Preview
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013
NYSCEF DOC. NO. 1969 RECEIVED NYSCEF: 08/04/2022
Exhibit 101
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013
NYSCEF DOC. NO. 1969 John Mallaber Confidential RECEIVED NYSCEF: 08/04/2022
03/22/2018 1
Page 1
1 CONFIDENTIAL
VIDEO DEPOSITION
2 JOHN R. MALLABER
3
4
5
6 STATE OF NEW YORK
SUPREME COURT : COUNTY OF NEW YORK
7
8 ----------------------------------------
NOMURA ASSET ACCEPTANCE CORPORATION
9 ALTERNATIVE LOAN TRUST, Series 2006-S3,
By HSBC BANK USA, NATIONAL ASSOCIATION,
10 in its capacity as Trustee pursuant to
a Pooling and Servicing Agreement,
11 dated as of July 1, 2006,
12 Plaintiff,
Action
13 - against - Index No.
652619/2012
14
NOMURA CREDIT & CAPITAL, INC.,
15
Defendant.
16 ----------------------------------------
NOMURA CREDIT & CAPITAL, INC.,
17
Third-Party Plaintiff,
18
19 - against -
20
21 WELLS FARGO BANK, N.A., and OCWEN LOAN
22 SERVICING, LLC,
23
24 Third-Party Defendants.
25 ----------------------------------------
U.S. LEGAL SUPPORT
(877) 479-2484
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013
NYSCEF DOC. NO. 1969 John Mallaber Conf idential RECEIVED NYSCEF: 08/04/2022
03/22/2018 166 to 169
Page 166 Page 168
1 A. So it appears the mrtgagor has a buyer 1 Q. Okay. So the loss to Namira would be
2 for the property. The valuation for that -- for 2 $715,000, in this instance, if it goes to short
3 their mrtgage cam back at 1.145 million. We had 3 sale and sells for 985,000.
4 a drive-by value two mnths prior at 1.7. 4 A. Yes, if Nomura's the one taking that
5 Oh, and we have a -- you know, there's a 5 loss, yes, I assume that's right. If Nanura is the
6 question because we have a foreclosure sale caning 6 ane taking that loss.
7 in a couple weeks. 7 Q. And -- well, in -- in fact, if you go
up
8 Q. Okay. You write: I prefer to decline 8 up to Mr. DePalma's email at the bottan, and now
9 the short sale and take to FC sale still. 9 I'm looking at Mr. DePalma's email from Thursday,
10 Do you see that? 10 November 16, 2006, to you, copying Mr. Marvin and
11 A. Yes. 11 Mr. McCabe, he writes at the bottom:
12 Q. What does that mean? 12 Can't justify taking a 700,000-plus loss
13 A. That instead of -- you know, we -- you 13 without to æximize the sale.
trying property
14 have an option of take -- you can take the short 14 Do you see that?
15 sale, wait for it to close, however long that is, 15 A. Yes.
16 or continue on down the path and take it in -- take 16 Q. Okay. So does that suggest to you that
17 it as a foreclosure sale. 17 lemura would have been taking that 700,000-plus
18 Q. Okay. So those are the two optials 18 loss?
19 that you're weighing, short sale and foreclosure 19 MS. SIUVALL: Objection.
20 sale, right? 20 7EE M7NESS: Yes.
21 A. Yes. 21 BY Mit BALTRD7AK:
22 Q. Okay. And so why are you asking 22 Q. Okay. So it seems to ne that in
23 Mr. DePalma about this? 23 Mr. DePalma's email of November 16, 2006, he's
24 A. I don't recall. 24 agreeing with a particular course of action that
25 Q. Okay. Is it because you're on the 25 you seem to be recamending in the email below,
Page 167 Page 169
1 fence about what was the better way to handle this 1 which is to refuse a short sale and go ahead with
2 loan and you wanted his input? 2 the foreclosure.
3 NS. SlŒVALL: Objection. 3 MS. SIUVALL: Objection.
4 THE U1NESS: That would make sense, yes. 4 7EE M7NESS: Yes.
5 BY MR. BALTRUZAK: 5 BY MR. BALTRD7AK:
6 Q. Was that relatively common, you going 6 Q. Okay. Now let's go to Mr. DePalma's
7 to Mr. DePalma to -- to ask that, or was it 7 email franNovember 16, 2006, and just into it
dig
8 relatively infrequent? 8 a little bit wre. He writes: a)uple questions,
9 MS. SlŒVALL: Objection. 9 and the next line says:
10 THE MINESS: Very infrequent. 10 EPD status, dash, I assume is nane or
11 BY MR. BALTRUZAK: 11 cancelled. I recall we got fucked by FNBN on this
12 Q. Did the fact that you went to 12 loan and all their 2005 EPDs because we didn't
13 Mr. DePalma have safething to do with the size of 13 claim them in tius.
14 this loan? 14 Do you see that?
