Deloitte and Touche Contract With JPMC Re Occ Consent Order Fulfillment -Foreclosure Review

8/3/2019 Deloitte and Touche Contract With JPMC Re Occ Consent Order Fulfillment -Foreclosure Review

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.-sank, National AssociationNY 10017

Re: Assistance in the FOlreclosulOffice of

Dear_Role

under termswill be 0>1.""""""" retained to advise D&T

related to the Consent without Iirnit",1",,,,,.,

J PMC-EL-000


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2September 19 , 2011

the formats andthe retention of ourunderstand that 0&T

VII of

and effectivehereunder andconnection with the 0&T is alsoin any other areas that may be identified

M,.mOOrofO",lorll" Toocht; TonmatsJl l.mllecj

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Conflicts

""'''''01.'' for the Conflicts c:""",,"rh we have not undertakenParties. r:n,rnrUU"1\1 Counsel agrees that inform us ......" , r n rd l "this matter or of name for those whose names were nrClVICllen

conflict come to the ,.,.'o> ....T."' ....conflict toaction needs to be taken.

",n1titi".(:! have many clients and we arethe of ourac(:.:e[)telj. Should any nr\1Ionti" ,,1.......,.,' .......'+1" disclose the nature of

and will determine what

Foreclosure ReviewD&Tas selJararecontractors or~ n I T l n i l l . < l I ' " I t ' P with other

ur",m


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3. of the Foreclosure Review shall be to the T Y U ' ' ' \ n ' U l r , ofl"tnrol:.'e:mi


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September 19, 20115

O:;;UI'O:;;;:' for documentsor otherthisOther ItemsThis Schedule is

as a witness OJ' otherwise in any1..:n't;::,T'....n those unrelated to the matters that are

no'/"tn.' .....-.


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D&T understands that o O l l e c t t v E ~ s for this nn'::... . , ' I " n ' ' ' n ~ are as follows:.. Perform an assessment foreclosure actions individual borrowers withrg'",.,1'.,,, to various constituencies

Privileged and ConfidentialSubject Privilege Doctrine Deloitle Touche Tohmatsl1 l imitedAttorney Work Product

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..

Documentation

the .-Io'l/ol,nn ..,,,,,,,' of theof the c.:nt>l'ifi" oOOlJla1:iorls

. r n < U ' m " , ~ . r , n of the information C " " ~ ' f " " " ' " and

consists of a team leaderThe

.. File nrr....,A,nlllA status

Items

P r i v i l e o , ~ d and Con,fid""Ii,,1Subject to the Attomey-Clienl PrivilegeProduct

of the foreclosure file

.ir",,,,,,.,,ntc- of the Consent Order as int''''l''rII''AirAnon of

and data

a s : s e ~ ~ s e ~ d in the review H)

7JPMC-EL-000


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will be < > " . - . , . , . ~ , . , . "

Foreclosure file review will be ciIV'lclE!Cl into two ",,,,,,,,m,ontc" issue identification andIssue consist of execution file +",,+i..,r 1 n ......, . . . ."rf.result of each step of

tn '" ' I .n , , , , and then refer the me to the team

to issueas to the nature of the

discussed with theShould the file

EXDeictefti Duration: to exceed 348loans to be assessed based uponnot to exceed 439borrower outreach nY',.'n"''' .....

Date: Not to exceedassessed statistical ",en. . . ,n li"" " r r , ....on .lo,'"",nh" . . 31, 201 from pnm,,,.,,,,rn,,,,'>t

outreach program.

Privileged "rid Confidenti,,1Ihe A l ! o , m " 1 ! ~ f :"",,,1Product

letter

MemOOfofD e l ( l l ~ e TOiler., Tohmatsu

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Our nn:"'''IPnr..:",.., team structure for the ...."'",.,.,.",.,.,'" of the Services is outlined below:IndependentCounsel

King 11 Spalding LLP

as thecoordinate all net;essaryour satisfaction.

