03-30-11 Liquidation v Etienne

8/2/2019 03-30-11 Liquidation v Etienne

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INTHENINETEENTHJUDICIALCIRCUITCOURTINANDFORST.LUCIECOUNTY,FLORIDACASENO.09-CA-008550

LIQUIDATIONPROPERTIES,INC.,

Plaintiff,vs.BENETETIENNE,

Defendant._________________________________/

DEPOSITIONOF

WILLIAMA.FOGLEMAN

Wednesday,March30,2011WestPalmBeach,Florida2:11p.m.-2:52p.m.

FloridaCourtReporting561-689-0999


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APPEARANCES:

ONBEHALFOFTHEPLAINTIFF:

FLORIDAFORECLOSUREATTORNEYS,PLLCSuite690601ClevelandStreetClearwater,Florida33755727/446-4826BY:R.J.FERRARO,Esq.

ONBEHALFOFTHEDEFENDANT:

KORTE&WORTMAN,P.A.Suite1022041VistaParkwayWestPalmBeach,Florida33411

561/228-6200BY:BRIANK.KORTE,ESQ.

INDEX

WITNESSPAGE

WILLIAMA.FOGLEMAN

DirectExaminationbyMr.Korte...............4

Cross-ExaminationbyMr.Ferraro..............-



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EXHIBITSIDENTIFIED

Defendant'sExhibitNumber1....................4/911-20-2009AffidavitastoAmountsDueandOwing

Defendant'sExhibitNumber2....................4/12NoticeofFilingOriginalNoteandattacheddocuments

Defendant'sExhibitNumber3....................30ComplaintforMortgageForeclosureandOtherRelief



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ThedepositionofWILLIAMA.FOGLEMANwastakenbeforeme,SusanS.Kruger,NotaryPublic,StateofFloridaatLarge,at2041VistaParkway,Suite102,WestPalmBeach,Florida,onWednesday,March30,2011,beginningat2:11p.m.,pursuanttothenoticeinsaidcauseforthetakingofsaiddeposition,whichisattachedtothecourtfileherein,attheinstanceofthedefendantintheabove-entitledcause,pendingintheabove-namedcourt.

(Defendant'sExhibitsNumber1andNumber2weremarkedforidentification.)THEREUPON,

WILLIAMA.FOGLEMAN,beingbymefirstdulysworntotellthewholetruth,ashereinaftercertified,testifiedasfollows:

DIRECTEXAMINATIONBYMR.KORTE:QSir,willyoudomeafavorandstateyour

namefortherecord,spellingyourlast?

AWilliamA.Fogleman,F-o-g-l-e-m-a-n.

QAndsir,wouldyougivemethebenefitofyoureducation,startingatthetimeofhighschoolandgoing

forward.

AAttendedcollegeatLouisianaTechUniversityandlawschoolatL.S.U.



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QAndthebenefitofyourworkhistorystartingfromthetimeyouleftlawschool?

APracticedlawforaboutfiveyears,fivetosevenyearswithaprivatelawfirm.Iwenttoworkforabankforaboutapproximatelytenyears,didmanagementworkforfiveyears,andthenstartedworkingforaservicingcompanyafterthat,SNServicingCorporation.

QSN?

ASN;theinitialsSNServicingCorporation.

QAndwhatjobtitledoyoucurrentlyholdforSNServicingCorporation?

AI'mcorporatecounsel.

QAndwhereisSNServicinglocated?

AInBatonRouge,Louisiana.

QAllright,sir.You'vebeenaskedtocomeheretodayasthepersonwiththemostknowledgeatLiquidationPropertiesregardingtheAffidavitofAmountsDueandOwing,correct?

AYes.

QWhatistherelationshipofSNServicingtoLiquidationProperties,Inc.?

AItistheservicingcompanyfortheplaintiff.

QAndwhatdoestheservicingcompanyinthis

particularcasedofortheplaintiff?

ATypically,theservicingcompanyis



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responsibletomonitortheloansthatitservicesfortheinvestor,collectspayments,contactstheborrower,sendsouttheborrowercorrespondence.Ifthemattergoesintoforeclosure,we'reresponsibletoengagecounsel,provideinformation,numbers,getthecollateralandprovideittotheattorney.

QAndwhatpartofthatservicingdoyoudopersonally,ifany?

AAllofit.QYoupersonallygetthecollateraland-AIorderit.Wedon'tholdthecollateral.

Thecollateralisheldbyacollateralagent.Werequestitfromtheinvestor.Wearenotthecollateralagent.

QWhenIsayyou,Imeanyoupersonally.Doyou

actuallycollectpaymentsandpostpayments?ANo.QWhatpartoftheservicingdoyoudo

personally?AUsually,Imeaninacaselikethis,I'llget

involvedwhenthecasebecomeslitigated-Q

Wouldit-A--eitheracontestedforeclosureorasuit

againsttheinvestor.QI'msorry,Ididn'tmeantointerruptyou



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there.

Woulditbefairtosaythatyourentireinvolvementinthiscasereallyisinsupportofthelitigation,notinthetraditionalservicingsense?

