Case 1:15-cv-00293-LTS-RWL Document 427-93 Filed 09/30/19 Page 1 of 7

EXHIBIT 93
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DR. MARSHA J. COURCHANE February 05, 2019

S&A CAPITAL PARTNERS V. JPMORGAN CHASE 1

·1· · · · · · · ·UNITED STATES DISTRICT COURT

·2· · · · · · · SOUTHERN DISTRICT OF NEW YORK

·3· ·---------------------------X

·4· ·S&A CAPITAL PARTNERS, INC.,

·5· ·MORTGAGE RESOLUTION SERVICING,

·6· ·LLC, and 1ST FIDELITY LOAN

·7· ·SERVICING, LLC,

·8· · · · · · · Plaintiffs,

·9· ·V.· · · · · · · · · · · · · · ·No. 15-cv-00293

10· ·JPMORGAN CHASE BANK, N.A.,· · ·LTS-JCF

11· ·CHASE HOME FINANCE, LLC, and

12· ·JPMORGAN CHASE & CO.,

13· · · · · · · Defendants.

14· ·---------------------------X

15· · ·Videotaped Deposition of DR. MARSHA J. COURCHANE

16

17· · · · · · · · · Washington, DC 20005

18· · · · · · · · Tuesday, February 5, 2019

19· · · · · · · · · · · · 9:00 a.m.

20

21· ·Reported by: Denise Dobner Vickery, RMR, CRR

22· ·JOB NO. J3591743

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DR. MARSHA J. COURCHANE February 05, 2019

S&A CAPITAL PARTNERS V. JPMORGAN CHASE 33

·1· ·total debt on a residential mortgage, including

·2· ·principal, interest, and any penalties?

·3· · · · · A.· ·Amount due.

·4· · · · · Q.· ·That would just be known as amount due?

·5· · · · · A.· ·Well, different people might call it

·6· ·different things.· You asked what I might refer to

·7· ·it as.· So I would say the amount due.

·8· · · · · Q.· ·Is there an industry term for that?

·9· · · · · A.· ·It might vary depending upon different

10· ·accounting systems, but it would be sometimes called

11· ·total balance owing, total amount due, things like

12· ·that.

13· · · · · Q.· ·Is outstanding principal balance

14· ·different from unpaid principal balance?

15· · · · · A.· ·Well, within -- not -- typically they

16· ·are generally the same.· The outstanding principal

17· ·balance is what is still owing on the loan and has

18· ·not been paid.· So within the course of a month, it

19· ·might vary by some days, but I would have used the

20· ·two terms roughly synonymously.

21· · · · · Q.· ·And would either of those terms differ

22· ·from a charge-off balance?

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·1· · · · · A.· ·It could, yes.

·2· · · · · Q.· ·Okay.· What does charge-off balance

·3· ·mean?

·4· · · · · A.· ·It depends on whether the charge-off

·5· ·balance is called.· The charge-off of the unpaid

·6· ·principal balance or the charge-off balance can be

·7· ·charged off to reflect the amount that you expect to

·8· ·be able to net from the sale of the property as

·9· ·well.

10· · · · · · · ·So it depends upon regulatory guidance

11· ·whether it is only the UPB or whether it nets

12· ·expected net proceeds --

13· · · · · Q.· ·What do you --

14· · · · · A.· ·-- for accounting purposes.

15· · · · · Q.· ·I apologize for interrupting you.

16· · · · · A.· ·Uh-huh.

17· · · · · Q.· ·What do you mean by the net from the

18· ·property?

19· · · · · A.· ·Well, I think I refer exactly to this

20· ·in my report.· So there is regulatory guidance that

21· ·says that after a certain period of time, the OCC

22· ·suggests that charge-off balances be recorded to be

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·1· ·the amount of the UPB less the -- what you think the

·2· ·sale proceeds would be if you're selling the

·3· ·property less the costs of selling.

·4· · · · · · · ·But, again, the exact sentence is in my

·5· ·report.

·6· · · · · Q.· ·Do you recall where in the report that

·7· ·is?

·8· · · · · A.· ·No.· If you gave me my report, I could

·9· ·probably find it quickly.

10· · · · · Q.· ·Okay.· Just a second.· Just had a few

11· ·more items, then we'll get to that.

12· · · · · · · ·While at the OCC, did you ever review

13· ·internal audits for any of the bank -- banks that

14· ·you were involved with?

15· · · · · · · · · · ·MR. WICK:· Object to form.

16· · · · · · · · · · ·THE WITNESS:· ·You'd have to be

17· ·specific about what type of audit you're asking

18· ·about.· From an accounting sense?· No, I was not in

19· ·the accounting department.

20· ·BY MR. DI MARCO:

21· · · · · Q.· ·What about control audits?

22· · · · · A.· ·I believe I probably saw some of those

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·1· ·any requirements that these are necessary parts --

·2· ·pieces of information for a new servicer on a loan?

·3· · · · · · · · · · ·MR. WICK:· Objection.· Calls for

·4· ·legal conclusion.

·5· · · · · · · · · · ·THE WITNESS:· ·I don't know that,

·6· ·no.

·7· ·BY MR. DI MARCO:

·8· · · · · Q.· ·Okay.· In the next paragraph, you state

·9· ·on the second sentence:

10· · · · · · · ·"Regardless, in my opinion -- it is my

11· ·opinion that Mr. Schneider did not, in fact, need

12· ·all of the information listed above in order to

13· ·begin to collect on the MLPA bulk loans."

14· · · · · · · ·Did I read that correctly?

15· · · · · A.· ·Yes.

16· · · · · Q.· ·Did you consider the requirements of

17· ·RESPA when you made that opinion?

18· · · · · A.· ·What I considered in this opinion is

19· ·what needed to be available to Mr. Schneider to

20· ·begin to collect on the loans.

21· · · · · Q.· ·Move to strike as nonresponsive.

22· · · · · · · · · · ·MR. WICK:· Oppose your motion.

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·1· ·BY MR. DI MARCO:

·2· · · · · Q.· ·Did you consider the requirements of

·3· ·RESPA when you wrote that sentence?

·4· · · · · · · · · · ·MR. WICK:· Object to form.

·5· · · · · · · · · · ·THE WITNESS:· ·I didn't look at

·6· ·any of the legal implications of that, no.· I'm not

·7· ·a lawyer.

·8· ·BY MR. DI MARCO:

·9· · · · · Q.· ·Okay.

10· · · · · A.· ·I talked about what would be needed to

11· ·begin to collect.

12· · · · · Q.· ·In reviewing the information for your

13· ·expert opinion, did you come to an understanding as

14· ·to Mr. Schneider -- strike that.

15· · · · · · · ·In reviewing all the information in

16· ·this case -- strike that.

17· · · · · · · ·In reviewing the information that you

18· ·used in rendering your expert opinion, did you come

19· ·to an understanding as to the plaintiffs' servicing

20· ·methods for the loans that they acquired?

21· · · · · A.· ·Are you differentiating -- I'm trying

22· ·to understand your question.· Are you

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