Loans

Go Mortgage settles vandalism and wage claims with former director



Go Mortgage is settling federal lawsuit Targeting its former capital markets director She was accused of causing millions of dollars in losses through corporate espionage.

lender Katie Chikonde will pay an undisclosed amount to settle a separate wage claim she filed against the company in state court, according to her attorney. The former employee is accused of defaming Go Mortgage to counterparties and botching the hedging of its loan pipeline. .

Colorado Springs-based Gary Kramer Law wrote on Chikonde’s behalf: “Go Mortgage has nothing but respect for Katie Chikonde’s hard work, valuable contributions to the company and our industry, as well as her integrity, professionalism and Character.” in a statement Wednesday.

Lawyers for the lender and the company did not respond to requests for comment Wednesday afternoon. Cramer said Chikonde voluntarily resigned from Go Mortgage in July 2022 and had been listed as vice president and director of capital markets at Dart Bank in Michigan since July 2019. August 2022.

According to the indictment filed last July, Chikonde caused Fannie Mae to temporarily suspend Go Mortgage’s seller services number, preventing it from issuing loans. She also allegedly shared false information about Go Mortgage with its investors and warehouse lenders.

The lawsuit in federal court in Ohio also accuses Chikonde of entering false information into Optimal Blue that was discovered four months later.

Her alleged sabotage stemmed from dissatisfaction with unpaid bonuses for 2021, according to case filings. In February 2023, Chikonde filed a wage claim lawsuit against Go Mortgage in Arapahoe County District Court, southeast of Denver.

The amount at issue in both cases has not been made public; a federal case listing shows damages sought in excess of $75,000. The parties entered mediation in January and first revealed their global settlement in a status update on February 29.

Go Mortgage originated more than $1.1 billion in mortgages last year through December, according to S&P Global. lender The agency had 98 guaranteed mortgage loan officers and 26 active branches as of Dec. 31, according to Consumers National Multistate Licensing System records.





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