loanDepot in federal court.

The complaint alleges that NEXA knowingly assisted two former loanDepot employees in taking proprietary information before leaving the company and using it to solicit borrowers. The lawsuit comes as loanDepot is resuming operations in the wholesale channel.

In a conversation with HousingWire, Kortas said that the lawsuit, filed April 20 in the U.S. District Court for the Northern District of Mississippi, is “basically stupid.”

“It’s a means for their attorney to chump details ⇒

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