Read With Care… because almost all banks/servicers use the same LPS – Fidelity systems. 🙂
6 Q Tell me about the actual act of signing these
7 affidavits. When you received them from the person who
8 distributes the documents, would they come to you in
9 physical form?
10 A Yes.
11 Q Okay. And would there be one or a stack of
12 them, or how would they come to you?
13 A It could be either.
14 Q Okay. Was it more common than not to get more
15 than one?
16 A No.
17 Q Was there a certain time of day those would be
18 delivered to you?
19 A I usually got them in the morning.
20 Q Would the notary be right there with you?
21 A No.
22 Q Where was the notary?
23 A On the same floor, in the same area.
24 Q So the notary would not watch you sign the
1 A No.
20 Q Tell me about the LPS Fidelity system. Is
21 that one system or are those — is that one title for
22 the same system?
23 A Actually, LPS owns or has both systems. They
24 have the Fidelity system and the LPS desktop management
1 Q And in your course of sending affidavits
2 sometimes you would consult both of those or one of
4 A Yes. Primarily the — our system of record.
5 Q The desktop?
6 A No.
7 Q Or the Fidelity?
8 A The Fidelity.
9 Q What can you tell me about the Fidelity
10 system? Does that have the entire payment history?
11 A Yes.
10 Q Would Fidelity have — besides the full
11 payment history, what other kinds of things would be on
12 the Fidelity system?
13 A The date the note was signed, the origination
14 balance, the principal balance, the date of default —
15 or actually the contractual due date because it’s not
16 always defaulted.
17 Q Anything else?
18 A In bankruptcy we had to post petition due
19 date; the contractual payment and any pending payment
20 changes; the escrow information.
21 Q What about servicing notes, would that be on
22 the Fidelity system?
23 A Yes.
24 Q Now, besides those, anything else?
25 A Yeah, there’s a lot of information on
1 Fidelity. I wouldn’t be able to name it all.
2 Q You said Fidelity contains the date the note
3 was signed; is that right?
4 A Yes.
5 Q Does it contain actual copies?
6 A Not in Fidelity, no.
7 Q Okay. So, in other words, so we are clear,
8 you wouldn’t click on Fidelity to look at a copy of the
9 note; is that right?
10 A No. We have a different system that does
4 Q Okay. What’s in the LPS desktop management
6 A Communication to the law firms.
19 Q Okay. Besides correspondence and besides the
20 milestones, anything else on the LPS desktop management
22 MR. ELLISON: Object to the form.
23 You can answer.
24 MR. ZACKS: What’s wrong with the form?
25 MR. ELLISON: She didn’t say, correspondence.
1 She said, communications to law firms.
2 BY MR. ZACKS:
3 Q You can answer.
4 A Yeah, they have documents in that — either
5 documents from us or we would get documents from them
6 through LPS.
7 Q From?
8 A The law firm.
9 Q And by “law firm,” you’re talking about
10 outside foreclosure counsel; is that right?
11 A Correct.
12 Q Or could it be any other kind of counsel, or
13 bankruptcy counsel?
14 A Yes.
9 Q On the Fidelity system, you said that would
10 contain all the payment records, right?
11 A Yes.
12 Q Would that contain payment records from
13 previous servicers, if there were any?
14 A I don’t think so.
15 Q Where would those records be?
16 A They are in a separate — they’re stored
18 Q Is it a separate database system?
19 A Yeah.
20 Q Okay.
21 A Yes.
22 Q What’s that?
23 A I think it’s called Doctrak.
24 Q Doctrak?
25 A D-O-C-T-R-A-K.
1 Q In your course of signing affidavits of
2 indebtedness, did you ever review the Doctrack system?
3 A No.
4 Q Who is in charge of maintaining the Doctrack
6 A I don’t know.
7 Q Who is in charge of the standards in audits
8 for the Doctrak system?
9 A I don’t know.
24 Q Do you receive anything else from Amber,
25 besides the affidavit itself?
1 A Receive any?
2 Q Sure. She drops off an affidavit on your
3 desk, right?
4 A Yes.
5 Q Is there anything else, along with that
6 affidavit, that she would normally drop off for you?
7 A I don’t understand what you’re asking me. I
8 don’t know what —
9 Q Sure. Would she drop off, you know, the
10 origination file attached to the affidavit, or —
11 A No.
12 Q Would there be anything attached to that
14 A Sometimes the — no. I would just be
15 speculating. I don’t remember.
16 Q Along with the affidavit, would there be any
17 specific instructions for you to sign or review or
18 anything like that?
19 A No.
20 Q Just the affidavit itself?
21 A Yes.
10 Q Okay. And did you — and you’ve already said
11 you wouldn’t check to see if Fannie Mae or Freddie owned
12 that loan, right?
13 A No.
14 Q Okay. Would you check to see if anybody else
15 owned that loan?
16 A No.
17 Q Do you know if anyone did?
18 A I don’t know.
19 Q Did you ever verify a complaint that had a
20 count that said a note was lost?
21 A Yes.
22 Q Okay. And did you look for the note yourself?
23 A No.
24 Q Did you talk to anyone about looking for the
1 A No.
2 Q What did you do to verify that a note was lost
3 or misplaced?
4 A Not usually anything.
7 Q You don’t need special permission to see who
8 the owner or investor is, right?
9 A Correct.
10 Q Would you look at any internal servicing
11 records to determine who the owner or investor was prior
12 to signing affidavits of indebtedness?
13 A Not always, no.
14 Q Okay. Ever?
15 A I can’t say.
Click PDF to Continue to the Full Deposition
Want to know what LPS does when they have the wrong entity? Read The Internal Leaked Emails
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