When Are CountryWide Notes Endorsed And excerpt of deposition transcript of Sjolander

8/2/2019 When Are CountryWide Notes Endorsed And excerpt of deposition transcript of Sjolander

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truthful, too bad your retirees lost their pension checks, screw you, were

Goldman.Now, whats important to keep in mind is this is just one institutional

investor who was smart enough to catch this. The allegations contained inthis litigation could and should be being made in lawsuits all across this

country.NEWSFLASH: ALL YOU RETIREES AND PEOPLE THAT THINK YOURPUBLIC AND PRIVATE PENSIONS ARE SAFE..REMEMBER THE OLD STORY,

THE EMPEROR HAS NO CLOTHESAnywhoo, back to the story the question about how billions of dollars in

notes gets transferred should be on everyones mind. Our nation has beenhijacked by the reckless and out of control banking system with their

sloppiness, lies, smoke and mirrors and misrepresentations. And now theyhave thoroughly polluted our court systems. But some judges are fighting

back. They are pulling back the curtain, not willing to be blown off orglossed over by slick lawyers who want to dust them off, distract them and

suggest they should ignore fundamental legal principles.

The fate of this nation rests in the ability of good judges and a strong legalsystem to defend and protect this nation from the looming regime, the

banking cabal, that has hijacked the whole of the UnitedStates government.

Read these deposition transcripts carefully, can you spot the critical legalissues that are spawned here? Can you figger out who the who in whovilleis?Consider the impact of this in all Countrywide cases


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Case 2:09-cv-00182-DCB-JMR Document 118-1 Filed 02/27/12 Page 1 of 16

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which you s.eem to be maybe saying? I m sorry. Were yougoing

MR. HEMBREE: I 'm t rying to understand whatyou're saying.THE WITNESS: Me too.MR. KIRBY: She jus t said day-to-day she does

basical ly the same thing. And I was jus t t rying toascer tain whether tha t meant - -

THE WITNESS: I manage my groups so I managea l l of these areas , and I do the - - you know, I tackleissues that ar ise in a l l of my groups.BY MR. KIRBY:

Q Okay. So, specif ical ly , in 2006, 2007, what wasyour t i t l e? I mean 1 I know we've covered i t , but I wantto narrow it down to 20D6, 2007 a t Countrywide.

A r must have been an executive vice president .Q Okay, EVP. And tha t had to do with secondary

marketing and marketing of loans to se.condary market andbasical ly a l l of the things you've described?

A Yes.Q Okay.A Except for trading.Q Except fo r t rading, okay. Are you considered an

off icer or director or managing agent fo r your company orfor Bank of America, I guess, nowCourt RepOrters , Inc. EXHIBIT A Page : l. ?


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1 very pa t ien t .2 So your dec la ra t ion ind ica tes - - I th ink i t s3 paragraph 10, but also throughout, but I th ink I 'm4 t a lk ing par t i cu la r ly about paragraph 10, t ha t i t s thes rout ine prac t i ce fo r notes to be - - I mean, fo r6 endorsements to be placed on notes on the day the7 c o l l a t e ra l f i l e i s received a t Recontrust , but the8 endorsements themselves are not dated. So i s there any9 way to know absolute ly for sure tha t it was done on tha to par t i cu la r day?1 A No. However, the loan would have not passed2 cer t i f ice1t ion i f there was no endorsements appl ied on

September 7th o:J;: 2007.4 Q And what would have happened on September 7th?5 A Ins tead of it being reviewed without def ic iency,6 it would have been reviewed with a defic iency showing7 s t a t ing t ha t there was no endorsement on the note .8 Q Okay. You had sa id t h i s ea r l i e r , but I j u s t9 I jus t want to make sure . So what you had sa id e a r l i e r0 was tha t , according to Exhibi t B to the dec la ra t ion , the1 note was rece ived in to the Fannie vaul t on September

lOth. I s t ha t correct?A Yes.

4 Q And then it was re leased on Apr i l 22nd. Nothinge l se happened to it during tha t t ime. Is tha t -- I mean,Qourt : l leporters, I nc . Page, 72


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I have an of f ice in Simi Valley, yes .2

AQ But i s i t considered an of f ice - - I mean, i s it

3 in the Recontrust building?4 A I t i s in tha t bui ld ing .5 Q Are you in charge of hi r ing any of these people6 t ha t do tha t .7 A No.8 Q When you ' re in the Simi Valley of f ice , do you9 ever observe th e endorsing going on?

10 A Only when I do an audi t . secur i ty based, I do11 not have a secur i ty l eve l to be in there without being i n12 the company.13 Q so you ' re not even allowed, unless accompanied14 on th e f l oo r where th i s i s happening?15 A Unless I 'm performing an audi t and unless16 escor ted by a Recont:rust assoc ia te .1718

Q So you wouldn ' t know anything o r would you - Let me ask you: would you know the name of the

19 person who d id t h i s stamping, fo r example?0 A NO.

