A former executive who was sued by Guaranteed Rate Mortgage has counter-sued the company alleging senior executives manipulated gain-on-sale revenues to avoid paying him the full amount owed to him.
A lawsuit was filed last month by the Chicago-based company against Joseph Caltabiano, its former senior vice president of mortgage lending. He allegedly conspired to recruit a group of employees for a rival.
Caltabiano left the home lender last month to join BeMortgage, a division of Bridgeview Bank Group. Guaranteed Rate alleges he coordinated with senior Bridgeview executives to recruit its Chicago-area team.
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From:: Financing