Legal recourse

I have a non-compete with my former Mortgage lending company. In the non-compete, there was no specification on geographic boundary.

Recently, when my old company found that i was with a new mortgage lending company, they threatened law-suit to enforce the non-compete.

My current employer wrote to them about the non-compete as to what they would like to do about it because I need my broker license to be transfered to the new company. My old employer gave my new employer the green light to transfer my license.

Last week, when I was about to close a loan, they send me a letter from the attorney about non-compete and did not allow my client to close the loan with us.

I ended up surrendering the loan to them after doing all the work. Do I have any legal recourse to get the fees back from my previous employer? The borrower is a referral through a mutual friend of us.

How can I also stop them from threatening me and my new employer about non-compete agreement that I have signed with my old employer. Thanks

1 answer  |  asked Jul 23, 2003 08:44 AM [EST]  |  applies to Texas

Answers (1)

Trey Henderson
non-compete

Your question is much too complicated to answer without reviewing the agreement and talking with you. The basic answer is that you possibly have a case against your former employer for tortious interference with your business. I suggest you seek a local attorney's advice on the matter.

posted by Trey Henderson  |  Jul 23, 2003 09:21 AM [EST]

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