Documenting protocol infringements to aid counsel
A US financial institution asked Nardello & Co. to investigate the underwriting practices of a major mortgage lender. Although it was well known that this lender had originated billions of dollars of non-performing loans, no one had fully documented the lender’s pattern of providing mortgages to unqualified borrowers. Nardello & Co. contacted more than 1,000 former employees located across the US. Information obtained from the employees, in some instances provided in the form of affidavits, confirmed the lender’s poor practices. Moreover, one witness, an analyst who reported directly to executive management, told us how he warned the lender’s executives and identified reports he provided those executives concerning problem loans. Those reports had not been produced in discovery. Using information developed by Nardello & Co., counsel reached a favorable settlement in the matter.