AWell,Iwouldhatetocharacterizeitthatwaybecausewe--servicingincludesallofthatforus.

QIdon'tmeanSN.I'mtalkingaboutyoupersonally.HereI'mjusttalkingaboutyourpersonalinvolvementwithfiles.Woulditbefairtosaythatyoupersonallyonlybecomeinvolvedinfilesduringthelitigationphase?

APredominantly,butnotonly.TherearecasesthatIaminvolvedinthatare--youknow,ifthey

becomeapeculiarcase,I'minvolvedincollection,contactingtheborrower.

QWell,inthisparticularcase,whenisthefirsttimeyoubecameinvolvedwiththisfile?

AWhenitbecamecontested.

QWoulditbefairtosaythatyourentireinvolvementinthiscaseispostlitigation?

AAftertheforeclosurewasfiled.QYes,sir.AYes.QWoulditbefairtosaythatyourentire

involvementinthisparticularcasehasbeentosupport



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thelitigation?

AWell,Iwouldhatetosayjusttosupportthelitigation.

QWell,whathaveyoudoneinthisparticularcaseafteryoubecameinvolved?

AReviewedthelitigationdocuments,reviewedthehistory,theloanhistory,reviewedthe--discussedthecasewithnumerouspeopleintheofficethatareresponsibleforactuallyphysicallycollectingpayments,postingamounts,servicingtheloan.

QHaveyoudoneanypostingofpaymentsyourself?

ANo,therehaven'tbeenanypaymentsmadeinthiscase.

QHaveyoudoneanyescrowdisbursementsonthiscaseyourself?

ANo.

QHaveyoudoneanyoftheclientcontact

directlyyourselfasfarastryingtogetamitigationplantogether?

ACan'tcontacttheborrower.They'rerepresented.

QSothatwouldbeno,youhaven'tdoneanyofthat?ANo.



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QWoulditbefairtosaythatyou'veonlybeeninvolvedinthiscasetoreviewdocumentsandfurtherthecollectionactivities?

AImean,yes,that'smainlywhatI'vedone.

QOkay,fairenough.SoletmeaskifyouwerebroughtheretodayasthepersonwiththemostknowledgeinregardstoanAffidavitofAmountsDueandOwing,whenisthefirsttimeyoureviewedtheAffidavitofAmountsDueandOwingthat'sbeenfiledinthiscase?

AIdon'trememberthedate,butImeanitwasafterthe,youknow,thelitigation,youknow,afterthefilebecamelitigated.

QWell,I'mgoingtoaskyoutoturnto

Defendant'sNumber1that'sinfrontofyou.

AOkay.

QAndI'llaskyouifyoueverhadanopportunitytospeaktotheaffiantbeforecomingheretodayaboutthiscase.

ANo.

QWell,whatdocumentsdidyoureviewbeforecomingheretodaytobecomethepersonwiththemostknowledgeinregardstotheAffidavitofAmountsDueandOwing?

AThepaymenthistory,theloanrecordsshowingdisbursementsandtheaccountofficer'snotes.



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QAnythingelse?

AAllofthelitigationthat'sbeenfiled.

QAnythingelse?

ANo.

QBeforecomingheretoday,didyouspeaktoanybodyregardingthiscaseotherthanyourlawyer?

AYes.

QWhodidyouspeakwith?

ALet'ssee.IspoketoBarbaraCollins.Actually,Ican'trememberwhoIspoketointhedisbursementdepartment,butsomeoneworkingindisbursementswhohandleddisbursementsontheloan.IthinkIspoketoAngelaSolanzano(phonetic).She'sinforeclosure.

QAnyoneelse?

AThat'sallthatIcanrecall.

QAndwhatdoesMs.CollinsdoforSN?

ASheworksintheforeclosuredepartmentalso.

QWhatdoesshedointheforeclosuredepartment?

AShehandlesfileswhentheyareplacedin

foreclosure.

QWhatdoesshedo?Imeanshehandlesfiles;whatdoesthatmean?

AShegetsthefileandspeakstocounsel,


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providesinformation.QAndasfarasAngelaSolanzano-AShe'salsointheforeclosuredepartment.QWhatdoesshedointheforeclosuredepartment?AShedoessimilar.Shekeepstherecords,providesinformationforforeclosures.QAndinthedisbursementsdepartment,doyouknowwhatyouspoketothepersonindisbursementsabout?AAboutthedisbursementsonthisfile.QWerethereanydisbursementsonthisfile?ATherehavebeen.QAndforwhatservices?ATaxesandforcedplaceinsurance.QAnythingelse?AAttorneys'fees.QAnythingelse?AThat'sallIcanrecall.QAllright,sir.WhenisthefirsttimethatSNbecameinvolvedinthisparticularfile,ifyouknow?

AIcan'tremembertheexactdate,butitwas2009.QDoyouknow-AThat'swhenwebeganservicingthefile.



