~ ~

••.•• -.--- .• --- •••-.-- •••••- ••••••- •••••••••••••••••••

_ •••••_ •••••••
_ •••_ •••••_. __ ._ •••_ ••••__ ••y ••. __ •••••••
_---

~-------------------------------------

IN THE CIRCUIT COURT OF THE TWENTIETH JUDICIAL CIRCUIT

IN AND FOR LEE COUNTY, FLORIDA CIVIL DIVISION

DEUTSCHE BANK NATIONAL TRUST )

COMPANY, as Trustee for Ameri can )
Home Mortgage Assets Trust 2007-1 )
Mortgage-Backed pass-Through )
certificates, series 2007-1, )
)

vs.
Plaintiff,

fi!"!!!&L ; t, )
)
)
)
)
CASE NO. 1W_-_~
)
)
)
)
Defendants. )
---------------)

DEPOSITION OF CYNTHIA STEVENS

)
DATE TAKEN; February 17, 2011
TIME: 10;30 A.M. to 11:30 A,M.

PLACE TAKEN: "2069 First Street

Suite 201
Fort Myers, Florida
ON BEHALF OF: The Defendants
REPORTER: patsy Lynn Coleman, RPR, FPR
Notary Public
State of Florida at Large

MARTINA REPORTING SERVICES

The Courtney Building
2069 First Street - suite 201
Fort Myers, Florida 33901
) off; ce (239) 334-6545 / Fax (239) 332-2913

EXHIBIT
'"
I ~ [JORIGINAL
:;

r" '> 1 A P PEA RAN C E S

i
2
For "the plaintiff:
3
J. REX POWELL, ATTORNEY AT LAW
4 Burandt, Adamski, Grossman & powell, PL
1714 cape Coral parkway East
5 cape coral, Florida 33990
6
For the Defendants:
7
i HALLIE S. EVANS, ATTORNEY AT LAW
81 Akerman senterfitt
I 401 East Jackson street, Su1te 1700
9 Tampa, Florida 33602
10
11

12

13 I N D E X

14 .!:AGE

15 Direct Examination by Mr. powell 3

Cross-Examination by Ms. Evans 32
16 ReDirect Examination by MS. Evans 36

17

18
I EXHIBITS
191
I NUMBER DESCR]:PTION PAGE,
201 pe~ants:

2"11 1 Note 11

221 2 Assignment of Mortgage 16

23
24

) 25
.• -:

11 whereupon,
''I
21 CYNTHIA STEVENS,

3 a witness, called by the Defendants, having been first

4: duly sworn, was examined and testified as follows:
5I DIRECT EXAMINA nON

61 BY MR. POWELL:

7 Q. vii 11 you state your name for the record, please.

8 A. cynthia stevens.
9 Q. cynthia, have you ever had your deposition taken
101 before?
11 A. Yes, sir.

12 Q. Okay. How many times would you say?

13 A. A dozen.

14 Q. Okay, I'm just going to very br-i ef'Iy indicate a

15 couple of things about depositions because it sounds like

~;I
18
you probably know all this; but if we can get verbal answers
to the questions, that's preferable so that the court
reporter can get that down; and, also, we'll try and not

19 talk over each other so that we don't confuse the court

20) reporter.
21 And with that, I will get started.

22 Can you tell me where you work at this time?

23 A. I'm employed with American Home Mortgage

241 servicing. Incorporated.

,; 25 Q. And where is the geographical location that you
~ '"

....... .... ---~- .. ..

--.~~~ " ".-------~

11 actually work for them?

')
Jacksonvi 11e, Flori da ,
21 A.
3, Q. And how long have you been with American Home

41 Mortgage?
5 A. since February of 2009.

6 Q. And what's your position?

7 A. I'm a default litigation specialist, senior.

8 Q. Can you te 11 me a '1 i ttl e bit about what that

91 means?

10 A. The default litigation area handles loans that

111 are active foreclosures that have had litigation filed by
I
121 opposing counsels or borrowers during the foreclosure action
131 that involves something other than just a general answer ..
14 Q. So is there another department that a litigation

151 case might go to if there was just a general answer?

161 A. Yes, si r.
171 Q. And you don't handle those type of cases?
18t A. No, si r.
191 Q. And have you been in this position since February

201 of 2009?
21 A. No, si r. I was hired as the supervisor of the
221 department.

231 Q. And you're no longer the supervisor?

A. NO, S1 r ,
24l Q. What was your original position called?
25 __
 ~--
..... '.--' ..

1 A. Default litigation supervisor.

2 Q. So at this point right now, today, there's a
31 supervisor that's your boss in this department?
4 A. Yes, s i r.
5 Q. What's that person's name?
i
6' A. Yvonne Ybarra, Y-B-A-R-R-A. she started
7 yesterday.
8! Q. was there a supervisor before her?
9 A. Just me. r stepped down october 15th due to
101 personal reasons.
11 Q. So from October 15th to yesterday. was there a
i
12i supervisor in the department?
13 A. NO, si r .
14 Q. when you were the supervisor up until October
15! 15th, how many employees or how many staff did you have
161 working in your section?
17 A. our department consis!=s of 12 full-time employees,
181 not counting the supervisor. During the time that I was a
191 supervisor, there was anywhere from four people to 12.
20 Q. Can you describe the difference in duties between
211 the supervisor and what you're doing now if it's anything
221 other than just being the supervisor?
2.3 A. It's nothing other than being a supervisor.
24 Q. okay.
25 A. Even during the period of time that I was a
 6

11 supervisor, I handled a portfolio of loans.