Pr'vireged and ConfidenllalSubject to the Attomey,Client PrivilegeAttorney Work PrOOllct

Deloitle lit Touche LLPEngagement Leader

Par_r,o"loitt.,& Tooche

LI.P -irector, DelolHe.&TOilei'll>LlI ' -lnane"'lACllllaory COfiSllltlngLLI'Services l l l '.." , . , nnndlhio for overall p rO j e c t . willand other resou rces to deliver the project to

MGmOOrol

9JPMC-EL-000


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Estimation of hours for Foreclosure HA'\/IA1W

1SDK Approximates 30,000Bankruptcy 100"10

ComplaintsSlate 8, Federal 15K 10,500referrals

. Borrower 100%Outreach. Remainder 20K Stratified 1,000sample

Quality

Total Hours

Staffing for Foreclosure Review

Level Total number of stallPartnerlPrincipall Director

Manager 117

Consultant 480

Total

Privileged and ConfidentialSubject 10 the Attorney-Client Privilege DoctrineAIIomey Work Product

1015

75,000 4

14,500 10-15

80,000 0.5qualify

10review

1,000 10-15

Hours Total number of staff11

183

730

Low assumes 70"/"review, high aSSLlmes95% review,remainder covered withinbase 10% response rateborrower outreach 0.5 01 aliresponses

Hours

Deloitle Tcuche Tohma!SIJ l imited

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Note: have relied on

Privileged and Confidential

nn,on,on.rio'rlt Counsel matters"residential foreclosure actionsscope of the Foreclosure Review areat the time

aC1DelerEltiOin of a mr.rir.::ln:.'"cn , r i i n ,n at the 1' r""no1'or

the review andstate orand also does not

l 'n,nnlli", .-. , . .o with state andwith the loanIAJI"l,,,,tl"lor the ."",1,\11,..'",

"'1-11"""'"'''.1''''' and testable state law foreclosurenni",n,on,rI",l,\t Counsel are accurate.

We will reviewincludinglaw matrix

Subject AllomeyClient Privilege DoctrineAttorney Work

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~ ~ . ~ ' ~ .." ' ...... 'n ....' n c... fees orandhas occurred if a

nOfn",llti"." are limited to those that were assessed

a financialwe assume that the inobligatiorls to the mortgageeno,,,,,,,,,,",,-,, is under clauses

Privileged and ConfidentialSubject AttorneyClient Privilege DoctrineAltomey Work Product

loan. We also assume that theharm to the mort(.l'3.QEleinclude that were recovered thethat exceed the allowable amounts in theschedule and otherwise would be determinedmClrtclaQ!ee or owner under the aplJllc:aole

asof the

that had not, 2011! the ;:)U,JO",' '-!U'"",

TOllche TQhmalsu limited

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Privileged and Conlider\!ial

A V I I ( ' I t : : l ' n ~ p . in a loan file that a noticewe assume that such notice wasthere is evidence of an order or

.n"'n"""nt !:>11'''''"lnn a foreclosure we assume; that the contents of the ,'nIFn",,,,,,,. were sufficient and that service wasproper.that summary were


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theto the scope of the SCRAthe Consent Order:

is measured frome l i ~ ~ i b i l i t y end date.

and sale are the only for whether thetoreclOSILlre a violation. our review will also ascertain that Firstoccurred the foreclosure p r c > t e ( ~ t l o l n

rn", 7 without more, a does not

nu\n""nu of the borrower or of the estate or its would have to seek to 'n'u.,n n"" . ~ ~ n l ' 1 ' ! < 1 1 as a For the purposes of whether the automatic in was we will not consider any servicer that takes to First

PrillHeged and ConiidentialSubjecllo the Attorney-Client Privilege Doctrine 1J"'qflj" To"l'he Tohmatsu limitedAttorney Product

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Privile!;led

I'nn


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Privileged and f:"nfirl",oli,,1Subject the Attorney-Clie nt PrivilegeAttorney Work Product

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,.,h""",1'."", of the borrowernn,'rr\\A/Ct'r


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Consider and nn!!,frU'_rlrn1111"a combination of consumer groups and umbrella n r H U ' 1 i i 7 ~ \ t i / " 1 , n < : : the distribution in the Foreclosure Review

Return Mail Process the third Claim Intakewill include:

A dedicated P,O. Box for !!",,",''''I/,nn returned""ff,,,,,f,,r,,, means such as the National

Irlo,nt.,,,, the current address.hrurrrn,.,,,,r where been returned. This will be "'0,,",,,,'......,,,,

is to make sure that all reasonable " , t t ,o lT lnt" ,to contact the borrower a

.. . i, ......l' i ....... , . . ........t"" .... t- The content of the communication to the borrowers will be r i o , ~ i n . , o r 1 tobut not to,Provides the borrower an overview of the andand disclosures and disclaimers.

inf,"\rn'""tiru",' J;:vnl""inC' what information is from borrowers toFor direct mail and onlinene


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3,

II Intake Form: The form will nl'rMlni&> nr&,.rI&>t""I'ITtint,tI set of qUi9stionis to be answered and C U ~ C " ' i , ' C ' 1 . . j to the hn,'rn,JIIPI'

nature of issueDocumentation and StcuaJrlPcbe per the (':"',rnr,,,,"',,,'borrower.