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QAgain,I'msorrytointerruptyou.Doyouknowwhenthisloanwasactuallycreated?AI'dhavetolookatthenotetosee.ButImeanifit'sinhere,Icangiveyoutheexactdate.It'sonthenote.QWell,ifyou'rereferringtoDefendant's2,youcanfeelfreetolookatit.AOkay.Octoberthe30th,2006.QDoyouknowwhowasservicingtheloanonOctober30th,2006andthereafteruntilSNtookovertheloan?ACitiMortgage.QDoyouknowwhyCitiMortgagewasservicingtheloan?ANo,Idon'tknowwhy.QDoyouknowwhotheywereservicingtheloanfor?AItwasCitigroup.QDoyouknowthat,orareyoujustkindofguessing?

AWell,Imeanthat'sjustfromtherecordsthatwehave.ImeanIdon'tknowthatpersonally.Iwasn'tinvolvedinitwhentheywereservicingtheloan.That'sjustwhatIknowfromreadingtherecords.



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QSoitwouldbefairtosaythatthisloanwaseventuallyboardedtoyoursystemsometimein2009?

ACorrect.

QDescribeformetheboardingprocessatLiquidationProperties.

AOfcourse,nowwe'retheservicernow,sowe're,youknow,we'reservicingforLiquidationProperties.

QOkay.

AWegettheloan;wegetthedocuments.Typically,wegetcopiesofthedocuments,notthe

originalcollateral.We'reprovidedwithcopiesofthepriorservicer'spaymenthistory.Allthatinformationisplacedinoursystem.

QNow,discussinghowyouguysreceivedocuments,yousaidthatyou'reservicingforLiquidationProperties.IsitLiquidationPropertiesthemselveswhoacquiretheloanandthenforwardittoyouforservicing?

AYes.

QIsSNinanywayinvolvedinthesecuritizationoftheloanfromthepriorowner?

ANo.QDoyougetinvolvedintheacquisitionphaseatall?



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ANo.QSoLiquidationPropertiessolelyacquirestheloanandthenwillforwardittoyouguys,inthatorder,inthiscase?ARight.QDoyouknowwhenLiquidationPropertiesactuallyacquiredtheloan?ANo,Idon'tknowthedate.QYouwouldjustknowastowhenSNwouldhaveboardedittotheirsystem?ACorrect.QAndalthoughyoudon'tknowthatdatetodayasyousithere,youknowitwassometimein2009.ACorrect.QAsfarastherecordsanddocumentsyouguysgotfromthepriorservicer,whogaveyouthosedocuments?ATheycamefromLiquidationProperties.QDoyouknowwheretheygotthedocumentsfrom?AThepriorservicer.QDoyouknowthat,orareyoujustguessing?

ANo,that'swhattheytoldus.Ididn'tgetthedocuments.Theyprovidedthemtousfromthepriorservicer.QDoyouknowiftherewasaservicerbetween



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thetimeofthemakingofthisnotebyArgentMortgageCorporationandthedelivery--letmestrikethequestion.

DoyouknowiftherewasaservicerthatwasbeforeCiti?

AIdonot.QCouldtherehavebeen?ACouldhavebeen.QWell,webothagreeCitididn'tmakethis

loan,didthey?

AImeanapparentlyonthedocumentstheydidn't.

QDoyouknowthedateasyousitheretodaythatCitiacquiredservicingrights?

AIdon'tknow.

QWoulditbefairtosaythatwhenLiquidationPropertiesacquiredthisloan,theloanwasalreadyindefault?

AIcan'ttellyouthedaytheygotit.Imean

itwasindefaultwhenwebeganservicingit,soImeanthat'sallthatIcangiveyoupersonalinformationon.

QThat'sfairenough.Let'sgothroughitalittlefurtherrelativetotheactualcalculationofamountsdueandowingcontainedinDefendant's1,ifthat'sokaywithyou.



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DoesSNhavedirectaccesstoLiquidationProperties'systemsforreviewofrecords?AForreviewofwhichrecordsnow?QWell,asregardstothisfile,Ithinkyoutoldmeearlierthatyouwereprovidedcopiesofdocuments,correct?AOfthedocuments,theloandocuments;theloandocumentfile.QThecollateralfile?ACorrect.QAndyouweregivencopiesofthepriorservicer'srecords?ACorrect.QWereyougivenanyotherrecords?ANotthatIcanrecall.QWell,isitpossiblethatLiquidationPropertieshaddocumentsthatweren'tforwardedtoyou?AI'msureit'spossible.QDoyouhaveaccesstoLiquidationProperties'computerizedsystemsorrecordsystems?ANo.

QYoutoldmethatyougotcopiesofthecollateralfile,includingthenoteandthemortgage,correct?ACorrect.



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QDoyouknowwhomadethosecopies?ANo.QWhatisthemethodologyofscanningorstoringdocumentsatSNafteritreceivesdocumentsfromLiquidation?AThey'retaken--Imeanwehaveadepartmentthattakesthem,scansthem,placestheminthesystem.QAndyouscantheoriginaldocuments,ordoyouscanthecopies?AWescanthecopies.QAndwherearetheoriginaldocumentskept,ifyouknow?AThey'rekeptbythecustodian,which,ImeanIdon'tknowtheirphysicaladdress.Ibelievethey'reinNewYork.QDoyouknowwhereLiquidationPropertiesconductsbusiness?AIbelievethey'reinNewYorkalso.QHaveyouevertalkedtoanybodyfromLiquidationProperties?AYes.

