Sub Prime Non Agency Mortgage Loan Matters
Mortgage Asset Backed Securitization
By Maher Soliman
Expert Witness/ Due Diliegence

You will find our firm to be a competent expert witnesses who will provide support for financial argument needed for lawyers case development. Offering primary, secondary and capital markets experience including testimony on highly contested mortgage lending issues. offering institutional experience in CDO REMIC and Asset Backs and a wide range of various conflicting issues involving Pass-through investments and recently originated and aged fixed rate mortgages, adjustable rate mortgages, and second mortgages. Our expert testimony is soundly rooted in SEC private placement issuances and related mortgage backed securities programs.

We are consultants providing verifiable factual support and courtroom testimony to support borrowers and investors alike regarding institutional residential mortgages, interest only mortgages, variable rate mortgages, reverse mortgages, and conventional mortgages, among other topics

The process and method for securitization substitutes the capital market-based finance for traditional credit finance by sponsoring financial relationships without the lending and deposit-taking capabilities of banks (disintermediation). Therein we explain shortfalls where funds are raised by issuing certificates of ownership as pledge against existing or future cash flows from an investment pool of financial assets in the bid to increase the issuer’s liquidity position.

The consultants will opine for discovery purposes covering issues such as increased capital base limits or any selling of reference assets to a SPV, which subsequently issues debt to investors to fund the purchase.

A Trustee will effectuate the sale, of the lender. Sales typically occur in the form of an auction. Each method of recovery suffers from certain weakness inherent with the securities requirements.

California recovery requirement falls under a one-action rule. Primary method of foreclosure in California for example involves a technical procedure called a non-judicial foreclosure. The foreclosure procedure does allow for the same court action one expects in a lawsuit. The deed of trust, when it is initially signed will include provisions defined under a power of sale clause. A judicial foreclosure usually occurs when no power of sale language is included in the loan documents.

Although borrowers bringing an action prior to a trustee sale are most common, borrowers may seek a settlement post a trustee’s sale with challenges to an unlawful conveyance under a wrongful foreclosure.

One aspect of the process of foreclosure is the unlawful detainer action. The borrowers can respond with counsel or pro per. They should petition the court to hear their case whereby they want to show where the lender has caused their borrower to lose his home while being in violation of Predatory Lending laws and Unlawful Conveyance. A loan deemed “Predatory” maybe rescinded.

Loans that where induced by fraud, duress, undue influence, coercion, mistakes or acceptance to a consumer must reasonably believe that the consumer can make payments from other than the equity in their home are instances in which a borrower has claims to bring an action against their lender.

Affirmative Defenses include:

IMPAIRED, DELETED MORTGAGE LOAN: An obligation determined to be unlawful may be arguable under a contract dispute as to the cause and parties alleged to perpetrating a fraud.

ULAWFUL TRANSFERS - The transfer of a beneficial interest (mortgage) or transfer of ownership (Grant deed) in Real Estate can never be conveyed if the deed is deemed void/voidable.

Background

Q: Please list your professional accreditations, degrees, licenses, and certificates granted:
A: Undergraduate CSUN BA Management

Graduate Work UCLA Accounting

Q: Please list your affiliations or memberships in any professional and/or industry organizations:
A: Regulatory Examiner

Prior: California Mortgage Bankers Association

Q: Please list any teaching or speaking experience you have had, including subject matter:
A: Ongoing published articles and interviews with CNN and MSNBC (internet) and regional news programs.

Featured speaker and Advocate for FBI efforts in Predatory lending enforcement.

Media interviews for newspapers covering feature stories concerning recent Lender/Borrower cases.

Q: Have any of your accreditations ever been investigated, suspended or removed? (if yes, explain)
A: Never

Q: On how many occasions have you been retained as an expert?
A: Last 5 years analyst and expert consultant to Law firms in house

Q: For what area(s) of expertise have you been retained as an expert?
A: Consultant to Law Firms in house as analyst and expert.
Secondary Market
Examinar Regulatory and Compliance Audits
Private Placements
SEC
Real Estate & Mortgage Fraud


Q: In what percentage of your cases were you retained by the plaintiff?
A: 20%

Q: In what percentage of your cases were you retained by the defendant?
A: 80%

Q: On how many occasions have you had your deposition taken?
A: N/A

Q: When was the last time you had your deposition taken?
A: N/A

Q: On how many occasions have you been qualified by a court to give expert testimony?
A: N/A

Q: On how many occasions have you testified as an expert in court or before an arbitrator?
A: N/A

Q: For how many years have you worked with the legal industry as an expert?
A: 5 Years

Q: What services do you offer? (E.g.: consulting, testing, reports, site inspections etc.)
A: Pre Trial Negotiations, Consulting, Case Development, Reports, Testimony, Depositions

Q: What is your hourly rate to consult with an attorney?
A: $200 to $300 depending on complexity of assignment

Q: What is your hourly rate to review documents?
A: $200 to $300 depending on complexity of assignment

Q: What is your hourly rate to provide deposition testimony?
A: $350 per hour with $1,000 minimum daily charge

Q: What is your hourly rate to provide testimony at trial?
A: $350 per hour with $1,000 minimum daily charge

Q: Please list any fees other than those stated above (E.g.: travel expenses, copy fees, etc.)
A: Actual cost reimbursement for all hotel, airfare, rental car, photo copies, meals, parking, etc.

Travel Time: $100/per hour

Assistant Expenses (copies, photographs, fax, etc.):
Flat fee billed at $20.00 per hour, as needed

Retainer Fee: $1500.00

References

Christopher Pham, Attorney at Law
Law Offices of Johnson & Pham
707 Wilshire Boulevard St 5400
Los Angeles, CA 90017
(310)622-2275
cpham@johnsonpham.com

Andrew Jay Kulick, Attorney at Law
Law Offices Andrew Kulick
21704 West Golden triangle Rd.
Sagus, CA 91350
(661)253-1543

Marc Terbeek, Attorney at Law
Law Offices of Melhman & Terbeek
2647 International Blvd, Suite 220
Oakland, CA 94601
(510)919-8623
terbeeklaw@att.net

Karl Kop
Attorney at Law
711 South Olive
Los Angeles, CA 90014
bluejaylaw.blogspot.com

Publications