loanDepot has asked a federal judge to dismiss a lawsuit accusing the lender of violating federal loan originator compensation rules, arguing that mortgage brokerage West Capital Lending (WCL) lacks standing to sue and is improperly trying to use consumer protection laws to pursue a competitive business dispute.

In a reply brief filed Thursday in the U.S. District Court for the Central District of California, loanDepot argued that WCL has no legal basis to bring the lawsuit because the Truth in Lending Act (TILA)’s loan officer compensation rule was designed to protect borrowers, not competing lenders, and does not details ⇒

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