"u"u,,...,,,,,, foreclosure actionsor test for all nrem,,,,,.u,,,,

in a database that will"I(nrnAII,onl"lt:>rnol"lt will be to the

crlmlnAI! 'n, If the nature of the does not

the reviewthe borrower is needed. As

such contact will be handledthere could bewill conduct the

center "'''''''''F''' to

tnr"":=I,rriinnJrtr:=ln


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to the borrower to obtain additional information or documentation.,...rllrrlrl,I!,;,nte considered the to determine

will make recommendations or "nnn" , .nH will consider D&T's observations

The final remediation rests with theThe borrower outreach process may be ~ r r l l ' 1 f ' I r 1 & > , r I from t lml '1-T, ,_f I ImA the acc ordue to from l'nt'lnO='I'::::.finn " ' ' ' ' ' ' ' "....' ' ' " ' ' n n , o r ~ . 1 ' m , n under the

orders.Prioritization: to determine go into

measures.

use itsand manage individual

Pm,iI,,,,,"r! arid ConfidentialSubject to Privilege Dol::lrineWOIk

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The


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status for ....nlrn."I" ' i lnt ' " determined t - ' f ( } C e ~ S S l l n o status- "Review not is l'iAit""'Tlir,,,,,,1'i In-SeIJOE". but has not started

"Review in nrr,f 'o",",y :ornnlA l I1t is .nrlor,nn;;,",,,, review- "Review

r-n.nn,


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Aurora Loan Sen>ire;Banko!America

'Beru!lirialOw;e

CitibankCitiFimIncial

Privileged ConffdentialSubject 10 lhe Allomey-Client PrivilegeProduct

arcE'OtetBankJ E ~ H o m e

meHSBC

PNC

:ElY

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Prillileged and ConfidentialSubject IQ the Attorney-Clienl PrivilegeAttorney Work Product

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Privileged and ConfidentialSubject the Attorney-Client Privilege Tonmatsu UmiteclAttorney Work Product

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Privileged and Confidential10 the Attorney-Client Privilege DoctrineWork Product

Member!)!

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Privileged ConfidentialSubject to the Privilege DQctrine Delaine T ooche T or.matsu limitedAttorney Work Product

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Privileged and ConlidentialSubject Atlorney-Client Privilege DoctrineAltorney Product

Member "I

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Privileged Confidenlial Memooro!Subject to the Allomey-Clinni Privilege Doctrine De!"i!!eToue"" T"hmatsLiAttorney Work Product

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Privileged and ConfidentialSubjecl to the Allomay-Clien! PrivilegeAllomey Work

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stallisM,illV valid it is necessary to l"IO\/o,c\n" ' n ~ . I " < > l a of loans within the seepe of the Foreclosure 1-10""0'"''and processes and

;onmfl'olli9rs Handbook 'n"',.. ...."

Handbook was

include:

1

such as'-1'JI""",,"::'" state

Determine the total ot loans at issue and means locate and enumerate them.Define the statistics of interest. Based on our currentm


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;:'Ol:lCIfIC considerations

Granular OO(,,,,,,;>,,(,,,t,,.,, ... of the 2009-20101"1"1"" ....1,-,,,,,Review of of the Consent Order

mU'lm,l"'Inn that certain ",,,,,..,mort',,,

on_"""" , " reviews that to be constructed to ,no,nTnrt '.-.."'...."fll'


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reconcile the l 'nrnnl lPt lP lJUj" .... ,QU,J.

the m f 1 ' ~ n v < : : : balance whlch includes balance total dollars and total loancount for the n'::.."n"l . , ended December 31. December 31, and December 31, 2010.For each of the obtain the nnrrr ,-Ul" that includes nnir t t r , I ' .n h",nlr_.n,A,lno,,'"i or thirddata.

10 audited source documents/financial statements.~ e a r the total dollars to theThe has been r i g l . " " , . r1_ the to include

POIPUl,amlUS as """fI""''''Reconcilethe_ to the " ........"'",;,1'''' 1'"''-'1'"' ...""" . ' - ' . on a loan-level flC-"iOElntltlCIUIC'1l basis.

follow up with n"grn'::>Jnt to obtain an with....... '>nt':.+i"..... to reconcile.

