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Representative Engagements

California Department of Business Oversight (DBO) Per Diem Interest Audit

The California Department of Business Oversight (DBO) alleged a large mortgage lender had not properly computed per diem interest on California loan closings. The lender engaged us to perform an audit of a sample of loans selected by the DBO and recomputed per diem interest. We found, and documented in a report, the lender’s proper compliance resulting in dismissal of the DBO action and avoidance of significant fines.

Client Type

Mortgage Company

Law Firms

Service Type

Compliance Audit


False Claims Act Lawsuit

Realtors, on behalf of the federal government, brought a False Claims Act lawsuit against one of the largest mortgage servicers. CrossCheck reviewed and responded to the realtors’ allegations, providing expert testimony that allowed the client to achieve a favorable settlement.

Client Type

Mortgage Servicer

Law Firm

Service Type

Expert Testimony


HAMP Class Action

A plaintiff brought a class action regarding HAMP modifications against one of the largest banks. Counsel engaged CrossCheck to review the mortgage servicing files. We prepared an expert report and provided deposition testimony, which resulted in denial of class certification.

 

Client Type

Large Bank ($50 billion + in assets)

Law Firm

Service Type

Expert Testimony


HAMP Expert Testimony

Counsel for a top-five bank engaged CrossCheck on several cases to review plaintiffs’ declined HAMP modifications. We prepared an expert report and provided deposition testimony, resulting in favorable settlements for the bank.

 

Client Type

Large Bank ($50 billion + in assets)

Law Firm

Service Type

Expert Testimony


Mortgage Servicing Review

One of the nation’s largest banks, serving as trustee on various mortgage-backed securities, wanted to assess the performance of the servicer of the trust’s loans. CrossCheck performed this review, allowing the trustee to have a reliable understanding of the servicer’s performance.

Client Type

Large Bank ($50 billion + in assets)

Law Firm

Litigation Support Firm

Service Type

File Review


Predatory Lending Litigation

A borrower sued the client, a national mortgage lender, alleging that the lender engaged in predatory lending and loan flipping. CrossCheck reviewed the underwriting of the subject mortgage loan and provided expert opinions on the quality of the underwriting (including the borrower’s ability to repay), benefit to the borrower, and suitability of the type of loan. As a result, the client was able to achieve a favorable settlement of the case.

Client Type

Mortgage Banker

Law Firm

Service Type

Expert Testimony


RMBS Investor Litigation

Mortgage-backed securities investors, including government-sponsored enterprises regulated by FHFA, have filed actions under the Securities Exchange Act of 1933 and various state investment acts. Defendants’ counsel has retained CrossCheck to provide loan file review and expert testimony on many of these cases. We review the mortgage loan files underlying the security to evaluate the original underwriting and due diligence process. We determine the consistency of the loan portfolio’s attributes with security offering documents. CrossCheck has utilized its experience with loan products and underwriting standards to provide evaluations relevant to the historical context in which the loans were originated. Our work has culminated in expert reports, deposition testimony, and trial testimony.

Client Type

Large Bank ($50 Billion + in assets)

Law Firm

Litigation Support Firm

Service Type

Expert Testimony