Asset Based Lending Expert in Underwriting Guidelines

Case Description:

An asset based lending expert with knowledge of underwriting guidelines was needed for a fraud and negligent misrepresentation action. The plaintiff was a provider of short-term financing options for businesses that have traditionally fallen outside the standard underwriting parameters. The defendant was a leading financial services and investment firm that offered brokerage, investment banking, and asset management to clients. The defendant allegedly persuaded the plaintiff to extend loans to its client by misrepresenting the value of the client's personal brokerage account with the defendant. It was discovered that the account neither belonged to the client nor was worth more than $1,000.

IMS ExpertServices was asked to locate asset based lending experts who have significant industry experience in lending for a non-traditional lender, specifically, someone who had expertise in underwriting guidelines of asset based lenders. The experts would be asked to review the documentation for the loan and opine on whether the plaintiff was negligent in their due diligence of accepted and prudent industry standards in making the asset based loan.

Experts Presented:

  • Commercial Lending Expert

    This commercial lending expert has over 30 years of secured lending experience in asset based lending, commercial banking, and factoring. He is the founder, President and Chief Executive Officer (CEO) of a factoring intermediary in the transportation industry. He held progressively responsible positions in commercial lending, rising from member of the management committee to Chief Credit Officer, Senior Vice President, President and CEO for several banks and financial institutions. He currently serves as a director of an asset based lending trade association and has moderated at conventions on the topics of underwriting guidelines and fraud. He has expert witness experience giving testimony in deposition and at trial. IMS Reference # 5014636

  • Commercial Loan Expert

    This asset based lending expert is a licensed commercial finance lender with over 25 years of experience in bank operations. He is the principal and founder of a commercial finance company specializing in litigation support and consulting on the improvement of loan portfolios, problem loans, financing, and loan placement. He began his career in bank operations as an Assistant Vice President and has served as President and CEO of several banks and financial entities. Representing over 250 institutions as President of a banker's association, he received the highest regulatory rating for loan portfolio quality. He has served as an expert witness and has offered depositions and trial testimony. IMS Reference # 5010483

  • Asset Based Lending Expert

    This asset based lending expert has over 30 years of experience in asset based lending and problem loans. He is counsel in business law, handling factoring, asset based lending, loan documentation, letters of credit, and bankruptcy. As Vice President and Senior Counsel, he handled problem loans for one of the largest banks in the United States. He teaches annual workshops and writes a feature column on asset based lending. His expert witness experience includes testifying to the standards of due diligence which a lender should have applied to ascertain the authority to execute loan and collateral documents. IMS Reference # 5013815

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