Random c ~ , n n j j a e ' . J e t ' ~ ~ " f l f ' Q aelmOQfcUJl"1llCS of "",,,.,..,.-.110 "",.nOT,n", to"" ,...nnll", frame to determine whether the "",,,.,.,nll,,, "':;0''''''''''''' frame.

width of the desired for the universe error rate. For thisbeen selected.R e l i a l ) i l i l t y / ~ C : o l l 1 f i l c i e r l c e Level: The likelihood that universe error

will be within a cn


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been to achieve a result fo r the criticalmet, yes or no. The formula utilized to calculate size::; r e l i ~ ~ b i l i I Y factor/precisilon

of ;;.; 3.0/0.02 :; 150

will be I t " '1ont lf ' lct" ' I random numbers the frame to thefor each article.

" ' T f , r t " "OU firmns:>,nn,'",nhir distlibution

,""0,.... ,,110 size or conduct a dive actual error rate exceeds the un''''''''nI errorratethe " " "Tln l lo frame "''''"" .....' ' ' ' ' tt'i .... n waterfall as follows:

A f f , n l " n ' ~ \ I la w Firm: Attn".r""",.;;: ranked volumeFocus areas:

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The foreclosure 1./ l-liI-lUJlau'u.on loans loan

JPMC

loans

Prillileged Confidentialthe Atlomej/-Client Privilege DoqrineProduct

WAMU31

loans

will

1loans

35JPMC-EL-000


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.. Foreclosure law firm: will be foreclosure''''IT.''''''''''''' law and

Al l Heritagl;lS EMCOnly CHASE WaMuOniyLoan 'r"of Loan %of Loan "I. of Loan % of

Attorney Count porti'olio Count Count portfolio Countfirm 85938 0.37% 5058 5.19% 8011 0.97% lfirm :2 46549 5.6Wo 14177 14.55'1'1' 2 O.OO"/\)Firm 3 39801 5863 6.02% 25394 3.00"/Firm 4 34404 4.15% 3357 3.45% 23059 2.78%Firm 5 26969 3.25% 4421 4.54% 6282 0.76"/0Film 6 25744 3.11% 512 0.53% 2.45"/0 4878Firm 7 18152 2.19"/" 80 ' 0.82"1" 13570 1.64% I 3781 1 _ 2 3 ~ / < ? Firm 8 18060 2. 8"/" 751 0.77% 9352 7957 2.59%Firm 9 11814 2.15% 829 0,85% 11644Firm 10 17554 2.12% 0 0.00% 16994 O.H!%

Within be ranked volume of from to andinto theof will be treated as a distinct

firms will be stratified in 10% IncrementsFirms with fewer than 600 loans: If any of these proiceliseCl fewer than 600 then2/", of loans will be with a of one loan per firm.

For each of the above outlinedof ournote: In theof firmsand do not reflect

Privileged arrd r:on.flo"!,,!i,,,1Subject 10 A t t o f r u ~ y - C l l e n t Plilillege

that illustrates the

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EMCloanAttorn CountFirm 2 14177Firm 3 5863Firm 1 5058Firm 5 4421Firm 48 3773

33573010

31 296858955522

WAMU loanCount7286932370

Firm 5 16266Firm 12 10067Firm 3 8544Firm 11 574Firm 10 560Firm 305 2Firm 117 1

Privileged and ConfidentialSubject to the Attorney-Client Privilege DoctrineAttorney Work Product

150 1/3 of firms15015054

150 48 10% increments4812

Firms with lessthan 600 loans

150 10% Increments1111 Firms with less1 than 600 loans1

Ivlemoor of

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Chase LoanAttorney CountFirm 3 25394Firm 4 23059Firm 6 20354Firm 10 16994Firm 7 13570Firm 11 12951Firm 15 12581Firm 13 12119Firm 9 11844Firm 17 9454Firm 8 9352Firm 22 8382Firm 1 8011Firm 20 7671Firm 14 7562Firm 29 7087Firm 18 6969Firm 21 6896Firm 28 6497Firm 5 6282Firm 27 6268Firm 23 6188Firm 19 6086Firm 24 5668

