Nevada, Utah mortgage companies in litigation

Tuesday, Dec. 19, 2000 | 10:42 a.m.

Aspen Financial Services Inc. of Las Vegas sued to recover damages from a rival mortgage lending company, alleging it stole Aspen's business by misappropriating Aspen's trade name to mislead consumers into believing the two companies are affiliated.

In a Clark County District Court suit, Aspen sued Republic Mortgage of Salt Lake City, alleging the single family mortgage lending company, since 1997, misled several consumers by saying that Aspen was a subsidiary of Republic Mortgage and that it was unnecessary to contact Aspen directly to handle their home mortgage needs.

Aspen said it seeks an order for a full accounting of Republic Mortgage's financial records from March 1998, when both companies became direct competitors through the present.

The suit said Aspen discovered Republic Mortgage, which has branch offices in Idaho, Nevada and Utah, has a website listing Aspen as one of Republic Mortgage's branch offices in Nevada.

The defendants could not be reached for comment on the allegations.

archive