15 A. I assume so. 15 A. I see that, yes.
16 Q. So it's a -- it's a large loan; 16 Q. Do you understand what be's
fairly referring
17 is that fair to say? 17 to there?
18 A. It's a fairly large loss. 18 A. Well, he's asking a questian about the
19 Q. Ah. It's a fairly large loss because 19 EPD status, making a stateent on what they did
20 the -- the loan is -- balance is 1.7 millial and 20 with FNBN, whowever that is.
21 the short-sale offer is 985,000; is that fair 21 Yes, that -- that -- that's what I --
only
22 to say? 22 Q. Do you recall the situation with FNBN?
23 MS. SlŒVALL: Objection. 23 A. No. I don't know who that is.
24 THE U1NESS: Yes. 24 Q. Do you understand that they were a loan
25 BY MR. BALTRUZAK: 25 originator from the context of this sentence?
U.S. LEGAL SUPPORT
(877) 479-2484
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013
NYSCEF DOC. NO. 1969 John Mallaber Confidential RECEIVED NYSCEF: 08/04/2022
03/22/2018 170 to 173
Page 170 Page 172
1 MS. STOVALL: Objection. 1 flif
í ilÉýü.he statWEáME thDEtpiÈEÈ$Ìie
2 M UTNESS: I don't know that. WJffatél
3 BY MR. BALTRUZAK: Abd in :those s in t iiigitilis die
4 Q. And then -- akay. If you go to your 4 eld, .ho did it affect itr
up
5 email to Mr. DePalma's email from A Well, you -- for Öã
responding laig
6 November 16, 2006, at 3:29. Do you see that? 6 right -- you're -- you re -- 1Joe're t !S
golkig
7 A. Yes. 7 it analler losses, but on largahl s Î
8 Q. ATld itsays: EPD failed the timing 6 may be scnething you would look at ghey
9 requireent. Q. Wtty muldnft you dô it áÎhB
10 A. Yes. id losses?
11 Q. Okay. So are you confirming what A. It's generally expensivé M3¿ff)
12 Mr. DePalma bad thought about the EPD had not been 12 pursue deficie0cies. Recovery IEf uÈUHEL^ pi•fÈd
13 claimed by Nomura in tim? ad the dollar.
14 A. I confirmed that, yes. 14 In some states, itis gfeate0th f Îûb Ï0
EDEe'
15 Q. All right. states where you t pursuA t
16 A. That's what that statement says. es ar nonexistent.
17 Q. Do you -- do you know how you would f/ Q. So in this sitmation weW 4i pg
18 have gotten that information to confirm that? M about actually tunling arcurd abdeuths Q
--
19 A. I would have had to go to the EPD M hotU er far the for the differeata reminia
20 group. 29 the mortgage that was not-recotered.
21 Q. So is it fair to say you wouldn't have $ A. Correct.
22 any EPD information as part of what you were doing; 0. Okay. So in utber 1 $4
23 it was just in a separate area and you bad to go IjlIlion-dollar loan and the loan wen006
24 ask them about this specifically? 2% Mt)dsure ard sold for 500,0 M!)@ji
25 MS. SIDVALL: Objection. }5 wo01d. heofeticallÿ f tBI Mi $801 BBÿlMÉÏ
Page 171 Page 173
1 THE UTNESS: That's correct. 1 nettgage.
2 BY MR. BALTRUZAK: 4 'A. (brijact
3 $kap ûn(ft$r*gid, teeijLD4ipt 3 NÉ S1WALL: Object±ing
i Wiestãil 5t tWh li@j0.)hp 4 $$R BALTR
nìMile the sedEehce, itdíaysh 5 .- sand the inww.hi t£ElzátksliÈ£BEfeirs
Kevin did, infact; M£titti.sifget$eink 4 khereit side sens) 4t 1 MF@gr@f
äfidtherers scule decentabilitfes & holleét.â|i 7 soe thât hattúwer Mt 65t iii $
B wrne of the loss. a & Yal cous
Do you see that? 9 Q. Okay. And what you re sayingis a lot
0 A. I do. 10 of ties that wasn't worth it, because the dollar
11 Da you know whaUilhat½ tef# l¶ttit 11 amounts weren't enough or the borrower didn't bave
3D 1. Kevin verified that the m g 12 enough assets; is that fair to say?
certain assets that le 11ble l' 13 MS. STUVALL: Objection.
we.tilay
14 because Utah is a decent state in whin]1 a diat 14 2HE USNESS: Yes.
