General World News

Wholesale lender OCMBC calls lawsuit from HMAC ‘baseless’

Wholesale lender OCMBC Inc., which was recently sued by direct lender Home Mortgage Alliance Corp. (HMAC) over the alleged poaching of both key personnel and a wholesale lending brand, issued a statement this week that called the allegations “baseless” and added that any employment changes have been made “independently and lawfully.”

The case was first reported by National Mortgage News. Filed by HMAC in California’s Orange County Superior Court on May 23, it alleges that OCMBC poached a company executive and several key staffers while also aiming to capitalize on a brand details ⇒

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