Category: Mortgage Expert Witness
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Mortgage Expert Allowed to Testify Despite Not Updating the Earnings Model
The lawsuit concerns whether “Freddie Mac concealed its overextension in the nontraditional mortgage market—generally composed of instruments known as subprime mortgages or low credit and high risk instruments—and its materially deficient underwriting, risk management and fraud detection practices through misstatements and omissions to investors.” Plaintiff Ohio Public Employees Retirement System (“OPERS”) retained Howard Shapiro as…
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Court Accepts the Mortgage Expert’s Opinion on the OPERS’ Primary Fraud Theory
Defendant Federal Home Loan Mortgage Corporation (“Freddie Mac”) offered Dr. Chudozie Okongwu, a mortgage market expert, to discuss the mortgage and subprime markets and the credit crisis between August 1, 2006, and November 20, 2007 (the “Relevant Period”). The lawsuit concerns whether “Freddie Mac concealed its overextension in the nontraditional mortgage market—generally composed of instruments…
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Mortgage Expert Witness’ Statements regarding TILA Rescission Held to Amount to a Legal Conclusion
This case involved claims under the federal Truth in Lending Act (“TILA”) regarding alleged errors in a loan arranged between Plaintiff and Defendant, as well as claims of slander of title, quiet title, and wrongful foreclosure. Beginning in 2006, Plaintiff owned residential property in Sandy, Utah (the “Property”). Defendant Veritas Funding, LLC is a mortgage…
