Tonight! How a CPA could upend the case against the homeowner! 6PM EDT 3PM PDT

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The typical case against the homeowner involves the participation of a company claiming to be the servicer. While the company might perform certain functions of the statutory definitions in the regulation of “servicers,” it is actually rare that it is the recipient of money paid by homeowners and even more rare that it is the disburser of payments to “creditors.”

But even if the payment history produced by a representative of the servicer is authentic, it might be barred or struck from evidence, based upon the expert opinion of a certified public accountant.

The opinion of the CPA would simply be that it is impossible to determine the balance of the loan account from the payment history.

Without looking at the accounting ledger of the creditor, the payment history is merely a recitation of activity during the time that the alleged loan was serviced.

The balance of the alleged loan account as claimed by the company claiming to be the servicer is only an estimate. And typically there is no representative of the company claiming to be a servicer that can say that they have seen the accounting ledger of the creditor — or even that they know who the creditor is.

PRACTICE HINT: If the payment history is attached to any filing with the court, including the initial complaint in judicial states, then a motion to strike might be a proper response. As with all motions remember to get a hearing and a court reporter. And file a memorandum.


Here is a plug for my new webinar coming up on Wednesday, September 29 at 3PM EDT and Noon PDT. You can attend the live presentation or ordering the on demand version.

Examination and Challenge of Assignments of Mortgage

It is called Examination and Challenge of Assignments of Mortgage. This is an opportunity for lawyers to earn CLE credits that have already been approved (Florida lawyers 2.5 credits) and homeowners to gain knowledge of the real issues facing lawyers and what knowledge and skills are required to actually win these cases. Lawyers from other states will probably be approved for 2.0-2.5 credits.
CLICK HERE TO look for more information about the webinar, the curriculum and how to sign up.


One Response

  1. This was a brilliant presentation. Anybody who missed it, go back and listen to the archive tape.

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