By Lynn E. Szymoniak, Esq. Ed., Fraud Digest ( July 18, 2010

These  are  highlights  from  the  deposition  of  Jeffrey  B.  Stephan,  taken  June  7,  2010,  in a  foreclosure  case  in Maine, Federal National Mortgage Association  v. Nicole M. Bradbury, et al., Maine District Court, District Nine, Division of Northern Cumberland, Docket No. BRI-RE-09-65.   The deposition was  taken by Attorney Thomas Cox of Portland, Maine.

Jeffrey Stephan says his current  title  is  team  leader of  the document execution team  for  GMAC.    He  estimates  that  he  signs  between  8,000  and  12,000 documents monthly.  He supervises a team of 14 employees.

Mortgage Assignments and Affidavits in support of Summary Judgment signed by Stephan  have  been  used  by  GMAC,  FANNIE  &  FREDDIE  in  over  100,000 foreclosure cases.

“LPS” in the last line refers to Lender Processing Services in Jacksonville, Florida.

In  a  previous  deposition,  Stephan  stated  that  the  notaries  who  notarize  his signature  are  often  not  actually  present  in  the  room  with  him  when  he  signs documents.

Despite  all  of  the  mounting  evidence  and  admissions,  Jeffrey  Stephan,  Scott Anderson, Bryan Bly, Linda Green, Erica Johnson-Seck, Christina Trowbridge and the  other  “bank  officers”  employed  by  the  companies  serving  the  securitized mortgage-backed  trust  industry  will  be  back  at  their  desks  Monday  morning, pens (or rubber stamps) in hand.

Page 16-17, Lines 17-25, 2-11

Q: What training have you received?

A:  I  received  side-by-side  training  from another  team  leader  to  instruct me on how to review the documents when they are received from my staff.

Q: Who was that person?

A:  That  person,  at  the  time,  I  believe,  was  a  gentleman  named  Kenneth Ugwuadu. U-G-W-U-A-D-U. He is no longer with GMAC.

Q: How long did that training last?

A: Three days.   2

Q: Were  there  any written  or  printed  training materials  or manuals  used  as  a part of that training?

A: No.

Page 20, Lines 19-24:

Q.: In your capacity as the team leader for the document execution team, do you have any role in the foreclosure process, other than the signing of documents?

A: No.

Page 54, Lines 12-25:

Q: When you sign a summary judgment affidavit, do you check to see if all of the exhibits are attached to it?

A: No.

Q. Does anybody in your department check to see if all the exhibits are attached to it at the time that it is presented to you for your signature?

A: No.

Q: When you sign a summary judgment affidavit, do you inspect any exhibits attached to it?

A: No.

Page 62-63, Lines 23-25, 2-6:

Q: Is it fair to say when you sign a summary judgment affidavit, you don’t know what information it contains, other than the figures that are set forth within it?

A: Other than the borrower’s name, and if I have signing authority for that entity, that is correct.

Page 69, Lines 2-20:

Q: Mr. Stephan, referring you again to the bottom line on Page 1 of Exhibit 1, it states: I have under my custody and control, the records relating to the mortgage transaction referenced below.   3

It’s correct, is it not, that you did not have in your custody any records of GMAC at the time that you signed a summary judgment affidavit?

A: I have the electronic record. I do not have papers.

Q: You have access to a computer, is that what you mean?

A: Yes.

(objections omitted)

Page 45, Lines 2-11:

Q: Mr. Stephan, do you recall testifying in your Florida deposition in December with regard to your employees, and you said, quote, they do not go into the system and verify that the information is accurate?

A: That is correct.

Page 41, Line 19:

Q: Do your employees have any direct communication with outside counsel?

A: Yes, through the LPS System.


Fraud Digest (


Full Deposition of Jeffrey Stephan – GMAC’s Assignment / Affidavit Slave – 10,000 Documents a Month


2nd Deposition of Jeffrey Stephan – GMAC’s Assignment / Affidavit Slave



Highlights From a Deposition of Jeffrey Stephan