But the new moniker does not resolve outstanding legal issues OCMBC has with a local rival.

GIANT Lending will serve as the company's nationwide wholesale lender with a focus on improving relationships with and empowering mortgage brokers, much of what Jet Advantage did.

"The launch of GIANT Lending represents a bold new chapter in our growth and our vision for the future," OCMBC CEO Rabi Aziz said in a press release. "We're investing in innovation, service, and long-term partnerships."

The announcement comes more than a year after Home Mortgage Alliance Corp. sued OCMBC, both headquartered in Orange County, California, for allegedly poaching a company executive and a significant number of staffers and seeking to capitalize on the name of its wholesale unit, Jet Mortgage. Michael Turturro, the founder of both GIANT Lending and Jet Advantage, joined OCMBC in May after resigning from his post at HMAC a few weeks earlier. 

Just over a month later, OCMBC filed a response and a countersuit on behalf of Turturro and Jet Alliance, and on Tuesday, the company answered HMAC's amended complaint, denying all accusations and asking the court to reject the case.

While the Jet Advantage name was a primary issue in HMAC's litigation, the company still seeks more than $40 million in damages.

"OCMBC's decision to abandon the infringing 'Jet Advantage Mortgage' name is consistent with the early results we achieved in the litigation, including the judge's granting of our request for a preliminary injunction," said Alfred Hanna, founder of HMAC, in a press release. "But this rebrand is not the end of the suit. We are seeking justice, including significant damages for the harm that has been done."

Turturro started working at HMAC in September 2022 and was asked to develop the Jet Mortgage branding. A month later, he created Jet Alliance to "perform services for HMAC for the purpose of increasing loan originations through increased brand recognition," the filing said. Turturro then directed money to be paid to Jet Alliance, said Alan Lindeke, HMAC's attorney.

When Turturro switched companies, his staff reportedly directed brokers to a new website, saying it was the same company with new contact information. HMAC's projected earnings also fell from $75 million to $30 million per month in the wake of Turturro's departure, said Marina Hanna, the corporate counsel for HMAC.

OCMBC vehemently denied the accusations in a statement.

"We have not violated any California laws; this is merely a routine transition of at-will employees to a new company," the company said. "This lawsuit is a groundless attempt by a less reputable entity to extract financial gain. We are committed to robustly defending ourselves and maintaining our stellar reputation in the industry."

GIANT Lending is committed to providing innovative loan programs, competitive pricing and reliable support to mortgage brokers in hopes of closing more deals.

"Our name now matches the scale of our commitment – to deliver the tools, products, and guidance brokers need to grow and succeed," Turturro said in the press release.