West Capital Lending (WCL) has sued loanDepot, accusing the California-based mortgage lender of engaging in a long-running compensation scheme that violates the Truth in Lending Act (TILA).

The lawsuit, filed Friday in the U.S. District Court for the Central District of California, marks the latest escalation in a bitter legal feud between the two companies.

In October, loanDepot sued WCL for allegedly poaching hundreds of employees and misappropriating trade secrets. The suit also accused WCL of misclassifying about 600 loan officers as independent contractors to pay them on a 1099 basis, thereby details ⇒

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