Q. Okay. And what de jou äû[ÆM¼0t@i¶ 15 BY MR. BALTRUZAK:
a -- a decent state? 16 Q. Okay. And is it fair to you'd haVe
say
A. Some states are'Hore diffico7 E 17 to inVestigate whether the tx>rrowerhad potential
¶di anti pursue the deficiency; and.ittik - 4t¾ 18 assets before whether you can do that or
knowing
gt9 not uncaInon far banks just td leava gny ldpee5 ag 19 not?
ñENe UtL. 20 MS. STUVALL: Objection.
So: inUtah, apparently,.based orttiggy..jkfE. 21 SEE USNESS: I don't know that that's
dè°Wnt3tate to purst deficiqikie0 22 necessarily true.
. $ay. So witly-- Tritli
youly 23 BY MR. BALTRUZAK:
iÆgg¼
dj N¬ggé 2â t the ma@iner@ht regggist) 24 g. Okay. At least in this case, it seems
ppp¾àgt@gs loan iF pUtw) tÆatmpggiptljggjp 25 that Kevin ±>oke did that. He did that
U.S. LEGAL SUPPORT
(877) 479-2484
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013
NYSCEF DOC. NO. 1969 John Mallaber Conf idential RECEIVED NYSCEF: 08/04/2022
03/22/2018 174 to 177
Page 174 Page 176
1 investigation about other assets. 1 BY MR. BALTRUZAK:
2 A. Is that Kevin (boke? 2 Q. Can you turn to the attacbent, please?
3 Q. Well, I assumed it was. Or sonme 3 Do you see this attachent is -- ch, you have to
4 named Kevin did that. 4 unfold -- ifyou unfold it.
5 A. Okay. 5 Yours is all nice and big, and mine is tiny,
6 Q. Is that right? 6 but if you see the title, it says Seller
7 A. That you assued that? 7 Putback/Reprice Schedule. Do you see that?
8 Q. No, no, no. let me start over. 8 A. I do.
9 At least in this, it appears that someone 9 Q. Did you have any involveent ever in
10 named Kevin did a -- did a -- an investigatim of 10 together these schedules?
putting
11 some sort to figure out if this particular borrower 11 A. No.
12 had other assets that could be pursued in order to 12 Q. If you go to the -- you might have to
13 make up the deficiency a the mortgage that had 13 flip it over, but at the very bottom.
14 defaulted, right? 14 A. Okay.
15 MS. SIDVALL: Objection. 15 Q. At the very end of the attachment,
16 THE WITNESS: Yes. 16 under the column that says Nomura's Re-Price. It's
17 BY MR. BALTRUZAK: 17 fourth from the right.
18 Q. Okay. And just so I'm clear, this 18 A. Okay.
19 reference to Patron is a joke back to Mr. DePalma, 19 Q. Okay. See at the very bottæ, there's
20 right? 20 a -- under Nomura's Re-Price column, there's
21 A. (brrect. 21 0.86180. Do you see that?
22 Q. Okay. 22 A. I do.
23 MR. BALTRUZAK: let's mark this as the next 23 Q. Do you have any ideabar thatnumber
24 document. 24 was calculated?
25 The following was marked for Identificatim: 25 A. Absolutely not.
Page 175 Page 177
1 SERVICER BKE. 2106 document Bates numbers 1 Q. Okay. Do you have any experience,
2 NCFf_ANHESTII 01741062 through 2 Mr. Mallaber, with the HARP program?
3 NCPf_ANHESTII 01741063, 3 MS. SIUVALL: Objection.
4 attached two pages 4 7EE WI¶NESS: Limited experience with HARP.
5 BY MR. BALTRUZAK: 5 BY MR. BALTRUZAK:
6 Q. Mr. Mallaber, if you could look at 6 Q. Okay. What is HARP?
7 20 -- Servicer Exhibit 2106 and let me know when 7 A. It's a -- it's a national haneowner's
8 you're ready to talk about it. 8 assistance program.
9 A. I'm ready to talk about it. 9 Q. Sponsored by who?
10 Q. Okay. Good. And I'm to 10 A. ille-- well, the federal governmnt --
going
11 reference the email from David Klune an 11 Q. Okay.