QHaveyouevertalkedtoanybodyfromLiquidationPropertiesaboutthiscase?ANo.QAnykindofcorrespondencewithLiquidation



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Propertiesinregardstothiscase,e-mail,voicemail?

AAnactualemployee?QYes,sir.ANo.

QI'mlookingatDefendant's1,paragraphtwo.Inthissecondparagraph,they'rereferringtoallthebooksandrecordskeptbytheservicingagent,correct?Doyouseethatinthesecondsentence?

AYes.

QWhatallbooksandrecordsarewetalkingaboutthatwerereviewed?

AThedocuments,theloandocumentsandthe

loan--Imeantheloanhistory,recordsofdisbursements.Andtherewouldbecontactswith--inthiscasethere'snotbeencontactwiththeborrower,buttherewouldbecontactswiththeattorneyinthiscase.

QDoyouknowifEtienneeverhadanopportunitytospeaktosomebodyatCitiMortgage,thepriorservicer?

AImeanIdon'tknowpersonally,no.

QI'mtryingtofigureouthow,ifalltherecordscamefromCitiMortgage,thepriorservicer,in2009andtherewerenodocuments--ornopaymentsmadeafterdefaultin2008,thatyouhaveallthebooksand



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recordsinyourservicingsystem.CanyoutellmehowtheaffiantinthiscasewasabletodiscusswithpersonalknowledgerecordsthatarecontainedintheCitiMortgagesystem?

ABecausetheyprovidedtherecordstous.

QThey,CitiMortgage,providedtherecordstoyou,ordidLiquidationPropertiesprovidetherecords

toyou?ANo,CitiMortgageprovidedtherecordstous.QSonow-AThepriorservicer,Imeantheygavethemto

LiquidationProperties,whogavethemtous.

QSoyourpriortestimonyisconsistentthatyougottherecordsfromLiquidationProperties?

ARight.

QAndthatyouthinkthatyougot--thattheygottherecordsfromCitiMortgage?

AYes.

QAndyouhavenopersonalknowledgeastowhetherornotLiquidationPropertiesactuallygotthemfromCitiMortgageorfromsomethirdpartysource?

ANo,Idon'thaveactualknowledgeofthat.

QAnddoyouknowiftherecordsthatweresentbyCitiMortgagetoLiquidationPropertieswerecomplete?

ATothebestofmyknowledge.



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QButdoyouhaveanypersonalknowledgeastothecompletenessofthefilesthatwereprovided?AImeanIhavenoreasontobelievethattheyweren'tcomplete.QBeforecomingheretoday,didyoudoanyinvestigationtodiscoverthecompletenessofthefiles?AIexaminedthem.QDidyoucallanybodyatCiti?ANo.QAtanytimedidyouinvestigatewhetherornottheymighthavemorerecordsthantheonesthatwereprovided?AIhadnoreasontoquestionthattherewere.QWell,thenlet'stalkaboutsomeofthenumberscontainedinparagraphfive,ifthat'sokay.AOkay.QLet'slookatthefirstline,whichisprincipal.Canyoutellmehowthatwascalculated?ATheytookthepaymentsthatwerereceivedfromtheborrowerandcreditedthemtotheloanbalance.QSNdidn'treceiveanypayments,correct?

AThat'scorrect.QSoallthepaymentsthatwouldhavebeenpostedtothisaccountwouldhavecomethroughCitibankMortgage?



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AThepriorservicer.QAndanypriorservicerofCitiwouldhavealsohadtherecordscontainedtherein?ARight.QWhat,ifanything,didyoudotoverifytheaccuracyofthatnumber?AIexaminedtheirservicingrecords.QDidyoulookatthechecks?ANo.QOtherthanlookingatservicingnotesandboardingdocuments,whatdidyoulookat?AThat'sallIlookedat.QDidyoulookatapaymenthistoryotherthantheelectroniconethat'scontainedinyoursystem?AIlookedattheprior--acopyofthepriorservicer'spaymenthistory.QSoyousolelyrelieduponthepriorservicer'spaymenthistoryincomingupwiththeprincipalamountthat'sowed?AYes.QIsthatanelectroniccopy,oristhatahard

copy?AImeantheygaveusahardcopy.QSodidyoureviewanelectroniccopyorahardcopy?



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AAhardcopy.

QAndwasitacompilation,aspreadsheet,orwasitsomeotherservicingrecordthathadapaymenthistory?

AImeanit'sjustahistory.ImeanI'mnotsurewhatyou'retalkingabout,aspreadsheet.Itshowsthepaymentcominginandhowitwasapplied.

QSoyoujusthadalistofthepaymentsandapplication?

ACorrect.

QLet'stalkaboutthenextline,interestfrom

November1st,2008throughDecember16,2009.Doyouseethatone?

AUm-hmm.QCanyoutellmehowthatwascalculated?AThat'scalculated--Imeanwecalculatethat

usingour,youknow,ourownrecordsbasedonthelastpaymentthatwasmadeandthecurrentoutstandinginterestrate.