530351975009

Firm 32 4546Firm 44 4255Firm 26 4148Firm 39 4041Firm 45 3768Firm 49 3635Firm 52 3564Firm 30 3493Firm 36 3438Firm 56 2862Firm 58 2786Firm 57 2718Firm 63 2630Firm 61 2625Firm 60 2533Firm 66 2337Firm 67 2305Firm 25 2201

Privileged and ConfidentialSubject to the Altom

Initial Final, Sample150 150150 150150 150150 150150 150150 150150 150150 150150 150150 150150 150150 150150 150150 150 1/3 of firms150 150150 150150 150150 150150 150150 150150 150150 150

I 150 150150 150150 150150 50150

9877776I 6

150 65 10% Increments55555444

Meml:lerof Limited

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111

.. Focus Areas: The,,,,,.,.,,,,,,,.'" additive to will be for focus areas, with thewill on the issues or ",;r.nitil"'"""t a e f l { ; l e r l C I E ~ S torecloslure firms. The co,1"""',,,. will be increased to thefor the foreclosure full of the loansItems for consideration include:

a'-'JI""""''''''-I if any of the below behaviors are associated with a foreclosureto the lesser of 50 or to the loan forincllcfltOlfS include:

of ourmodification or""!>Innl' , , , will be increased.

Fee assessment /"P\m:' lmir l inlnidentifiedbe a s s ~ e s E l l n g

rescission

the inclusion of these considerations

"Tf\,..,


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as in total Foreclosuredistribution: Will mirrorthe states as found total Foreclosure Reviewwith a minimum of loans per state

ntii::ip.Elte that the consideration these areas of will increase the ",,,,,m ...',,,, size anloans.


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The QI- ' I "UI - ,aUI I ' " I -"Jj .JU'QLI1UI S I J b j E ~ c t ! d to the 100%.100% cases

100"/" of foreclosure cases rot''''I''FI:.rI100%, of claims and

C

The nrr,r,olri.are

Privileged and ConfidentialAttorney-Crienl PrivilegeProduct

Hl'! 'III l '! liM includes:or foreclOsed in 2009-2010

The source for these cases is theand databaseto borrower described in

to account for

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...",,,,,,,,,.r! owner of a Note "''-',_'-',,,,,, and/orTrust or final

2. or Notice of ~ ~ ' ~ ' ~ " . T from the3.

name of the matches the name of the the continue to

4. state lawto be recorded based on the state taw matrix n .., . ."flr.c,",to 6. If continue to 5.

5. Is there documentation to Trust from thelender the nlz: : , .n t , t t f l lon( ' l " ,..?a.

i.

b. from the ,... .. , , ~ I t " " ' ~ , involved in the chain of

6. Record the results of 1-5.

AllolmevCliEni Privilege Doctrine

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loans that havepro1tected and to I n " " n ~ l 1 r \ J & Bockius and the

of the process toprc)te(::ticln and who fall within the scope of Article

andloan

2. I.f the SCRA indicator has not been "'","/


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3. or sale date HERA end date. If the date of the,ti...,.m,,,nt or the date of the foreclosure sale occurredoccurred and will be to the loansremediation. If the date or torecllosUiviolationRecord

the HERA endcounselsale is after the HERA end

Ot'ie(:ti\jre 4: if there were in the t o n ~ c l ( ) s U l process takenthan a sale ori f t h ~ for SeRAdates in t h ~ a n d them source documentsand correspondence. located in relevant loan l ' :Pl rv l ( , lnn n .. ' ~ n r ' o n - " : , be excluded from""0""'..11'':'''':'-' date for 2--4. If

2.

3.occurreddate of the foreclosure4.

4. Record results of 1-3.U",,!!>..,.1IIUO 5: Assess the

Database will beactions occurred and will test for:

P""",,,,,,rl and C a ~ l f f d e n t i a l Subject to the Attomey-Clienl Privilege DoctrineAttorney Product

database for inclusion within thevia a data

we IfiveS[llgalle and

whether any

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1"'I.. . i"',....1I'''.,. 6: Determine whether the borrower was elilJibl!eunderSCRA.whether the borrower submitted notice and a

If notice and a

occurred7: Determine whether the h { ' l l r f r . l i l l t " " i r j " " I " r \ J ! i ~ " ' m " " m ~ 1 " ' r

mD'OSCl under SCRA 1.

