OCMBC, Inc. Files Response to Baseless Lawsuit and Files Countersuit on Behalf of Defamed Employee

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Jul 30, 2024, 07:58 ET

IRVINE, Calif., July 30, 2024 /PRNewswire/ -- OCMBC, Inc. has filed its answer in court to the baseless lawsuit filed by Home Mortgage Alliance Corp (HMAC), which is purportedly run by Alfred Hanna, the company's alleged founder. OCMBC vehemently denies all claims against it and its stellar reputation. In addition to addressing the initial lawsuit, OCMBC has also filed a countersuit on behalf of employee Michael Turturro and his personal corporation, Jet Alliance.

Alfred Hannah was barred by the FHFA in 2017 based on prior misconduct involving his company, Affiliated Funding Corporation, dba In-House Lender. He had a duty to disclose those prior bad acts to Michael Turturro before recruiting him and his team to join HMAC. The countersuit alleges that regulated entities such as Fannie Mae, Freddie Mac, HUD, VA, and warehouse banks are barred from doing mortgage business with Hanna. Additionally, Hanna's actions, including denying employees their due pay and refusing vendors their contractual payments, which left Michael Turturro and his team no choice but to seek other employment. Despite this, Hannah has continued to defame Mr. Turturro throughout the industry, both publicly and privately, including with Turturro's own vast book of personal, past business relationships. Employees have every right to choose their place of employment, without fear of reprisal or retaliation. Hanna and HMAC are in continuous violation of various laws.

OCMBC remains committed to defending its employees who exercise their rights and are being unjustly persecuted by disreputable entities.

OCMBC, Inc. offers comprehensive solutions for wholesale lending sales groups aiming to join a larger, well-managed company equipped with extensive corporate resources, enhanced technology, structured broker training, and top-tier products and pricing. OCMBC currently collaborates with three such groups and has no need to seek or utilize information from other companies. As reported by Scotsman Guide, OCMBC is a top 5 wholesale lender, active in all loan products, and the nation's #2 NonQM originator. For more information, please visit www.OCMBC.com.

Links: FHFA Document on Affiliated Funding Corporation Suspension

OCMBC, Inc. (NMLS #2125) is a leading mortgage lender and servicer, proudly recognized as a Fannie Mae and Freddie Mac Seller/Servicer. Approved by the Department of Housing and Urban Development, the Department of Veterans Affairs, and USDA, OCMBC boasts one of the nation's largest NonQM origination channels. Licensed and approved in 47 states and the District of Columbia, OCMBC provides a wide range of mortgage products and services to meet the diverse needs of its clients. For more information, visit www.OCMBC.com.

SOURCE OCMBC, Inc.