QSowhendidyouguystakeoverservicingofthisloan?In2009?

AYes.

QOkay.

AIdon'tremembertheexactdate;Ican'ttellyoutheexactdate,soIdon'twanttobeincorrect.



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QIdon'twantyoutobe--Imeanthat'snotatrickquestion.Iwantedtopointouttoyouthoughthattheinterestcalculationstartsin2008,priortoyourservicing.

AOkay.

QHowcanyoucalculateinterestforsomethingyouweren'tservicing?

ABecausethatwasthelastdateapaymentwasmadeontheloan.

QHowdoyouknowthelastpaymentwasmadeonNovemberthe1st,2008?

AWell,actually,thatwasn'tthelastdateapaymentwasmade.Thatwasthelastpaymentthatwascreditedtotheloan.Inotherwords,paymentwasmadeafterthatdate,butitwaslate.Soitbroughttheloancurrentthroughthatdate.

QSothatwouldbe-

ASofromthatdateforward,interestwouldcontinuetorunbecauseithasn'tbeenpaid.

QIsthisanadjustableratemortgage,oristhisafixedratemortgage,ifyouknow?Defendant'sNumber2actuallyhasthemortgageandthenoteinit,soIdon'twantyoutogo-

AItdoes?

QItdoes.



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AIdidn'tseethenote.QIthinkit'sthethirdpage-AAdjustablerate.Q--thethirdpagefromthefront.AYes.QIstheresomesortofanindexthat'susedtocalculateinterestinthisparticularcase?AYes.QWhatindexisthat?AThisoneisbasedonLIBOR.QDoyouknowwhattheadjustmentperiodis?AEverysixmonths.QAsyousitheretoday,canyoutellmewhattheLIBORratewasandthetrueinterestratewouldhavebeenonNovemberthe1st,2008throughDecember16,2009?ANo,Icannot.QSocanyoutellmehowthecalculationwasdonetocomeupwith26,037.97,aslaidoutinparagraphfive,secondsentence?AThatindexwasappliedtotheoutstanding

principalbalanceoverthatperiodoftime.QAndhowdoweknowthatwasdonethatway?AThat'sthewaywedoit.QWell,howdoyoucomeupwiththenumber?Is



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thereacomputersystem?Istheresomeonethathand

calculatesit?Howdoyoudoit?

AThere'sacomputersystemthatdoesit.

QAreyoufamiliarwithhowthecomputersystemdoesit?

AImeanyouputinthecurrentindex,andit'sadjustedonthedatesfortheloan,calculatesitbasedontheoutstandingprincipal.

QGotcha.Let'stalkaboutthenextnumber,thelatechargespriortoacceleration.Canyoutellmehowthosewerecalculated?

ABasedontheamountoflatechargesthatareprovidedinthenote.

QWell,howdidyoucomeupwith$1,611.91?

AAndIdon'trememberexactlyhowmany,buthowevermanytimesthenotewaslatepastthegraceperiod,alatechargewasassessedagainsttheloan.

QAndhowmuchwasthatlatecharge?

AThelatechargeisfivepercentoftheoutstandingprincipalbalance.

QAndwhodeterminesifthepaymentisappliedtoanoutstandingpayment--strikethequestion.Letmeattackitadifferentway.

IfIunderstoodyourpriortestimony

correctly,ifapaymentissubsequentlyreceivedaftera



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paymentisoverdue,it'sappliedtothelatestpayment,correct?

AIfapayment--whenpaymentisreceived,it'sappliedtothelastpaymentthat'soutstanding.Inotherwords,thelastpaymentthathasnotbeenmade,it'sappliedtothatpayment.

QThatwaywedon'tskippayments.ARight.QAndisthereagraceperiod?AYes.QWhatinvestigationdidyoudobeforecoming

heretodaytodeterminethattheselatechargeswereappliedcorrectly?

AWell,thesewereappliedbytheprior

servicer.

QSowhatinvestigationdidwedobeforecomingheretodaytodeterminewhethertheselatechargeswereappliedcorrectly?

AWelookedatthepriorservicer'srecords.QThelastline,escrowdeficit.Doyousee

that,sir?

AIdo.

QIt'sbrokenoutinthreeparts:Theforcedplaceinsurance;priorservicer,taxes;andpriorservicer,insurance.I'mgoingtotalkaboutthefirst



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one,theforcedplaceinsurance.Whatisthat?

AIt'sinsurancethat'splacedonthepropertywhentheborrowerfailstocarryinsuranceontheproperty.

QAndwhointhiscaseplacedthatinsurance?

AThiswasplacedbyus,actually,thisforcedplaceinsurance.

QLet'stalkaboutthepriorservicer,taxesandinsurance.Thefirstline,thetaxes,wasthatpaidbySN?

ANo.

QAllright.Andhowaboutthepriorservicer,insurance?WasthatpaidbySN?

ANo.

QWereanyofthosethreeitemspaidbyLiquidationProperties?

AImeantheywerepaidbythem.Weadvancedthesums,andtheyreimbursedus.

QSoSNadvancedthegrandtotalof2,574.57-

ANo.Thepriorserviceradvancedtheothertwo.Weadvancedthe$1,082.55.