2.

borrowerlservicemember was not f ' h , :un ,on month the Protection

Privileged and ConfidentialAttorney-Client Privilege Doctrina DatoiUe Touch., Tohmatsu l t m i ! ~ < 1 Attomey Work Product

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First actionsale

of the confirmation

Procedures :1. Data Test a Publication of or aForeclosure Period, Perform adate. u ~ ' ' ' . ~ ' ' . ,

violations of

Privileged and r.,.".fiIiAOti"" M ~ m b e f \ l !Subject to the AtlDlm..v"f:II"nl Privilege Deloilt" Touche Tohma!"" Limile(jAttorney Work47

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a. First Action Dateb. Foreclosure Publication Datec. Foreclosure Dated. Date

3. Loans that dfd not have any occurrences of the above within the Period and that do nothave data or data that otherwise did not meet the criteriato the tests described will be considered to pass. Proceed to 7.4. Loans that occurrences of the above will be confirmed theManual described in 6.5. or data that otherwise did not meet theabove will be tested the Manual Test6. via the Data

determine thedetermine the

end date will be the date a motion forwas the date the was dismissed orrhc f ' h , , , ..n lan with abandonment of the or the date the case was

was dismissed or thethe absenceavt,OInl"i 90

Determine if theoccurredNotice of asthethe

Privileged Conridentiaftoth., Attorney-Clien! PrivllegeAttorney Product

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7. Record results.Verification of Loan ""'' ' '",",II,F'mn

3 that were considered to pass, additional prcfce,aur" ' " , '......."11 of these loans to tie the within the relevant loan

,n ." " , r l , . ,n documentation. These will that the relevant dates haveand data the relevant loan can be relied

Prtvileged and ConfidentialSubject to the PrivilegeAttorney Work Product

'1".o'''''>'''It includes all loans identified inassess the loansto testfor loan modificationnumber of foreclosurethe

MembeFOT

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Determine whether aa loan modification or other loss mi1tigflticln ""nt.,.,...",Procedures:

determine a foreclosureloan modification or other loss mi1:igfificln nntlr,na. "'''C''''OI," of to 1" I01a . ' rn .na

b. If the foreclosureobservationsnecessary.C. Record results

Al!orney-Clien! PrivilegeProduct

documents to determine the status

source

1

while the loan was

as

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1.

2.

3.

4.

.i"",.rn,::.nt includes all loansoutlined in assess the for"eclos,edFrom the foreclosure sales a foreclosure sale occurred when aloan was in accordance with a trial loan modification. Permanent loanmodifications will be tested Article Part 1 above. we willthe documentation in the relevant to determine all modification

m J 1 t l g ~ l t i c l n documents were received and validated to foreclosure sale andn a ....orno'n+ for

sale occurred for loans where a trial loan modification was

Procedures:

a. active loss mI1tlC),itICln

nar tn , r rn; ;nn in accordance with a trial or n C " ' r n ~ ' n c when a loan started a trial loanand the Foreclosure Sale Date

b. If loss . . . , i l ~ i n , f i r ' ... was .-.nlmt",I",t"",rI or rel9Clted for the loan, continue toto determine whether the Foreclosure occurred the loanin a trial loan m{}dI1t1c.1tlcm

a. the foreclosure sale outside the tfialloan STOP and 5.b. If the sale occurred while the trial loan modification was 4.

, , , , , ,o,,, , ,nT < : : v < ~ J P l n to n'01to ............,o loana. rnr'rli,fi ...., ' i ir,n documents have not been received or were not nrr,n",,,'1l1 v,,","''''''''b. If all rnr,rhl"t'


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2.

3.

Procedures:.,-,,,,,nTllfU the last

a. If the DPNDSTOP and n,.,..,.,..",/,-,("Ib.

"TC l rn l : ; : " ru includes all loans identified in ).nl"rn, ir icr i assess the foreclosed

Borrower was in a sufficientrnr,rirl:::1l"'l l> loan documents and related :::Il 'Iir."am

the Demand and the date the First

andthe

Action after either the date of "''''''::''''' or the date of thedocuments and the dates theas the difference the date of theAction. Determine if DPND calculation exceeds the

1'' ' ' '",


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a,

b,

c,d,

PriviIA""rl am;! Confidential

Due: Reviewcalculated toSale to the hrtl ' ' ' ' ' ' ' i lJt:>f

Subject to the Attomey-Cliellt PrilillegeProduct

Notice of Foreclosure Salecalculations and comparein the Notice of

state law stated

in a"No,"

source anddatause

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2.

in f exceeds the 1 - l u , u . ~ . I Q I state law thenr c" .,""" .... matrix.

