Robo-Stamped | Michelle Sjolander Deposition Part Deux – Q. Have you ever personally executed any endorsements? A. NO
Robo-Stamped | Michelle Sjolander Deposition Part Deux | Q. Have you ever personally executed any endorsements? A. NO
You can catch part one here…
From the transcript…
Q Okay. Have you ever personally executed any
21 A My — with my — my personally placed a stamp on a
23 Q Yes.
24 A No.
25 Q Have you ever assigned any endorsements personally?
1 A A wet signature on an endorsement?
2 Q You actually physically signed an endorsement.
3 A Are you asking a wet signature on an endorsement on
4 a piece of collateral?
5 Q I’m saying have you ever physically signed an
6 endorsement on an original note?
7 MR. TRINZ: Object to the form.
8 THE WITNESS: My stamp has been placed on collateral on
9 a note.
10 Q BY MS. LUNDERGAN: Okay. That’s not what I asked.
11 A Okay.
12 Q What I’m asking is have you ever physically –
13 A That’s what I was trying to –
14 Q — signed for a note?
15 A My wet signature has never been placed on an
16 original note. That is not common practice.
Did you ever supervise the department that endorsed
1 the collateral?
2 A No.
3 Q Okay. So you don’t have any first-hand knowledge
4 then of the endorsing of the promissory notes, do you?
5 A I have oversight to the — I have collateral
6 oversight in which I do ensure that the processes of the
7 collateral — I walk through and review them.
8 Q Okay. Can you explain to me what that means?
9 A It means I — the department does not directly
10 report to me, but I have insight to the processes and
11 procedures that that department does.
12 Q And where does your knowledge of the process and
13 procedure come from?
14 A Mostly from doing audits.
15 Q Okay. And when you say, “doing audits,” what does
16 that mean?
17 A I conduct a — every six months an audit of the
19 Q Okay. And were you doing audits of the facilities
20 back in 2008?
21 A Yes.
22 Q And are you still doing audits of the facilities
24 A Yes.
25 Q And what is it you are looking for when you are
1 doing audits of the facilities?
2 A I ensure that the procedures that the GSE’s require
3 are in place.
4 Q And what procedures would those be?
5 A Those will be the procedures on All Regs.
6 Q Okay. And what, specifically, are you looking for
7 when it comes to endorsing a promissory note?
8 A That the endorsement is placed in blank.
9 Q Are you looking for all endorsements to be placed in
11 A The final endorsement is an open endorsement in
12 blank –
13 Q Okay.
14 A — or the — let me rephrase that.
15 That the endorsement chain is correct.
16 Q Okay. And when you are looking to see if the
17 endorsement chain is correct, what are you comparing that to
18 to make sure that it’s correct?
19 A I am looking at the note.
20 Q Are you looking at the original promissory note –
21 A Yes.
Full depo below…