Weekly Real Estate News
Summary
CrossCountry Mortgage reportedly sent October 29 cease-and-desist letters to two former loan officers demanding a combined $17,753 over alleged nonsolicitation violations. WRE News has not independently obtained the letters or employment agreements; the claims have not been adjudicated and no related lawsuit has been confirmed.
CrossCountry Mortgage is seeking a combined $17,753 from two former loan officers, alleging they refinanced mortgages for borrowers they previously served at the company in violation of employment agreements, according to letters reviewed by HousingWire.
The letters, dated October 29, 2026, reportedly were sent to Chad Barris and Ryan Devore, both of whom now work for Rate. They demand payment, call for the cessation of certain activity and warn that litigation may follow. The claims are allegations made by CrossCountry, not findings by a court.
How the Payment Demands Were Calculated
According to HousingWire’s review of the documents, CrossCountry is seeking $14,288 from Barris in connection with four refinance transactions totaling approximately $1.9 million, and $3,465 from Devore in connection with a $462,000 refinance. The demands are calculated at 75 basis points of the loans identified in the letters.
The company reportedly argues that the former employees’ agreements include two-year nonsolicitation provisions and restrictions concerning confidential customer information. Whether those provisions apply to the transactions, and whether they are enforceable in the circumstances, has not been determined in court.
Litigation Warning and Record Preservation
The letters reportedly give the recipients 10 business days to respond and instruct them to preserve records that could be relevant to potential litigation. HousingWire reported that the preservation instructions include loan files, customer communications, personal-device records and AI chat histories.
HousingWire said CrossCountry and the two former employees had not responded to its requests for comment before publication. WRE News has not independently reviewed the underlying employment contracts or cease-and-desist letters, and no lawsuit arising from these demands has been independently confirmed.
Implications for Loan Officer Recruiting
The dispute illustrates the potential legal complexity of loan officer moves between mortgage companies. Borrower relationships, confidential information and the terms of employment agreements can become contested when originators change employers. The letters do not establish that either recipient solicited customers unlawfully, nor do they establish a broader companywide enforcement effort.
Source: HousingWire’s October 30, 2026 reporting, based on letters it reviewed. WRE News will update this report if primary documents or responses from the parties become available.