2.lTI::::In;:;aln;:>rnAI'"l t as necessary.

3. Record the results of a-I.ro'"'.....nl l lor" ' ' ' ' ' with

the data source and

c. document the data source andd. Determine the "First Date" and the document in the document..",,,,,,.,,,,,'1'''''''"'


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title.the data source and data/document ,rlc,nti:fi,::u'

b.c. between

Perform Test1. law2. not meet thedocumentation and3. a--c.

a. InO,n1"Ilr.1document

C. the number ofDate" and "Notice of rOlreclosUld. If at",,",'''_'''''''';;'n< "nn " , the "Interest Due" on the "Noticee. Ift If apl)IICaOle, calculate the "Interest r l i t f ' ~ f ' t ' n r ' Q l ) e t \ l 1 i e ~ n amounts

and document the dataDate" and

to the state

Period Start

andin and

g. of record and .ng ,nmr" the "Notice of Foreclosure Sale" on the" ' ' ' ' 'TOl rTl of the "Loan

i. Balance difference between amounts in

Uutsti'lnClllng Loan " ; ; 'O ' ; ; 'Ofl l . . . and "Interest Due" to the on the2.3. Record the results a-i.

Privileged and Confidenlialto AttorneyCllemAttorney Proovct55

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The scope isaccounts relatedelectronic < ; ! " ' n m ~ l n n nla11'n ...YI

indicated within thereviewed.

).

theand will1 i 2011.

loan

-Loan documents are executed in accordance with state and federal laws and hencefederal

Type or amount for purpose np,oxnp'" nrr>,-c.,,.. the secured interest in theH. Amounts not LnJ" ,U" " value of " ' ' ' ' ' " , I I F ' " ,C n., .r fnrrn",r iiiL and internal or " ' T T . n I T I C "fee amounts in instruments or other documents executedthe borrower as amounts the lender or servicer would rom;un,,,,

Subject to the Attorney-Clien! PrivilegeAl!omey Work Producl Deloille TotlChe

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are limited to internal

SU!lJstaniuallV in excess of fairover the amountsinvoices are received from

actual selVices to the

Privileged and ConfidentialSubject to Ih:e Al:lomey-Client Privilege DoctrineAttorney Work

n r ~ ~ ~ & ; ' n n U l r \ n and maintenance

not

ofO"loit!" TOI,Jcrw Tohmalsu

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from the borrower.2.

3.

n ru r n l J \ JQr ' " , accountwere assessedas advised the

and whether 1""""''"''''''''0'-'''''a lista list of Processor IDs and

," , , :;nT"" I - " r n r ~ < > r n , Preservation Matrix and Reference Guide andand the Fees and Costs4, Im",nt " , I \ i lnr tn"nt :> Letter 2005-30 - HUD Schedule Standard 8 # , , , .. . , , , , , , ,Post-Endorsementetter 2002 - 10 Section5. Obtain the FNMA and ,;...,-,"",n,..,,,",,, from each remittance """,'to"""6. ...,,,,,,,fo...,. from each remittance ",,,e,,,,,,,,,,, to the7. t o c , t l n n this narTr,, ' ,rn theDetermine if Fees are P e r m l f s ~ ~ j b 1. Observe from third sourcesfee detail screens.2. .nanTlT,jQ., indocument the reasonand check number

to the borrower and not3. which the nrr,nQ,rn, state4. transaction code and reason code combination with the fee

""


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Determine if fees are ..-n,I'II';I'"I"'"r""l"u""I"It actual services:6.

remittance


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assess whether rn" , .n r .",with HAMP other

Privileged and Confidential10 the Privilege

Attorney Work product60

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if the borrower and are met.2. If the loan is determine if the investor allows for HAMP modifications.3. If Contact was determine if the indicated that areHAMP.4.5. Ifstandard.

"'n,'r...."""," indicated andocumentation needed to be "",,:uU''''''';''''Contact was nol if the

interested indetermine if the

6. the borrower's n .."'_IT'nn .. " ... ~ . . " ....a. For loans where DTI was below 31

was above 31 %.recalculate thedetermine the recalculated DTI eX(::;eE,as 31%.

b. If was determine the re-calculated DTI have made theborrower .:>1"'lnllC. If ~ n l n r n . n r i ! " t . : > h J denied on determine the nnrrnlA/t>