12 December 29th, 2006, to a number of individuals, 12 A. -- right?
13 copying you. Do you see that? 13 Q. And what's your experience with it?
14 A. I do. 14 A. limited. --
Very My clients any of my
15 Q. And the subject is 09-Minding America 15 clients that I've dealt with did not receive TARP
16 Reprice Final 12-29-06.xls. Do you see that? 16 noney, T-A-R-P noney, and so I never had to use it
17 A. Yes. 17 an any of my loans, at least over the last, you
18 Q. looking at this docuænt, does this 18 know, several years, maybe.
19 refresh your recollectim at all about being 19 Q. Okay. Did you ever have any
20 involved in at -- at NCC Servicing? 20 involveent in the HARP program in the context of
any repricing
21 A. No. 21 servicing Nomura loans?
22 Q. -- --
Why do you think you were copied on 22 A. I I I don't believe I did. I
23 this document? 23 (kx1'tknow.
24 MS. SIDVALL: Objection. 24 Q. And by TARP, you are referringto the
25 THE WITNESS: I -- I have no idea. 25 Troubled Assets and Relief Program?
U. S. LEGAL SUPPORT
479- 2484
(877)
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013
NYSCEF DOC. NO. 1969 RECEIVED NYSCEF: 08/04/2022
ERRATA SHEET
NAMES OF CASES:
" Nomura Asset Acceptance Corporation Alternative Loan Series2006-S3 v.
Trust,
Nomura Credit & Capital, Inc., CaseNo. 652619/2012 (N.Y. Sup. Ct.)
" Nomura Asset Acceptance Corporation Alternative Loan Trust, Series2006-S4 v.
Nomura Credit & Capital, Inc., Case No.653390/2012 (N.Y. Sup.Ct.)
" Nomura Home Series 2006-FM2 v. Nomura Credit &
Equity Loan, Inc., Capital, Inc.,
Case No. 653783/2012 (N.Y. Sup. Ct.)
" Nomura Home Series 2007-3 v. Nomura Credit & Case
Equity Loan, inc., Capital, Inc.,
No. 651124/2013 (N.Y. Sup. Ct.)
" Nomura Home Home Loan Series 2007-2 v. Nomura
Equity Loan, Inc., Equity Trust,
Credit & Capital, Inc., Case No. 650337/2013 (N.Y. Sup. Ct.)
" Nomura Asset Acceptance Corporation Mortgage Pass-Through Series
Certificates,
2006-AF2 Trust v.Nomura Credit & Capital, Inc., CaseNo.652614/2012 (N.Y . Sup. Ct.)
" Nomura Asset Acceptance Corporation Altemative Loan Series 2007-1 v. Nomura Credit
Trust,
& Capital, Inc., Case No. 652842/2014 (N.Y. Sup. Ct.)
DATES OF DEPOSITION: March 22, 2018
NAME OF DEPONENT: John Mallaber
I wish to make the following changes:
8 8-9 Nomura Asset Acceptance Nomura Credit & Capital, Correction
Corporation Inc.
15 15-18 Correction
[delete]
26 2-3 and longer want to pay. and no longer want to pay. Transcription error
32 24 Be short sale or deed-in-lieu, are short sale or deed- Correction
They
in-lieu.
38 4-5 maximize or get contact to maximize or make contact to Transcription error
f·md out what's on. find out what's on.
going going
42 10 portfolio manager, so we'd as portfolio manager, so Transcription error
have to visit that we'd have to visit that
61 7 Yes, I just want to make sure Yes, Ijust want to make sure Correction
we-- we understand each other.
91 17-18 Just that they were in Correction
I understood that they were
default-- default--
in
94 12 Assumably, yes. Presumably, yes. Transcription error
CONFIDENTIAL
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013
NYSCEF DOC. NO. 1969 RECEIVED NYSCEF: 08/04/2022
129 5-6 Discretion's a pretty broad Discretion's a pretty broad Transcription error
stroke. word.
139 10-11 I understand the general what I understand generally what Correction
they're about-- they're about--
talking talking
158 5 about, is Nomura securities. about, Nomura securities. Correction
177 14 Very limited. I have very limited Correction
experience with it.
189 13 That were in other servicers? That were with other Transcription error
servicers?
210 12 Apparently, did an asset Apparently, he did an asset Transcription error
search at one point. search at one point.
