Large Bank Allegedly Engages in Fraudulent Lending Practices


Lending Expert WitnessThis case takes place in Kansas and involves the plaintiff’s claims that a large banking institution allegedly partook in fraudulent practices in connection with their home mortgage loan services. The plaintiffs allege a breach of fiduciary duty by way of maximizing fees on borrower’s accounts when they are behind on their payments. The plaintiff also claims racketeering activity by the defendant with regards to charging unnecessary fees for default related services that were assessed on the plaintiff’s mortgage account. The plaintiff accuses the defendants loan servicing practices, in particular their practice of charging borrowers for certain default-related fees including Broker Price Opinions and Property Inspections, did not conform with the terms of the borrower’s mortgage agreements and the loan servicing guidelines issued by that institution.

Question(s) For Expert Witness

  • 1. Can you determine if the defendant's loan servicing practices conforms to the terms of the plaintiff's mortgage agreements? If so, please describe your familiarity with the subject.
  • 2. Would you be able to determine if the defendant's loan servicing practices conform to the loan servicing guidelines in question?

Expert Witness Response E-009231

I am glad to review this case on behalf of the plaintiff and would be able to determine if the defendant’s loan servicing practices conforms to the plaintiff’s mortgage agreements. This is a matter of taking a copy of the defendant’s loan servicing practices as provided in discovery with the contents of plaintiff’s mortgage to identify potential discrepancies, if any, between the written agreement and the defendant’s practices. That is something that should be fairly uncomplicated to perform. Of course, the comparison depends significantly on the quality and thoroughness of information provided by the defendant. I am also able to determine if the defendant’s loan servicing practices conform to the loan servicing guidelines in question. I may need time to further research and obtain the guidelines for this comparison, but given my 30+ years of financial regulation experience, I have performed multiple compliance reviews covering money lending, deposits, bank Secrecy Act/Anti-Money Laundering, fair lending and Home Mortgage Disclosure Act compliance. I am happy to lend my experience to this case review.

Expert Witness Response E-009316

Expert-ID: E-009316

I am happy to review this case on behalf of the plaintiff. I have over 30 years of financial regulation experience working at several US regulatory agencies such as the Office of Thrift Supervision, Comptroller Currency, and Federal Home Loan Bank of Dallas. I have a deep understanding of the mortgage origination process and would be able to determine if the defendant’s loan servicing practices conform to the loan servicing guidelines in question and if there have been any fraudulent practices.

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