7. nn."t_,,,,,,,,,.rht,,,,,,i inn DTI was able be reduced to 31 %8. I;;lUI.J....tl 'U to 31 the borrower's in rnmfPand determine if the borrower's n n ~ t _ ! m l ' 1 l t i i t j r b. If HAMP was determine if the loan have UU."UIIII:::UCHAMP thresholds and calculated income.c. rf HAMP/CHAMP was denied for nn


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the borrower waswas notified if evaluated11, For loans evaluated the servicer's >:::lnnlnin whether borrowers deemed as

or not considered for HAMP were t"n,n>:::l,np ........,"' ... or other loss andif evaluated and denied,and other loss were based onrelevant

Privileged and ConfidentialSubject AttorneyClient Privilege Memoor,,!Attorney Prod


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below outlines documents to process inall inclusive or outlined

Privileged and ConfidentialSlibjecl the Attomey-CHellt Privilege DoctrineAttorney Work

of Trustee

of Defaultof Election and Demand for Sale

Processan Order to Docket

The list is not

Memoorof

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Notice of Right to Forecloseto 1-("1".1"11""-to Cure Default

Notice of Trustee's Saleof Trustee

I-Ir,rn,,, ,n"Atnaro in Foreclosure" Notice

AOlolicati()n for Default..y"""".", Judgment

Subject 10 Attorney-Clien! Privilege DoctrineAttorney Work ProductMemb",,,!Delai!!e TlOuche T o h m ~ ! s "

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Assurance Team ""'\"\,"'''11''1 the accuracy of loanand the adherence toBased on the results of theany lessons learned to thej ~ I ' r n \ ~ r n p l n t i n t h e t e & T O r n n ' Q T C

loans FF!VIF!llIlF!n will consisteach Foreclosure Review team on a basis. is over and aboveTeam Leaders and Section Leaders. The Team will

detailed InTeam will also

reviewed Team and the loans reviewed

2.u:unn'UT


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reviewweek.

Y'-'J"""" to :S9tCTICin leader

4. J::l\""''','7Q a';:>Y''''I''''''' to

umited

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Definitions:the of loans that includedDecember 31, 2010. D

Added: When issues were identified, D&T no.cti'WfTI


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been each Consent Order",,,,.,,,..0,,


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Privileged and r:"n,f irl",n'i, ,1Subject tc the Att{lmevClliern PrivilegeAttomey Work

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Privileged and ConlidentialSubject the Attorney-Client PrivilegeAttorney Work Product DeIoITI" T ,,,chI> rohmatsu Umiled

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Privileged am! Confidenlial Membe,,,!Subject \0 Attorney-Client Privilege Doctrine Touche T ohma!sUAttorney Work Product71

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Pr",ilRl",d and Confidential10 the Attorney-Client Privilege Doctrine Delei!!e Touche T ohm"!,,,! limiledAttorney Work Product

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D&T will evaluate the of relevant materials for the tolil()IJIJlnI"of to meet

materialsin with such

The "'nin ..r . n " ' i " , ~ < > n " > " , , : , of conclusions set forth in such materials in theThe t"'n"""c,t",.,t'" of t'",y,,,,,.r,,, with results of the work

Privileged and Corl!ldentjal Memoor"fSubject to the Attorney-Client Privilege DoctrineAttorney Work

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Privileged COf1fidef1!1al Memoor,,!Subject 10 ihe Attorney-Client Privllege DeloiU" T L>GneAttorneyWor" Product

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Privileged and Confidentialthe Privilege Doctrine

AllomeyWork

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Privileged and ConfidentialSubject the Marney-Client PrivilegeAttorney Product76

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Privileged and ConfidentialAllomey-Client DoctrineAttamey Work Product

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Privileged and ConfidentialSubject to the Privilege Doctrine

Product

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Privileged ami Conl1denlialSubject 10 the AllomeyClienl Privilege Doctrine Tohmatsu UmltedAtiomeyWork

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Prillileged am;! Confidential Membero!Subject the Allomey-Client PrivilegewOlline

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Privileged ConfidentialSubjecllo the Privilege Doctrine Deloille TDua"e TollmalSu limitedAttorneyWorK

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Privileged alld r : n l ~ l i l ' l , m l i , , , , ' Subject to Attorney-Client PrMIegeAttornev Worll Proouct

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Privileged ConlidenlialSubject Attomev-CUenl PriIJilege DoctrineAttorney Work Product

Memb"fotOeIOftll Limiloo

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Documents

Deloitte and Touche Contract With JPMC Re Occ Consent Order Fulfillment -Foreclosure Review