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Q I mean, would you be able to t e l l which f loorthey were on when they did i t ?

A ! know where they a re loca ted , yes .Q Okay. But , I mean, you weren ' t there when it

happened?Court R,e


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AQ

No.Arid of the individuals tha t do i t , tha t did th is

3 in 2007, you wouldn't be able to ident i fy which4 par t icu la r individual put the stamp on th i s par t icu la rs nate?6789012345

you?

AQ

AQ

Correct .This Laurie Meder, i s she in the same office as

She's par t of Recontrust, yes.I mean, i s she l ike you? She has an off ice a t

Recontrust and a t --

a

A No.Q I guess, a t th i s t ime, Countrywide?A I do not have an off ice a t Recontrust. I havewe are located in the same building. I do not

6 have the buildirtg is not considered Recontrust .7 Q Okay. I guess I misunderstood.8 A The vaul t i s attached to the building. I t i s9 located a t 1800 Tapa Canyon. But my off ice i s not within0 Recontrust. There are other par ts of Bank of America12

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tha t are located a t tha t same fac i l i ty .Q So are you describing -- th is 1800 Tapa Canyon

Road, i s it a large complex.?A Yes.Q And you're saying your par t icu la r par t of the

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Q Okay. Are the procedures that are used inendorsing not.es se t aside for Fannie Mae the same asthose used for non-Fannie Mae notes? Do you know?

A They do not report to me.Q I mean, have you ever personal ly, you know, with

a pen signed an endorsement on a promissory note?A No.Q I think I 'm jus t about done.

So you were not an employee of Recontrust?A Correct .Q Are you involved a t a l l with any aspects of

Recont.rust ' s operation?A I have oversight.Q Oversight of Recontrust?A Oversight of the col la tera l .Q Well, so, for example, jus t in generalr who

would you contact about col la tera l a t Recontrust? Imean, a name, i f you know i t ?

A Laurie Meder.Q She i s your contact a t Recontrust, and tha t wast rue in 2007 we're ta lking about?A Yes.Q The same now?A Yes.Q I mean, how often would you est imate tha t you

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:BY MR. KIRBY :Q Now, how i s it -- o r what's the rout ine process

by whi


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1 and Without Recourse"? Or, I mean, j u s t exac t ly as it2 appears. with the s igna tures and everyth ing?

Exact ly how it appears .4

AQ Okay. so t ha t i s an endorsement rubber stamp,

5 okay. Is the note endorsed a t the same t ime the6 co l l a t e r a l f i l e i s created? And maybe t h a t ' s no t a good7 way to phrase it.8 A The endorsement stamp i s placed when the9 co l l a t e r a l f i l e i s rece ived in to co l l a t e r a l process ing .01

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Q So branch co l l a t e r a l documents, they g e t th epackage from the branch, stamp the endorsement, and thent h a t ' s how it's done; i s t ha t cor rec t?

A What i s cor rec t .Q Okay. So where in wel l , in genera l , would

5 the endorsement a l l take place a t th e - - a t the6 custodian , a t the cus tod ian ' s place of business?7 A The endorsement stamp i s placed when it's8 rece ived in to c.ol la tera l process ing , yes .9012

QAQA

Which i s a t the cus todian ' s?Which i s in theThe Tampa - - the four locat ions?That ' s one of th e four loca t ions , yes . In t h i s

case , it was rece ived in to Simi Valley, Cal i fo rn i a .4 Q Okay. so l e t ' s see . So what happens a f t e r the5 note i s pu t in the co l l a t e r a l f i l e? Where does the

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i t ?2 A It's common, s tandard prac t i ce .3 Q I may not be asking it qui te r igh t . I guess4 what I m asking i s : Do they the people who ac tua l ly5 use the s tamps - - i s there more than one, o r i s there6 j u s t one stamp? I sa id "stamps' ' mul t ip l e . Is there only7 one, o r i s there8 A No, t he r e ' s mult ip le stamps.9 Q So do these people sign something t h a t says , "I0 unders tand I 'm under Michele Sjo lander ' s power of

attorney?2 A once again , you would have to look a t the desk3 procedures fo r Recont:tust, and you would have t o t a lk to4 someone a t Recontrus t .5 Q So t h a t s your unders tanding t h a t you - - d id you6 s ign a power of a t to rney document?7 A Yes, I did .8 Q And, I mean, can you explain j us t in - - you9 know, in genera l , not word fo r word what it says , but0 what does it purpor t to grant as power of a t torney?1 A I t gran t s Recontrust . They can endorse and2 ass ign notes on behal f of myself .

