And my duties at
21 that point was a consultant for certain investors that
22 we — that we acquired their pools of loans.
23 And I was that go-to person for that investor,
24 and it was Morgan Stanley and Goldman Sachs at the time.
25 And we acquired — we didn’t acquire, but I acquired
1 Ohio [phonetic] Savings as one of my relationships that
2 I had; and they — I was the go-to person for any of
3 their reporting, any questions they may have had on one
4 of their loans in their pools that we were servicing.
5 So I was that go-to person in client relations, and that
6 position –
7 Q. Can you define what being a go-to person
9 A. Basically if there — again, if there was
10 questions on a particular loan in the pool, if there was
11 an acquisition or they were selling a certain pool of
12 loans, you know, they’d send me up the numbers reports.
13 Q. Okay. For example, you say questions regarding a
14 particular loan in a certain pool. What would be an
15 example of a type of question that you might get?
16 A. I may get a phone call from the investor, I’ve
17 got this particular loan that perhaps is in foreclosure,
18 REO, I need some details of what’s going on, where that
19 loan is at in the process of foreclosure, or perhaps it
20 was an REO. And then my job was to go to those
21 different areas, those different departments and get the
22 details for the client.
4 Q. You have, okay. So it’s your testimony that
5 you’ve never seen this one, though?
6 A. Correct.
7 Q. Okay. But you did review all of the documents
8 that were produced in connection with this case?
9 A. This is the history that I reviewed.
10 Q. Okay. Not the question. The question was did
11 you review all of the documents that Wells Fargo
12 produced in connection with this case?
13 A. I did.
14 Q. Okay. Did you review all the documents —
15 MR. ALFIERI: Objection, form.
16 Q. (By Mr. Bartholow) Did you review all of the
17 documents that I produced on behalf of the Guevaras in
18 connection with this case?
19 A. I have.
20 Q. Okay. And so it’s your testimony that you have
21 never seen that document before?
22 A. I do not recall looking at this particular
23 account activity statement.
24 Q. Okay. Do you know how Wells Fargo determines
25 when and whether to charge a late fee?
1 A. I do.
2 Q. Okay. How do they do it?
3 A. Okay. After the — after the 15-day grace period
4 — and this is typical. Some notes can vary, but it’s
5 typical that the payment is due on the 1st of the month;
6 and after 15 days a late fee is assessed on the 16th of
7 the month. And typically that’s 5 percent of what their
8 payment is.
9 Q. Is it assessed every time?
10 A. Every — each time the payment is late, yes, a
11 late fee is assessed if it’s not received by the due
12 date or the grace period that’s been granted.
13 Q. Are there any exceptions that would be made?
14 A. Not that I’m aware of.
15 Q. Okay. Are you aware of any changes to Wells
16 Fargo’s accounting practices following April of 2007?
17 MR. ALFIERI: Objection, form.
18 A. I am not.
19 Q. (By Mr. Bartholow) Okay. And specifically with
20 regard to how Wells Fargo books receipts and pays late
21 fees from those receipts, have you ever heard of any
22 changes being made?
23 A. I have not.
24 Q. Okay. Are you familiar with Freddie Mac
25 Servicing Guidelines?
1 A. If it pertains to what I do on a daily basis,
3 Q. Okay. And what does that include?
4 A. General servicing of the loan. I do — I have
5 some knowledge of how the custodial files are held.
6 Q. How are the custodial files held?
7 A. It’s designated by Freddie Mac who the custodian
8 would be.
9 Q. I’m sorry, what is designated?
10 A. Who the custodial facility would be, who the
11 custodian would be.
12 Q. Where would that designation be, or how does
13 that designation — I mean, does it appear on a computer
14 screen? Is it in a file?
15 A. It — in general I’m just — no, it would not
16 be — it would not be — are you asking in relation to
17 this loan or just in general?
18 Q. I want to know what your knowledge is —
19 A. Okay.
20 Q. — regarding the custodial procedures pertaining
21 to Freddie Mac and their guidelines.
22 MR. ALFIERI: Okay. Ask — wait for the
24 THE WITNESS: Thank you.
25 MR. ALFIERI: Mr. Bartholow will ask you a
1 question. Answer the question.
2 A. Okay. Could you re-ask the question, please?
3 Thank you.
4 Q. (By Mr. Bartholow) Okay. You stated a moment
5 ago that you were familiar with the custodian — custody
6 guidelines for Freddie Mac, correct?
7 A. Yes, correct.
8 Q. Okay. What are the custody guidelines for
9 Freddie Mac? What is your knowledge of them anyway?
10 MR. ALFIERI: Ask a specific question to my
11 witness, please.
12 MR. BARTHOLOW: That is as specific as I can
14 Q. (By Mr. Bartholow) Please answer the question if
15 you can.
16 MR. ALFIERI: Objection, form.
17 Q. (By Mr. Bartholow) You can answer if you know,
18 if you’re able. If you’re unable, that’s fine. We
19 can — I can pull out some Freddie guidelines and we can
20 talk about them specifically.
21 A. Okay. Let’s move forward.
22 (Exhibit No. 10 was marked.)
23 Q. (By Mr. Bartholow) The document I am handing you
24 is a custodian certification schedule summary form
25 1034S. Have you seen this form before?
Just read this it’s very good…
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