Dated: May Ê, 2018
John Mallaber
Sworn to before me
This & day of May, 2018
c
CertifiedNotary Public
CARIE SCIABICA
Public- Stateof New York
Notary
No. 01SC4970224
Qualified inMonroe oun
Commission Expires R Cr 1P
2 uvooem
CONFIDENTIAL
Preview
FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013 NYSCEF DOC. NO. 1969 RECEIVED NYSCEF: 08/04/2022 Exhibit 101 FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013 NYSCEF DOC. NO. 1969 John Mallaber Confidential RECEIVED NYSCEF: 08/04/2022 03/22/2018 1 Page 1 1 CONFIDENTIAL VIDEO DEPOSITION 2 JOHN R. MALLABER 3 4 5 6 STATE OF NEW YORK SUPREME COURT : COUNTY OF NEW YORK 7 8 ---------------------------------------- NOMURA ASSET ACCEPTANCE CORPORATION 9 ALTERNATIVE LOAN TRUST, Series 2006-S3, By HSBC BANK USA, NATIONAL ASSOCIATION, 10 in its capacity as Trustee pursuant to a Pooling and Servicing Agreement, 11 dated as of July 1, 2006, 12 Plaintiff, Action 13 - against - Index No. 652619/2012 14 NOMURA CREDIT & CAPITAL, INC., 15 Defendant. 16 ---------------------------------------- NOMURA CREDIT & CAPITAL, INC., 17 Third-Party Plaintiff, 18 19 - against - 20 21 WELLS FARGO BANK, N.A., and OCWEN LOAN 22 SERVICING, LLC, 23 24 Third-Party Defendants. 25 ---------------------------------------- U.S. LEGAL SUPPORT (877) 479-2484 FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013 NYSCEF DOC. NO. 1969 John Mallaber Conf idential RECEIVED NYSCEF: 08/04/2022 03/22/2018 166 to 169 Page 166 Page 168 1 A. So it appears the mrtgagor has a buyer 1 Q. Okay. So the loss to Namira would be 2 for the property. The valuation for that -- for 2 $715,000, in this instance, if it goes to short 3 their mrtgage cam back at 1.145 million. We had 3 sale and sells for 985,000. 4 a drive-by value two mnths prior at 1.7. 4 A. Yes, if Nomura's the one taking that 5 Oh, and we have a -- you know, there's a 5 loss, yes, I assume that's right. If Nanura is the 6 question because we have a foreclosure sale caning 6 ane taking that loss. 7 in a couple weeks. 7 Q. And -- well, in -- in fact, if you go up 8 Q. Okay. You write: I prefer to decline 8 up to Mr. DePalma's email at the bottan, and now 9 the short sale and take to FC sale still. 9 I'm looking at Mr. DePalma's email from Thursday, 10 Do you see that? 10 November 16, 2006, to you, copying Mr. Marvin and 11 A. Yes. 11 Mr. McCabe, he writes at the bottom: 12 Q. What does that mean? 12 Can't justify taking a 700,000-plus loss 13 A. That instead of -- you know, we -- you 13 without to æximize the sale. trying property 14 have an option of take -- you can take the short 14 Do you see that? 15 sale, wait for it to close, however long that is, 15 A. Yes. 16 or continue on down the path and take it in -- take 16 Q. Okay. So does that suggest to you that 17 it as a foreclosure sale. 17 lemura would have been taking that 700,000-plus 18 Q. Okay. So those are the two optials 18 loss? 19 that you're weighing, short sale and foreclosure 19 MS. SIUVALL: Objection. 20 sale, right? 20 7EE M7NESS: Yes. 21 A. Yes. 21 BY Mit BALTRD7AK: 22 Q. Okay. And so why are you asking 22 Q. Okay. So it seems to ne that in 23 Mr. DePalma about this? 23 Mr. DePalma's email of November 16, 2006, he's 24 A. I don't recall. 24 agreeing with a particular course of action that 25 Q. Okay. Is it because you're on the 25 you seem to be recamending in the email below, Page 167 Page 169 1 fence about what was the better way to handle this 1 which is to refuse a short sale and go ahead with 2 loan and you wanted his input? 2 the foreclosure. 3 NS. SlŒVALL: Objection. 3 MS. SIUVALL: Objection. 4 THE U1NESS: That would make sense, yes. 4 7EE M7NESS: Yes. 5 BY MR. BALTRUZAK: 5 BY MR. BALTRD7AK: 6 Q. Was that relatively common, you going 6 Q. Okay. Now let's go to Mr. DePalma's 7 to Mr. DePalma to -- to ask that, or was it 7 email franNovember 16, 2006, and just into it dig 8 relatively infrequent? 