QSowoulditbefairtosaythattheonlylineitemthatSNhasadvancedthatyoucantestifyaboutis

the$1,082.55,correct?

AImeanIcantestifythatthepriorservicer's



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recordsshowthatthosesumswereadvanced.

QDidyouseeacheckfromthepriorservicershowingthat?

AIdidnot.

QDidyoucallanybodyatthepriorservicertofindoutifthatsumhadactuallybeenpaid?

ANo.

QParagraphsevenofthisaffidavit,doyouseethat,sir?

AUm-hmm.

QYouhavetosayyesornoorshecan'tgetitdowncorrectly.

AYes.Sorry.

QTheworstarelawyers.It'salwaysum-hmmanduh-uh.

Paragraphseven,sir,thestatement,"Plaintiffownsandholdsandisthepossessoroftheoriginalmortgagenote,"doyouseethatline,sir?

AIdo.

QDoyouknowwhethertheplaintiffownsthenote?

AYes.Imeanit'sbeentransferredtotheirpossession.

QWhatdocumentsspecificallyareyourelyingupontomakethatstatement?



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ATheyhavetheoriginalmortgagenote.QHaveyoueverseentheoriginalmortgagenote?ACopiesofit.No,I'venotseentheoriginal.QWell,howdoyouknowthey'vegotitifyou'veneverseenit?ABecauseIknowthatourcounselhasputitintherecords.QButyou'veneverseenit?AI'veneverseentheoriginalnote.QAndwhenthisstatementwasmadeonNovember20th,2009,hadtherebeendocumentsinplaceinthecourtfileasfarastheoriginalisconcerned?AIbelievetheyhavebeendepositedinthecourtrecordsatthistime.QSothepersonsigningthis,theaffiant,wouldtheyhaveeverseentheoriginalnote?ANo.QSohowcouldtheysaythattheplaintiffownedthenoteatthetime,becausethey'veneverseenit?AWereliedonwhattheinvestortoldus.QParagraphseven,thethirdwordthere,the

holdsword,whatdoesthatmean,thattheyholdit?AThey'retheholder.QWhatdoesthatmean,ifyouknow?AIfyou'retheholderofanote,youpossess



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thenote.

QAndwasthisnoteeverlostormisplacedatanytime?ANottomyknowledge.MR.KORTE:I'mgoingtomarkthisasDefendant's3.

(Defendant'sExhibitNumber3wasmarkedforidentification.)BYMR.KORTE:

QI'mgoingtohandyouwhat'sbeenmarkedasDefendant'sNumber3.ThisistheComplaintthatwasfiledinthiscase.Ifyou'ddomeafavorandreadthetitleofCountI.

AReestablishmentofNote.

QAndthefirstfullsentence,thefirstparagraphthroughparagraphsix,wouldyoureviewthosebrieflyandletmeknowwhenyou'redonereviewingthem.

AOkay.

QSoI'mgoingtoreaskthequestion.Doyouknowifthisnotewaseverlost,misplacedorstolen?

AIdonot.

QAsyousitheretoday,isthistheveryfirsttimeanybodyhastoldyouorhasshownyoudocumentspointingtothefactthatthisdocument,notewaslost,misplacedorstolen?



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ANo.I'veseentheComplaintbefore.QSoyourealizethattherewasacountinthe

Complaintforlostorstolennote,correct?

AYes.

QDoyouknowifthat'strueornot,ifitwaseverlostorstolen?

ANotduringthetimeweservicedit,no.

QSoifthenotewaslostorstolen,andthatcountstillpends,howcantheplaintiffbetheholderofthenote?

ABecauseithasproducedtheoriginalnote.

QWell,thenletmeaskanotherquestion.BacktoDefendant's2,becauseI'mstillkindofconfused.Goingbacktothenote,I'dlikeyoutoturntothefirstpageofthisnoteandtellmewhothelenderis.

AArgentMortgageCompany.

QAnddoyouknowonpagethreeofthenotewhentheendorsementwasplaceduponthisnote?

ADoIknowthedateitwasplacedonit?QYes.ANo,Idonot.QWell,goingbacktoDefendant's3,I'dlike

youtotakealookatthenotethat'sattachedtotheComplaintandtellmewhyitdoesn'thaveanendorsementonit.



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AIdon'tknow.

QWell,iftheservicertookcopiesofthedocumentswhentheplaintifftookpossessionofthenote,wouldn'tyouexpecttheretobeanendorsementonthatcopy?

AWell,Imeanit'snotreallythatunusual,becausewhenyouhavethenote,whenwegetthenotefromthe--whenwegettheloanclosingdocuments,andithasn'tbeenendorsedonthatdate,andweprovidethatcopytotheattorneyfortheComplaint,itwon'thaveanendorsementonit.

QWell,Iunderstandthat-

AAndwhenwegottheoriginalnote,the

endorsementwasontheoriginalnote.

QIsthatwhathappenedinthiscase?

AYes.

QThentellmehowwasitnotendorsedwhenitcamefromArgentandwenttosomethirdparty.

AItwas.

