2loans, Assured claims that it is entitled to be reimbursed forits payment of insurance claims that arose when many of theunderlying loans defaulted.
Assured filed its complaint on April 7, 2011. Followingdiscovery and motion practice that eliminated certain claims andremedies and clarified others, see Order, ECF No. 22 (July 7,2011); Am. Mem., ECF No. 56 (Oct. 27, 2011); Order, ECF No. 84(Feb. 29, 2012); Mem., ECF No. 100 (Sept. 25, 2012), the Courtheld a bench trial over twelve days between October 10 andNovember 12, 2012. The Court received into evidence 130
exhibits, including Flagstar’s voluminous underwritingguidelines, as well as portions of the depositions of MatthewRoslin, Flagstar’s former general counsel; Jean Garrick,Flagstar’s head of quality control; George Stiehl, a former vicepresident in FSA’s Residential Mortgage Group; David Beard, aformer director of FSA’s Corporate Finance Group; and DavidWilliams, a former managing director in FSA’s ResidentialMortgage Group.
The Court also heard live testimony from ninewitnesses: Russell Brewer, Assured’s Chief Surveillance Officer;
Assured also made claims relating to loan servicing, butwithdrew those claims prior to trial.
At the conclusion of the trial, the Court reserved ruling oncertain objections made to various portions of the proffereddeposition testimony. Although marked-up copies of depositiontranscripts reflecting the Court’s rulings on those depositionswill in due course be filed, the findings of fact made hereinreflect those rulings.