8 a little bit wre. He writes: a)uple questions, 9 MS. SlŒVALL: Objection. 9 and the next line says: 10 THE MINESS: Very infrequent. 10 EPD status, dash, I assume is nane or 11 BY MR. BALTRUZAK: 11 cancelled. I recall we got fucked by FNBN on this 12 Q. Did the fact that you went to 12 loan and all their 2005 EPDs because we didn't 13 Mr. DePalma have safething to do with the size of 13 claim them in tius. 14 this loan? 14 Do you see that? 15 A. I assume so. 15 A. I see that, yes. 16 Q. So it's a -- it's a large loan; 16 Q. Do you understand what be's fairly referring 17 is that fair to say? 17 to there? 18 A. It's a fairly large loss. 18 A. Well, he's asking a questian about the 19 Q. Ah. It's a fairly large loss because 19 EPD status, making a stateent on what they did 20 the -- the loan is -- balance is 1.7 millial and 20 with FNBN, whowever that is. 21 the short-sale offer is 985,000; is that fair 21 Yes, that -- that -- that's what I -- only 22 to say? 22 Q. Do you recall the situation with FNBN? 23 MS. SlŒVALL: Objection. 23 A. No. I don't know who that is. 24 THE U1NESS: Yes. 24 Q. Do you understand that they were a loan 25 BY MR. BALTRUZAK: 25 originator from the context of this sentence? U.S. LEGAL SUPPORT (877) 479-2484 FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013 NYSCEF DOC. NO. 1969 John Mallaber Confidential RECEIVED NYSCEF: 08/04/2022 03/22/2018 170 to 173 Page 170 Page 172 1 MS. STOVALL: Objection. 1 flif í ilÉýü.he statWEáME thDEtpiÈEÈ$Ìie 2 M UTNESS: I don't know that. WJffatél 3 BY MR. BALTRUZAK: Abd in :those s in t iiigitilis die 4 Q. And then -- akay. If you go to your 4 eld, .ho did it affect itr up 5 email to Mr. DePalma's email from A Well, you -- for Öã responding laig 6 November 16, 2006, at 3:29. Do you see that? 6 right -- you're -- you re -- 1Joe're t !S golkig 7 A. Yes. 7 it analler losses, but on largahl s Î 8 Q. ATld itsays: EPD failed the timing 6 may be scnething you would look at ghey 9 requireent. Q. Wtty muldnft you dô it áÎhB 10 A. Yes. id losses? 11 Q. Okay. So are you confirming what A. It's generally expensivé M3¿ff) 12 Mr. DePalma bad thought about the EPD had not been 12 pursue deficie0cies. Recovery IEf uÈUHEL^ pi•fÈd 13 claimed by Nomura in tim? ad the dollar. 14 A. I confirmed that, yes. 14 In some states, itis gfeate0th f Îûb Ï0 EDEe' 15 Q. All right. states where you t pursuA t 16 A. That's what that statement says. es ar nonexistent. 17 Q. Do you -- do you know how you would f/ Q. So in this sitmation weW 4i pg 18 have gotten that information to confirm that? M about actually tunling arcurd abdeuths Q -- 19 A. I would have had to go to the EPD M hotU er far the for the differeata reminia 20 group. 29 the mortgage that was not-recotered. 21 Q. So is it fair to say you wouldn't have $ A. Correct. 22 any EPD information as part of what you were doing; 0. Okay. So in utber 1 $4 23 it was just in a separate area and you bad to go IjlIlion-dollar loan and the loan wen006 24 ask them about this specifically? 2% Mt)dsure ard sold for 500,0 M!)@ji 25 MS. SIDVALL: Objection. }5 wo01d. heofeticallÿ f tBI Mi $801 BBÿlMÉÏ Page 171 Page 173 1 THE UTNESS: That's correct. 1 nettgage. 2 BY MR. BALTRUZAK: 4 'A. (brijact 3 $kap ûn(ft$r*gid, teeijLD4ipt 3 NÉ S1WALL: Object±ing i Wiestãil 5t tWh li@j0.)hp 4 $$R BALTR nìMile the sedEehce, itdíaysh 5 .- sand the inww.hi t£ElzátksliÈ£BEfeirs Kevin did, infact; M£titti.sifget$eink 4 khereit side sens) 4t 1 MF@gr@f äfidtherers scule decentabilitfes & holleét.