QWell,ifyouhaveacopythat'sgotnoendorsementonitthatwassenttoyouwhenyoutookitoverin2009,howdowesubsequentlygetanendorsementonitwhenthisloanwasinitiallycreatedbyArgentandsenttoCiti?Wouldn'tweneedsometypeofanendorsementfromArgenttoCiti?



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ABecausethenotethat'sattachedtotheComplaintisacopyofthenotefromtheloanoriginationfile,anditwasn'tendorsedatthatdate.

QSoitwouldbefairtosaythatthedocumentsyoureceivedwhenyoubegantoservicetheloanwerenotcopiesoftheoriginaldocuments,werethey?

AYes,theywere.

QWell,iftheywere,thenyouwouldn'thaveanendorsementonit.Youhaveanendorsementalready,correct?

AButthatistheoriginalnotethathesigned,andthenitwasendorsedafterhesignedthenote.Soitisacopyoftheoriginalnote.

QMaybeI'mjustnothearingwhat'sgoingoncorrectly.IthinkwecanbothagreethisnotewascreatedasArgentbeingtheoriginallender,correct?

AYes.

QAndthatwasdonesometimein2006?

AThat'swhatthenotesays.

QAndatsomepointintime,thisnotewassoldandservicingwastransferredtoCiti.

AYes.

QHowwasittransferredfromArgenttoCiti?

AImeanIwasn'tinvolvedinthattransfer.Idon'tknow.



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QWell,isthereanyassignmentoranyotherdocuments?

AIdon'thaveonewithme.QWell-AIassumetherewasone.QOkay.AImeanthenotewasendorsedinblankand

transferred.

QWell,I'mgoingtotakeyoualittledeeperintotheComplaintandaskyoutolooktheassignmentofmortgage--ImeantheDefendant's2.There'sanassignmentofmortgagethat'sfiledcontainedintheoriginalnotefromArgenttoCitiResidential.Doyouseethat?

AActually,it'sfrom--CitiResidentialistheagentforArgenttoMERS.Isthatnottheone?AmIlookingatthewrongone?

QThisoneis-AWanttoshowmetheoneyou'relookingat?QIt'stheonerightafterthemortgagehere.

Isthatthesameone?Thatisthesameone,yes.

AIt'sfromCitiResidential,astheagentforArgent,toMERS.

QIapologize,you'reright.Iapologize.SowhenwasthenoteormortgageassignedtoLiquidation



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Properties?Wasthereanassignmentofmortgage

somewhere?

AYes.

QWhere'sthat?

AWhenisthelatestyou'vegot?It'sbeenfiledintherecords,andIthoughtyouhadit.Ithoughttheywouldhavesentyouacopy.Butthere'sanassignmentfromMERStoLiquidationProperties.ImeanIhaveseenthat.

QWell,let'sgobacktothenotethen.Wedon'thavetogothatfarafield.We'llgobacktothe

assignmentofmortgageinamoment.

SoisityourtestimonythatthecopythatwasscannedintotheSNrecordswasnotacopyoftheoriginalnote,butacopyofthenoteatorigination?

AThatistheoriginalnote.Subsequentlyitwasendorsed.

QOkay.

AImeanifyou'reaskingmewhathappened,Imeanwehavemorethanonecopyinourscanneddocuments.Theypickedupacopythatdidn'thavetheendorsementonitbecauseitwasthefirstcopy.Imeanyouallaregoingtotellme--ImeanIdidn'tdoit,no.ButImeanIcangoandtellyouhowthatcouldhappen;Icouldtellyouhowithappened.Imeanit



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doeshappen,becauseyougetaloanoriginationfile,sowehavethewholeloanoriginationfilewiththenote,themortgage,thegoodfaithstatementandallthatkindofstuff.It'snotendorsedatthattime.Sotheypickedupthatcopyofthenoteandsentittotheattorney.

Theattorneyfiledthelawsuit,didtheparagraphwiththereestablishmentofthenoteintheComplaint,andthensubsequentlyLiquidationPropertiesprovideduswiththeoriginalnote.Andtheoriginalnotedoeshaveanendorsementonit,anendorsementinblank.QWell,wedon'tknowwhenthatendorsementin

blankwasplaced?

ANo,Idonot.

QDoyouseethenamesonthatendorsementinblankforArgent,SamMarzouk?

AYes.

QDoyouknowifMr.MazoukwaseverpresidentofArgentMortgageCompany?

AIdonot.QHowaboutGregoryHanson?AIdonot.QWell,let'sgototheassignmentofmortgage

inthiscase.Weweretalkingaboutthatassignment.



