Lawyers
For Plaintiffs’ Lawyers: With
the implosion of the mortgage banking
industry, you may be seeing more
clients who feel they have a legal
claim against either their lender,
their broker, loan officer or someone
who was involved in obtaining their
loan. The questions you face
when seeing such a new client is
whether or not they have a case
and, if so, against whom and under
what legal theories can you proceed.
Mortgage banking procedures and
applicable statutes can be complex. Our
staff has a wealth of experience
in all facets of the mortgage banking
industry and can help you navigate
the applicable federal and state
regulatory statutes for all of
your legal needs.
Rather than waste hours of investigation
and legal research, let MBES help
you decide whether or not your
client has a case, and if so, what
factual and legal areas hold the
most promise for recovery. This
is a great way to quickly determine
whether or not the matter is worth
pursuing. Furthermore, this
would be a legitmate investigatory
expense for your client.
In order to do this, you will
need to supply us with a copy of
your clients’ loan origination
file from the lender as well as
a written summary, prepared either
by you or your clients as to what
they were told or not told by their
broker about their loan. Any
documents they received from their
broker should also be sent along
with your summary. To obtain
a copy of your client’s loan
origination file, have them fill
out our Loan File Request Letterin
our Forms link,
only instead of requesting the
lender to send the file to your
client, have your client designate
you to be the recipient of the
loan file. In addition,
we will need you to fill out and
send with all of your material
a Consulting/Expert Witness
Agreement (“CEWA”) with
the appropriate parts selected,
especially in Part D of the CEWA. The CEWA form
can be filled out online by clicking
our Forms link.
The documents should be sent to Mortgage
Banking Expert Services, LLC,
907 Sir Francis Drake Blvd.,
Kentfield, Ca. 94904, Attn. Loan
Review Dept., along
with a check for $275.00 if you
are sending only one loan file
and $425.00 if you are sending
two loan files. The check
should be made payable to Mortgage
Banking Expert Services, LLC. In
order to preserve confidentiality,
we will contact you within 7-10
business days for an oral discussion
of our findings. This
will preserve our status as a
consultant and thus, not be discoverable
by opposing counsel.
After this discussion, if you
wish to hire MBES to
provide continuing consulting services
or expert witness services, either
by reducing the oral discussion
to a written report or by actually
appearing as an expert witness
for a deposition and/or trial,
such services can also be arranged
by completing the appropriate parts
of Part D on the CEWA Form. As
stated previously, the CEWA can
be filled out on-line by clicking
our Forms link. The
fees for such continuing consulting/expert
witness services range from $250
for a written report of the findings
to hourly rates for testimony from
$250/hr to $450/hr plus costs.
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