â|i 7 soe thât hattúwer Mt 65t iii $ B wrne of the loss. a & Yal cous Do you see that? 9 Q. Okay. And what you re sayingis a lot 0 A. I do. 10 of ties that wasn't worth it, because the dollar 11 Da you know whaUilhat½ tef# l¶ttit 11 amounts weren't enough or the borrower didn't bave 3D 1. Kevin verified that the m g 12 enough assets; is that fair to say? certain assets that le 11ble l' 13 MS. STUVALL: Objection. we.tilay 14 because Utah is a decent state in whin]1 a diat 14 2HE USNESS: Yes. Q. Okay. And what de jou äû[ÆM¼0t@i¶ 15 BY MR. BALTRUZAK: a -- a decent state? 16 Q. Okay. And is it fair to you'd haVe say A. Some states are'Hore diffico7 E 17 to inVestigate whether the tx>rrowerhad potential ¶di anti pursue the deficiency; and.ittik - 4t¾ 18 assets before whether you can do that or knowing gt9 not uncaInon far banks just td leava gny ldpee5 ag 19 not? ñENe UtL. 20 MS. STUVALL: Objection. So: inUtah, apparently,.based orttiggy..jkfE. 21 SEE USNESS: I don't know that that's dè°Wnt3tate to purst deficiqikie0 22 necessarily true. . $ay. So witly-- Tritli youly 23 BY MR. BALTRUZAK: iÆgg¼ dj N¬ggé 2â t the ma@iner@ht regggist) 24 g. Okay. At least in this case, it seems ppp¾àgt@gs loan iF pUtw) tÆatmpggiptljggjp 25 that Kevin ±>oke did that. He did that U.S. LEGAL SUPPORT (877) 479-2484 FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013 NYSCEF DOC. NO. 1969 John Mallaber Conf idential RECEIVED NYSCEF: 08/04/2022 03/22/2018 174 to 177 Page 174 Page 176 1 investigation about other assets. 1 BY MR. BALTRUZAK: 2 A. Is that Kevin (boke? 2 Q. Can you turn to the attacbent, please? 3 Q. Well, I assumed it was. Or sonme 3 Do you see this attachent is -- ch, you have to 4 named Kevin did that. 4 unfold -- ifyou unfold it. 5 A. Okay. 5 Yours is all nice and big, and mine is tiny, 6 Q. Is that right? 6 but if you see the title, it says Seller 7 A. That you assued that? 7 Putback/Reprice Schedule. Do you see that? 8 Q. No, no, no. let me start over. 8 A. I do. 9 At least in this, it appears that someone 9 Q. Did you have any involveent ever in 10 named Kevin did a -- did a -- an investigatim of 10 together these schedules? putting 11 some sort to figure out if this particular borrower 11 A. No. 12 had other assets that could be pursued in order to 12 Q. If you go to the -- you might have to 13 make up the deficiency a the mortgage that had 13 flip it over, but at the very bottom. 14 defaulted, right? 14 A. Okay. 15 MS. SIDVALL: Objection. 15 Q. At the very end of the attachment, 16 THE WITNESS: Yes. 16 under the column that says Nomura's Re-Price. It's 17 BY MR. BALTRUZAK: 17 fourth from the right. 18 Q. Okay. And just so I'm clear, this 18 A. Okay. 19 reference to Patron is a joke back to Mr. DePalma, 19 Q. Okay. See at the very bottæ, there's 20 right? 20 a -- under Nomura's Re-Price column, there's 21 A. (brrect. 21 0.86180. Do you see that? 22 Q. Okay. 22 A. I do. 23 MR. BALTRUZAK: let's mark this as the next 23 Q. Do you have any ideabar thatnumber 24 document. 24 was calculated? 25 The following was marked for Identificatim: 25 A. Absolutely not. Page 175 Page 177 1 SERVICER BKE. 2106 document Bates numbers 1 Q. Okay. Do you have any experience, 2 NCFf_ANHESTII 01741062 through 2 Mr. Mallaber, with the HARP program? 3 NCPf_ANHESTII 01741063, 3 MS. SIUVALL: Objection. 4 attached two pages 4 7EE WI¶NESS: Limited experience with HARP. 5 BY MR. BALTRUZAK: 5 BY MR. BALTRUZAK: 6 Q. Mr. Mallaber, if you could look at 6 Q. Okay. What is HARP? 7 20 -- Servicer Exhibit 2106 and let me know when 7 A. It's a -- it's a national haneowner's 8 you're ready to talk about it. 8 assistance program. 9 A. I'm ready to talk about it. 9 Q. Sponsored by who? 10 Q. Okay. Good. And I'm to 10 A. ille-- well, the federal governmnt -- going 11 reference the email from David Klune an 11 Q. Okay. 12 December 29th, 2006, to a number of individuals, 12 A. -- right? 