November 2016

Freedom Mortgage Faces Threat of Unfair Employee Raiding by Competitors

North America - United States | United States - New Jersey | United States - New York

Freedom Mortgage Corporation faced the threat of unfair employee raiding practices by multiple competitors. Our firm successfully obtained injunctions to stop these actions and continued to pursue claims against competitors on Freedom Mortgage's behalf.

In one federal court case in New Jersey against Freedom Mortgage's competitor AnnieMac Home Mortgage and 22 former Freedom Mortgage employees, our team obtained injunctions prohibiting AnnieMac and the former employees from calling on or doing business with any of Freedom Mortgage's more than 2,000 wholesale mortgage division customers. This injunction also bars these parties from using or disclosing Freedom Mortgage confidential information, resulting in AnnieMac terminating the employment of almost all former Freedom Mortgage employees and electing to exit the wholesale mortgage market almost completely.

In a second case currently ongoing in New York state court, Freedom Mortgage obtained a preliminary injunction against its direct competitor Intercontinental Capital Group and two former employees. The injunction prohibits certain solicitation of current Freedom Mortgage employees by former employees.

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