“Appended to the Complaint is a “Forensic Loan Audit” apparently prepared for Stojinski by a company called Tila Solutions. The document states, ’Your Forensic Loan Audit has been completed. The examination has covered all documents provided, including any Broker Disclosures, Lender Disclosures, Closing Documents and Settlement papers.’
The scope of the examination is limited to a determination of the accuracy and compliance of the loan documentation with Federal, State, and Local laws as they may apply to the loan. Particular attention is paid to the discovery of evidence that would support legal action against the current lender(s) to either modify, or rescind the existing loan(s), or in the event of an executed foreclosure, overturn the action.
The document goes on to list the “findings” of an unnamed examiner, which consist partly of potential deficiencies in the loan documentation process. The report is, it must be admitted, hardly a model of clear prose. It contains a somewhat rambling and slanted history of the subprime mortgage crisis, what the Court assumes to be the basic details of Stojinski’s line of credit, a listing of various laws whose connection to the instant case is never made entirely clear, and the examiner’s opinions on the sundry failings of, and perverse incentives inherent in, the mortgage lending industry. It contains several conclusions about Stojinski’s loan, which mainly express subjective assessments as to its fairness and advisability or are broadly hedged where they related to compliance with required procedures. ”
FRANCIS STOJINSKI Plaintiff v. JP MORGAN CHASE BANK et al. Defendants. Civil Action No. L-10-3166. United States District Court, D. Maryland.
