Mortgage Servicing Expert in Subprime Mortgages
A mortgage servicing expert was needed for a breach of contract case in subprime mortgages. The plaintiff was a mortgage insurance company who contracted with the defendant, who originates mortgage loans in the subprime market, to insure repayment of the mortgage loans. At issue is whether the defendant breached loan purchase and securitization agreements during the underwriting process by not conducting due diligence when originating the loans.
IMS ExpertServices was asked to find mortgage servicing experts with knowledge of industry standards and practices regarding defaulted subprime mortgage investigations. The ideal mortgage servicing expert would have third party mortgage servicing experience, servicing large portfolios of mortgages that have been bought, securitized and sold.
Mortgage Industry Expert
This expert in mortgage servicing has over 13 years of experience in the mortgage industry, primarily focusing on loss mitigation. She is experienced in mortgage servicing processes and the various default and vendor manager products to advise credit risk managers, investors and mortgage insurance carriers on servicer effectiveness. This expert also advises mortgage servicing agencies on process improvement and technology product selection in default mortgage servicing and on strategies for the successful selection and implementation of technical solutions and outsourced service providers. IMS Reference #5011693
Mortgage Lending Expert
This mortgage servicing expert is one of the premier mortgage industry consultants on consumer credit and mortgage lending compliance issues and provides fair lending and quality control auditing services to lenders. She understands the responsibilities and functions of the entire lending process including warehouse lines, mortgage banks and closing agents. Previously, this expert headed mortgage operations for two commercial banks based in Massachusetts. She has developed several software applications including commercially distributed mortgage programs and proprietary audit systems. She has prior expert witness experience in cases involving fraud slips and other schemes. IMS Reference #1216140
Mortgage Banking Expert
This mortgage servicing expert has more than 40 years of experience in the mortgage banking industry, working on loan origination, mortgage servicing, sales and securitization of loans and portfolios into the billions of dollars. He currently owns his own consulting firm and prior to that held an executive level positions at mortgage companies, including Federal Home Loan Mortgage Corporation (Freddie Mac), where he established servicing standards and requirements. He has prior trial testimony experience on a variety of mortgage banking issues. IMS Reference #5002394