Q And do you know i f t h i s appl i es to a se l ec tgroup o f people?

5 A I do no t have - - I would have to read theCourt- -Repor-tel;"s, I n c ~ Page, 75


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what -- you kind of touched on th is ear l ie r , but whatexactly were you reviewing when you

A I reviewed Exhibit A.Q Exhibit A. And who provided that to you, or how

was tha t provided to you?A I t was brought in to me by one of my associates.

May I say, not the or ig ina l .Q Right, not the original . Presumably because, a t

the t ime you were reviewing i t . ~ the original , as we sawin Exhibit :S, had been released back in Apri l of 2011.

1 A The exhibi t , yes. The or ig ina l had been2 released to the attorneys.3 Q And tha t - - and so when you - - when ye>u were --4 I mean, obviously you signed th is according to th i s as15. on November 1st , 2011; correct? I mean, t ha t ' s what6 it yeah. Okay.7 So you were not looking a t the or ig ina l note8 when you when you performed th i s review refe.rred to in

19 paragraph 7?0 A I believe, when I performed th i s review, the1 attorney sen t me a copy of the note, as well as I wanted

to confirm tha t the copy that they sent me was the copy3 that was in our system, so I did review both.45

QA

You reviewed bothCopies.

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1 Q - - th e copy t ha t th e a t t o rney sen t you and the2 copy t ha t was in th e system? I s t h a t what you sa id?3 A Yes.But not the ac tua l o r ig ina l paper note?

Nope.456

QAQ And do you know which a t to rney it was t h a t had

7 t h i s t h a t sen t t h i s to you?8 A I would have to look a t my e-mai l .9 MR. HE!MBREE: Jus t - - I ' ve l e t it go as fa r as0 communications with a t torneys , but a t some po in t I 'm1 going to have to ob jec t on pr iv i l ege i f we ge t too fa r

in to pr iv i l ege .MR. KIRBY: I unders tand .

4 MR. HEMBREE: But no problem so f a r .MR. KIRBY: Okay.

6 Q Okay. So when you reviewed these copies , where7 were you when you d id tha t?8 A My Simi Valley o f f i ce .9 Q So do you know fo r cer ta in when - -0 The endorsement t h a t you, you know - - th a t you1 sa id was on th e no te a t th e t ime you reviewed it f.or the2 dec la ra t ion , do you know when t h a t endorsement came to be

placed on th e no te in t h i s case?A I s t a t ed in .the dec la ra t ion t ha t th e endorsement

5 was placed a t the t ime t h a t it was received in toCourt Reporters , m e . Page; 66


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1 A A ll noncorrespondent lending loans were2 processed through Simi Valley a t t h a t t ime.3 Q Okay. So my unders tanding i s - - and please4 cor rec t me i f I 'm wrong. Well, l e t me phrase it as a5 ques t ion .6 It's employees a t Recontrust t h a t stamp the7 endorsements on the notes in general , inc luding t h i s one;8 i s t h a t r igh t?9 A Yes.012

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And you've seen t h a t taking place?Yes .In Simi Valley?Yes.

Q I s there some type of manual or s e t ofins t ruc t ions?

A They have my power of a t torney .17 Q Well, okay. That ' s not what I 'm asking. But I

want to know about that. . But what I m saying: Is9 there some s o r t of. manual or ins t ruc t ions or - -0 A If you want to know th e desk procedures, you1 would have to speak with an assoc ia te o f Recontrus t .2 Q Okay. Okay. Sorry. I 'm j u s t reading the notes

again. Now, I 'm going to t ry to expla in t h i s . I may24 have to do it a couple of times, but j u s t bear wi th me.5 And you ve been very helpfu l so fa r . I apprecia te it .,

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there s two weeks between those - - you know, betl!leen thesigning of the note ana the sending out of it by thebranch. And I was j us t -- and, you know, I 'm j us tasking. I f you don ' t know, t ha t ' s f ine . And you seem tobe indicat ing tha t you don ' t know. But I 'm jus t - -

A There 's a resc iss ion period tha t goes on. Thebranch also has to take the f i le and pu l l out a l l of thec.ollateral documents. This loan funded, I th ink , onAugust 21st , which i s probably towards the end of themonth, which i s when a branch is most - - i s busies t , soI 'm sure t ha t it went in the l ine of being through theprocessor to ge t processed and the co l la te ra l being putinto the f i l e and sent off .

Q And j u s t so - - ju s t because we've ta lked aboutso many vau l t locat ions , you sa id ea r l i e r tha t th i spar t icular note was sent to the Simi Valley vault?