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YoucorrectedmethatthiswasanassignmentfromCitiResidential,asattorneyinfactforArgentMortgageCorporation.DoyouknowwhetherornotArgentwasinbusinessonthedaythiswasexecuted?AIdonot.No,Idonothavepersonalknowledgeofthat.QHaveyoueverheardofawomancalledCrystalMoore?ANo.QHaveyouheardofthetermrobo-signing?AYes.QDoyouknowifMs.Mooreisarobo-signer?AIdonot.QDoyouknowifMr.BryanBlyisarobo-signer?AIdonot.Whoishe?Idon'tseehisname.QHe'sthenotary.AOh.No,Idonot.QDoyouknowwhoVilmaCastrois?ANo,Idonot.QNow,yousaidthere'sanotherassignmentofmortgage-A

Yes.Q--thatyou'reawareofthatIdon'thaveheretoday.I'msureI'llgetitfromyourcounsel.AWell,yes,youknow-



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QFairenough.Whoisitfromandto?AIt'sfromMERStoLiquidationProperties.QWhoatLiquidationProperties,ifyouknow,

causedthatassignmenttobegivenfromMERS?ATheperson'sname?QNo.DidLiquidationPropertiesaskMERSto

issueanassignment?AYes.QWhy?AForpurposesoffilingtheComplaint.QWhydidn'tsomebodyatCitiResidential

Lending,asattorneyinfactforArgent?

ABecausetheloanhadbeenassignedintoMERS,

andwedon'tfilecomplaintsinthenameofMERS.MERSdoesn'tholdthenote.

QSoLiquidationPropertiesgavetheinstructiontoMERStoissueanassignment?AAnassignment,yes.MR.KORTE:Sir,I'vegotnothingfurtherfor

you.MR.FERRARO:Okay,we'llread.MR.KORTE:Fairenough.We'lltakeacopy.

(Whereupon,at2:52p.m.,theforegoing

depositionwasconcluded.)



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THESTATEOFFLORIDA)

)COUNTYOFPALMBEACH)

I,WILLIAMA.FOGLEMAN,doherebycertifythatIhavereadtheforegoingtranscriptofmydepositiongivenonMarch30,2011,andthattogetherwithanyadditionsorcorrectionsmadeherein,itistrueandcorrecttothebestofmybelief.

__________________________________WILLIAMA.FOGLEMAN

SWORNTOANDSUBSCRIBEDbeforemethis_____dayof_____________,2011.

________________________________________NotaryPublic,StateofFloridaatLargeMyCommissionexpires__________________



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Rule1.310,FloridaRulesofCivilProcedure,provides:

(E)Anychangesinformorsubstancewhichthewitnessdesirestomakeshallbeentereduponthedepositionbytheofficerwithastatementofthereasonsgivenbythewitnessformakingthem.PAGELINECHANGEREASON

Underpenaltyofperjury,IdeclarethatIhavereadmydepositionandthatitistrueandcorrect,subjecttoanychangesinformorsubstanceenteredhere.

______________________________DATE:___________________WILLIAMA.FOGLEMAN



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CERTIFICATEOFADMINISTRATIONOFOATH

THESTATEOFFLORIDA))COUNTYOFPALMBEACH)

I,SusanS.Kruger,theundersignedauthority,herebycertifythatWILLIAMA.FOGLEMANpersonallyappearedbeforemeandwasdulysworn.

WITNESSmyhandandofficialsealthis6thdayofApril,2011.

_______________________________(Signer'sidentityunknown)SignedbySusanS.KrugerTime:2011.04.0808:45:22-04'00'Reason:Iamtheauthorofthisdocumentandattesttotheintegrityofthisdocument.Location:NorthPalmBeach,FL

SusanS.KrugerNotaryPublic,StateofFloridaCommissionNumber:EE040490Expires:November8,2014



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CERTIFICATE

THESTATEOFFLORIDA)

)COUNTYOFPALMBEACH)

I,SusanS.Kruger,doherebycertifythatIwasauthorizedtoanddidstenographicallyreporttheforegoingdeposition,andthatthetranscriptisatrueandcorrecttranscriptionofthetestimonygivenbythewitness.

IfurthercertifythatIamnotarelative,employee,attorneyorcounselofanyoftheparties,noramIarelativeoremployeeofanyoftheparties'attorneyorcounselconnectedwiththeaction,noram

Ifinanciallyinterestedintheaction.

Datedthis6thdayofApril,2011.(Signer'sidentityunknown)SignedbySusanS.KrugerTime:2011.04.0808:45:29-04'00'Reason:Iamtheauthorofthisdocumentandattesttotheintegrityofthisdocument.Location:NorthPalmBeach,FL

_________________________________SusanS.Kruger



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April7,2011

WilliamA.Fogleman,Esq.SNServicingCorporation3050WestforkDriveBatonRouge,Louisiana70816

RE:LiquidationPropertiesv.Etienne

DearMr.Fogleman:

Thedepositionyougaveintheabove-styledcaseonMarch30,2011hasbeentranscribedandisreadyforyourreview.

IfyouwillcometotheofficeofFloridaCourt

Reportingat2161PalmBeachLakesBoulevard,Suite302,WestPalmBeach,anytimeMondaythroughFridaybetweenthehoursof8:00a.m.and4:00p.m.,thetranscriptwillbeavailableforyourexamination.

Ifyoudonotcomeintoreadthetranscriptwithin30days,itwillbeforwardedtoMr.Kortewithoutyoursignature.

Sincerely,

_____________________________SusanS.Kruger

cc:BrianK.Korte,Esq.FloridaCourtReporting561-689-0999


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Documents

03-30-11 Liquidation v Etienne