"A fair and balanced playing field is the cornerstone of the free enterprise system, a loanDepot spokesperson told HousingWire in a written statement. As our complaint alleges in detail, West Capital Lending has manipulated fair lending, privacy and tax laws and regulations to create an unfair competitive advantage. We plan to pursue every legal remedy available to demand accountability and fairness."
"That person indicated that WCL had affiliated with lead generation company What's a Mortgage and obtained customer data taken from loanDepot by two former employees who had joined WCL. Upon loanDepot's request, WCL agreed to deliver the information on a flash drive in September 2025. The lender said it learned for the first time that the drive included 10 different lists containing not only customer names and contact information but also FICO scores, loan numbers and loan-level details."
loanDepot filed a lawsuit in California alleging West Capital Lending, Hines and Iskander used unlawful means to recruit sales employees, steal confidential information, and convert loanDepot’s business for WCM’s benefit. A WCL employee said WCL affiliated with lead generator What's a Mortgage and obtained customer data taken by two former employees. WCL agreed to deliver the data on a flash drive that contained ten lists with customer names, contact information, FICO scores, loan numbers and loan-level details. loanDepot alleges WCL refused to return or remediate the data, induced loan officers to take active leads and misclassified about 600 loan officers as independent contractors.
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