A Yes.QA

Q

From the branch?Yes.Does tha t have anything to do with it being a

Fannie Mae co l la te ra l f i l e?A In 2007 we did not have Fort Worth open, and it

was not a correspondent lending loan, so I know i t didnot go to Tampa.

Q Okay.Court Reporters , Inc.. Pag


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document.2 Okay. But j u s t t o c l a r i fy , once aga in , you3 don ' t ac tua l l y know the l ega l mechanism by which t hese4 people with th e stamps opera te under t h i s power ofs at torney?6 A AS I sa i d , I would have to go back through a l l7 of th e documentat ion t h a t surrounds th e power o f8 a t torney , and Recontrus t has desk procedures , and it9 would be t h e i r procedures fo r them to ass ign t h a t , to0 place the stamp on th e c o l l a t e r a L1 Q And t h i s was a procedure in 2007, what we' re2 t a lk ing here i s 2007?3456

AQAQ

Correc t .And to the present?No.Okay. Let me see .

7 And I don t know if you - - was there any way we8 could g e t a copy of t h a t power of a t to rney , o r i s t ha t ,9 you know0123

Loans,MR. HEMBREE: I can t r y . Countrywide Rome

Inc . , i s no t a par ty t o the l i t i g a t i o n .MR. KIRBY: Right .MR. HEMBREE: So t h a t c rea t e s some i s sues

4 us, bu t we could take a look a t it and see .5 MR. KIRBY: Oh, okay. I fol low you.

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1 when the f i l e i s removed from or relea.sed or taken out of2 Recontrust?3 A The source elements?456789

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Q Right.A Yes.Q Okay. Now, yo:u were saying tha t Recontrust used

to be cal led Treasury Bank?A Yes.Q .And tha t was in - - during your time a t

Countrywide it had been cal.led that?A Yes.Q But you don ' t have any -- do you have any idea

of when tha t changed?A No.Q Okay. Would there be any way to t e l l i f the

col la te ra l f i l e tha t has the note tha t we're talkingabout, would there be a way to t e l l if tha t was ever heldby an ent i ty other than Recontrust?

A I t stayed in the same spot fr.om 2007 till 2011.Q Artd you're saying tha t based on the information

there in Exhibit B?AQ

Yes.Okay. Now, in paragraph 7, you say tha t you've

reviewed the promissory note where it says, "I havereviewed the promissory note as i t exis t s now." I mean,CoUrt Repor t e r s 1 I nc . Page: 64


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tha t?AQ

Secur i ty guards?Right .

A No.Q No. Are t he re any other , you know, safekeeping

secur i ty appara tuses arounCi theA I t i s a t rue contained vau l t .Q Oh, it's an ac tua l vau l t . So when you say

Fannie vau l t , you mean l i t e r a l l y what you p ic tu re in yourmind o f a vau l t of s t e e l doors?

A It i s a - - there are - - it i s under th eguidel ines o f th e cus todia l guides o f what a vau l t has tobe. I f yon look in th e Fannie o r th e Freddie guides , itwi l l t e l l you what the - - what a vau l t has to be, f i r era ted ,

QAQAQ

Do you know what - -I don' t.. I mean, I couldOkay. And you 've been to t h i s pa r t i cu l a r vaul t?Yes.I mean, can you descr ibe it, j u s t in your own

21 terms, j u s t in your own words, what it looks l i ke , what22 we would see i f we went to i t ?23 A Unfinished wal ls , f i r e r a t i ng , cold , dark , rows24 of co l l a t e r a l .25 Q And what i s th e entry? How do you ge t in?

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Q Right.A Collate.ral processing then received it and sent

i t th is loan was pooled into a Fannie Mae secur i ty andsent it to FP, which i s known as Fannie Mae processing.The loan was then processed through Fannie Mae'scustodial e l ig ib i l i ty , went from the Fannie Maeprocessing to FV, which i s the Fannie Mae vault .

Q Right .A I t stays in the Fannie Mae vaul t for

safekeeping, and then you can see tha t it was releasedfrom the Fannie Mae vaul t in Apri l on - - on Apri l 22nd,2011, and tha t was probably due to th i s case to theattorney.

Q Okay. So i s th i s where col la te ra l t ransact iont.racking -- I mean, I don t know i f the at torney s t i l lhas the note or -- I mean, tha t was obviously l a s t year.Would the at torney s t i l l have the note, or would it havebeen returned or -- I mean, i f it were returne(i, therewould not be an entry past that?

MR. HEMBREE: For the record, I do havepossession of the original note in my off ice in Jackson,Mississippi , and have had it fo r qui te so'(lle time.BY MR. K I R B Y ~

QA

SoI f the note was then received back into the

Cou.rt Repbrters , Ilic., Page: 49

When Are CountryWide Notes Endorsed And excerpt of deposition transcript of Sjolander

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