13 copying you. Do you see that? 13 Q. And what's your experience with it? 14 A. I do. 14 A. limited. -- Very My clients any of my 15 Q. And the subject is 09-Minding America 15 clients that I've dealt with did not receive TARP 16 Reprice Final 12-29-06.xls. Do you see that? 16 noney, T-A-R-P noney, and so I never had to use it 17 A. Yes. 17 an any of my loans, at least over the last, you 18 Q. looking at this docuænt, does this 18 know, several years, maybe. 19 refresh your recollectim at all about being 19 Q. Okay. Did you ever have any 20 involved in at -- at NCC Servicing? 20 involveent in the HARP program in the context of any repricing 21 A. No. 21 servicing Nomura loans? 22 Q. -- -- Why do you think you were copied on 22 A. I I I don't believe I did. I 23 this document? 23 (kx1'tknow. 24 MS. SIDVALL: Objection. 24 Q. And by TARP, you are referringto the 25 THE WITNESS: I -- I have no idea. 25 Troubled Assets and Relief Program? U. S. LEGAL SUPPORT 479- 2484 (877) FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013 NYSCEF DOC. NO. 1969 RECEIVED NYSCEF: 08/04/2022 ERRATA SHEET NAMES OF CASES: " Nomura Asset Acceptance Corporation Alternative Loan Series2006-S3 v. Trust, Nomura Credit & Capital, Inc., CaseNo. 652619/2012 (N.Y. Sup. Ct.) " Nomura Asset Acceptance Corporation Alternative Loan Trust, Series2006-S4 v. Nomura Credit & Capital, Inc., Case No.653390/2012 (N.Y. Sup.Ct.) " Nomura Home Series 2006-FM2 v. Nomura Credit & Equity Loan, Inc., Capital, Inc., Case No. 653783/2012 (N.Y. Sup. Ct.) " Nomura Home Series 2007-3 v. Nomura Credit & Case Equity Loan, inc., Capital, Inc., No. 651124/2013 (N.Y. Sup. Ct.) " Nomura Home Home Loan Series 2007-2 v. Nomura Equity Loan, Inc., Equity Trust, Credit & Capital, Inc., Case No. 650337/2013 (N.Y. Sup. Ct.) " Nomura Asset Acceptance Corporation Mortgage Pass-Through Series Certificates, 2006-AF2 Trust v.Nomura Credit & Capital, Inc., CaseNo.652614/2012 (N.Y . Sup. Ct.) " Nomura Asset Acceptance Corporation Altemative Loan Series 2007-1 v. Nomura Credit Trust, & Capital, Inc., Case No. 652842/2014 (N.Y. Sup. Ct.) DATES OF DEPOSITION: March 22, 2018 NAME OF DEPONENT: John Mallaber I wish to make the following changes: 8 8-9 Nomura Asset Acceptance Nomura Credit & Capital, Correction Corporation Inc. 15 15-18 Correction [delete] 26 2-3 and longer want to pay. and no longer want to pay. Transcription error 32 24 Be short sale or deed-in-lieu, are short sale or deed- Correction They in-lieu. 38 4-5 maximize or get contact to maximize or make contact to Transcription error f·md out what's on. find out what's on. going going 42 10 portfolio manager, so we'd as portfolio manager, so Transcription error have to visit that we'd have to visit that 61 7 Yes, I just want to make sure Yes, Ijust want to make sure Correction we-- we understand each other. 91 17-18 Just that they were in Correction I understood that they were default-- default-- in 94 12 Assumably, yes. Presumably, yes. Transcription error CONFIDENTIAL FILED: NEW YORK COUNTY CLERK 08/04/2022 05:10 PM INDEX NO. 650337/2013 NYSCEF DOC. NO. 1969 RECEIVED NYSCEF: 08/04/2022 129 5-6 Discretion's a pretty broad Discretion's a pretty broad Transcription error stroke. word. 139 10-11 I understand the general what I understand generally what Correction they're about-- they're about-- talking talking 158 5 about, is Nomura securities. about, Nomura securities. Correction 177 14 Very limited. I have very limited Correction experience with it. 189 13 That were in other servicers? That were with other Transcription error servicers? 210 12 Apparently, did an asset Apparently, he did an asset Transcription error search at one point. search at one point. Dated: May Ê, 2018 John Mallaber Sworn to before me This & day of May, 2018 c CertifiedNotary Public CARIE SCIABICA Public- Stateof New York Notary No. 01SC4970224 Qualified inMonroe oun Commission Expires R Cr 1P 2 uvooem CONFIDENTIAL