We had a foreclosure case come up for trial last month in Cape May County, New Jersey. The plaintiff was Fannie Mae, and they had bought the loan from my client’s federal credit union. There was significant fraud in the way the Lender lied to my client in order to get him to take the mortgage loan in the first place. I retained an expert witness, a former mortgage broker with 20+ years of experience, to testify at trial. As in a lot of my cases, the expert wrote a narrative report which outlined the fraud that was committed by the lender.
With the trial quickly approaching, the bank filed a motion asking that the judge not allow my expert to testify asserting two main points: 1) if fraud was committed, it was done by others, not Fannie Mae, and 2) the foreclosure lawsuit was simple enough that an expert witness was not required. I filed a Reply Brief demonstrating that Fannie Mae has a duty to evaluate a loan before it buys it, and my expert demonstrated the ways the lender manipulated the loan documents, eventually causing my client to spend $75,000 more than he should over the 30 year term of the loan.
After oral argument, The Honorable William C. Todd agreed with me and denied the bank’s motion. My expert can testify, and is ready and willing to do so at trial.
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