FULL DEPOSITION OF MARCOS FLORES - Assistant Vice President, Regional Outreach Manager of ONEWEST BANK

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FULL DEPOSITION OF MARCOS FLORES – Assistant Vice President, Regional Outreach Manager of ONEWEST BANK

FULL DEPOSITION OF MARCOS FLORES – Assistant Vice President, Regional Outreach Manager of ONEWEST BANK

Courtesy of Ice Legal-

Q. Okay. And the bailee letter, can you describe

19 for me what’s contained in that letter?

20 A. It’s funny that they call it a letter because

21 it really doesn’t look like a letter. It just looks

22 like a cover sheet. It documents the date that the

23 originals were checked out and the signature or

24 acknowledgement for receipt for it.

25 Q. Okay. Do you know who checked that out?

A. I don’t recall the specific name.

2 Q. Do you know where it was checked out from?

3 A. Yeah. It was requested from the document

4 custodian.

5 Q. Who is the document custodian?

6 A. The document custodian is Deutsche Bank

7 National Trust.

8 Q. And do you know where?

9 A. It’s located in California. I don’t have the

10 specific address.

11 Q. And you said the bailee letter contained an

12 acknowledgement of receipt?

13 A. Yeah.

14 Q. Who acknowledged that?

15 A. It was the signature. Like I said earlier, I

16 don’t recall the name signed on that.

17 Q. Sure it wasn’t somebody at OneWest?

18 A. No. It was someone at I believe Florida

19 Default was the original firm, if I recall.

20 Q. Okay. So OneWest’s outside counsel?

21 A. At that time OneWest didn’t even exist. This

22 was back in 2008. So it would have been — I can’t

23 even recall. It would be IndyMac or IndyMac Federal.

 

[…]

Q. Okay. So your testimony was that plaintiff

2 held the note before the filing of the lawsuit, right?

3 A. Yes, sir. To my knowledge, based on my

4 business record.

5 Q. Okay. Are you aware that plaintiff alleged in

6 the original complaint that the note was lost?

7 A. I am aware of that. I came across it in some

8 of the business record review. Not really sure why

9 that was the case or why that occurred.

[…]

Q. Do you know what date Deutsche Bank bought the

21 loan?

22 A. Not specifically. It was in December. I

23 guess about 30 days after origination. Thirty to

24 45 days if I remember correctly.

25 Q. Do you know what was paid?

A. No, I don’t know that. I know some other

2 facts about the particular pool. Close to 780 loans in

3 it.

4 Q. Who did plaintiff buy the loan from?

5 A. The actual I guess pool of loans, they were

6 purchased from IndyMac.

7 Q. So plaintiff bought the note and mortgage from

8 IndyMac?

9 A. Plaintiffs bought the asset, yes, as a part of

10 the pool.

[…]

Q. Is this a copy of the original note?

12 A. Yes, it appears to be.

13 Q. How do you know?

14 A. Just in terms of the basic fundamental things,

15 the origination the 21st of 2005, the property address,

16 the amount on the promise to pay.

17 Q. But you have already testified you never seen

18 the original note, right?

19 A. Yes, that’s correct.

20 Q. Is there an endorsement on this note?

21 A. No, there is not.

22 Q. Is there an allonge attached to this note?

23 A. No, there is not.

[…]

Q. Okay. Do you know who hired Florida Default

24 Law Group for this case?

25 A. Not directly, no, sir.

Q. Is Erica Johnson-Seck in charge of the

2 attorney network for OneWest Bank?

3 A. She is responsible, but I don’t know if she is

4 directly responsible for hiring the firms or assessing

5 their performance.

[…]

Q. Who did plaintiff obtain the right to enforce

4 the note and mortgage from?

5 A. As plaintiff you mean Deutsche Bank?

6 Q. Right.

7 A. Well, they hold the original note and the

8 mortgage.

9 Q. And they obtained the original note and

10 mortgage from whom?

11 A. At the time of transaction or sale, the

12 documents were transferred over to them. That would

13 have been in 2005.

14 Q. So who did they obtain possession from?

15 A. They purchased the asset from IndyMac.

16 Q. So IndyMac was in physical possession of this

17 prior to plaintiff coming in possession?

18 A. I don’t want to draw any conclusions or

19 assumptions. I wasn’t there personally myself, but

20 yes, I would assume so. If Deutsche Bank was in

21 possession of the originals when they were previously

22 checked out and filed with the court, the assumption is

23 that they would have obtained those documents from the

24 FDIC — or not from the FDIC, from IndyMac when they

25 consummated the sale.

 [...]

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