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Valuable Information Security Lessons from Olympus Mortgage vs. Guaranteed Rate

Earlier this year, a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for its claims against Guaranteed Rate, which alleged Guaranteed ' along with other former employees of MOMC ' illegally transferred hundreds of loan files from MOMC's internal systems to Guaranteed. The award is notable for showcasing how important it is for a company to maintain control of its data security, both from external threats and employees.

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Earlier this year, a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for its claims against Guaranteed Rate (Guaranteed), which alleged Guaranteed ‘ along with other former employees of MOMC ‘ illegally transferred hundreds of loan files from MOMC’s internal systems to Guaranteed. While the award rightfully highlights some questionable hiring and customer portability issues, it’s more notable for showcasing how important it is for a company to maintain control of its data security, both from external threats and employees.

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