Caliber has filed a lawsuit against CrossCountry after 80 employees departed for a competitor.

The departed staff, according to Caliber, produced more than $2.3 billion in mortgages per year.

Last January, Caliber Home Loans' CEO resigned.

According to reports, CrossCountry offered a $1 million bonus with an additional $500,000.

CrossCountry Mortgage, situated in Ohio, is accused of unfair competition and misappropriation of trade secrets by the Dallas-based lender.

A lawsuit was filed in May in the United States District Court for the Western District of Washington in Seattle, alleging the allegations.

The manager Everts allegedly signed an offer letter from CrossCountry but kept it hidden for three weeks, according to Caliber.

As per Advance Market Analytics, the mortgage broker market is booming worldwide amid unfair practices.

New Residential Investment has reduced hundreds of job positions in its mortgage division less than a year after acquiring Caliber Home Loans.

Caliber Home Loans, the nationwide mortgage lender and servicer, has been named to the HousingWire Tech100 list for 2022.

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