2 Q. okay. HoW many loans would be in an individual's

31 portfolio?
4 A. The number of loans varies between the position.
51 In my current position as a senior, my portfolio consists
61 of between zero to 200 loans.
7 Q. DO you know how many you have right now?

8 A. About 188.
9 In just a specialist's position, they can have
101 anywhere from zero to 300.
11! A supervisor's portfolio is usually not over SO

121 loans. However, that is not written in stone.

131 Q. And is that because the supervisor is interacting
141 with the other employees?

15 A. Correct.
16 Q .• Are the 188 that: you have now, are those al l
171 Florida mortgages or cases?
18 A. No, S1 1'.

19 Q. What other states would you find your cases in?

20 A. I handle all 50 states.

21 Q. All 50 states? okay.

22 so can you give a general description of what a

231 default litigation specialist, senior, does? !mean if

241 that's too general of a question, just tell me.

2S A. It's too general of a question.

 7

1 Q. okay ~ You sat d you hand] e cases in whi ch

21 there's an opposing attorney and there is something in the
31 litigation other than an answer. If you can answer this
41 question, can you tell me what the difference in duties of
SI the department that handles the answer only ones versus your
61 department, what are the difference in duties, if anything?
7 A. Aff-irmative defenses.
8 Q. So do you deal with affirmative defenses in your
9i department?

10 A. Yes, s-ir.
11 Q. And what exactly do you do in terms of responding
121 to or dealing with affirmative defenses in a litigation
131 case?
14 A. We deal with the attorneys, our counsel, in
151 helping researching issues. signing discovery, appearing
161 at hearings, trials, depositions, research.
17 Q. If there's a counterclaim filed in a mortgage
181 foreclosure case, would that be something that ydu'd deal
191 with as well?
20 A. Yes, s i r ,
21i Q. And would it be a similar set of research, dealing
221 with hearings and things?
23 A. Yes, sir, If a -- an example, in a nonjudicial
241 foreclosure, if a TRO was filed, a temporary restraining
251 order, that would stay with the general clenial group; but
 8

11 if there's a TRO filed with a complaint, that would come

21 into my group.
31 It's based on the severity of the litigation.
4 Q. You just called the other one the general denial
5 group. Does your group have a name?
6j A. Itrs foreclosure special assets. I used the term
71 general denial group for your benefit.
8 Q. I appreciate that.
1
9 okay. Where did you work prior to working for
101 American Home Mortgage servicing?
11 A. washington Mutual Bank, chase.
12 Q. And what was your position there?
13 A. I was hired in as a default litigation specialist.
141 I was in the department for six months and transferred to
lsl the real estate owned area, where my tHle was an asset
161 manager.
Q. And how long was that?
17/
18 A. A year and a half.

191 Q. Did you graduate high school?

201 A. Yes, sir.
211 Q. okay. What year?
221 A. 1977. I
231
241
Q.

A.
Did you go to college?
No, st r.
j
251 Q. Do you have any special certifications or I gues~ __
 ....... _ ..... _ __
.... . -..... -
..... -.-----~-.~-
.. --.-------

11 noncollegiate degrees?
2 A. No, s i r.

3 Q. when you j 01 ned Arnerican Home Mortgage Sa rvicing ,

41 was there a training that you went through to do the job

51 that you do now?

6 A. Just reviewing the standard operating procedures

71 of the company. Other than that, I already had 16 years
81 experience.
9! Q. okay. So before working for waslrinqton Mutual,
101 then, you were in this kind of default litigation category
1.11 for 16 years'?
12 A. Yes J S -j r . I've been in the default mo rtgage
131 'industry for 16 years. I've handled everything from
141 co11 ecti ng payments to sell i ng real estate and anythi ng
1s1 and everything in between.
16 Q. Do you as part of you r job function execute
ll1 documents?
18 A. If they're necessary, yes, sir.
19 Q. Can you tell me some of the documents that you
201 might execute?

21 A. Discovery, responses to interrogatories,

221 affidavits of indebtedness, supplemental affidavits. If we
231 have a title problem and we need an assignment of mortgage,
241 I can assign assignments of mortgages. Whatever;s needed
25 Lto resolve the issue at hand.
 - -- ----------------

10

1 Q. And do you have spec! fi c peep 1e withi n your

2f department that handle the execution or is it within your
!

31 portfolio that you would execute documents for any specific

41 case?
51 In other words, if an affidavit needs to be
61 signed for any particular file, is there one person that
71 handl es that or woul d the person whose fi -I e that was

81 execute it?
9 A. The person whose file, if they're available, I

101 mean if we're a team, so if Joe which I don't have

111 anybody in my department named Joe if Joe is out and
121 his attorney needs this for a hearing and I'm available,
131 then I'll rev'iew the case) rev-jew the document and execute
141 it or make corrections or whatever.
15 Q. Okay. NOW, you just said review the case, so
161 what is it that you have in order to review? And this is a
171 very general question. It may be difficult to answer. I'll

18 try and get more specific.

1'
19 Rut if you are p resented with an aff-jdavi t , fo r
!
201 instance, what is it that you wou1d review prior to signing
211 that affidavit?

22 A. Depends upon what's in the affidavit.

23 Q. If it's an aff; davi t of indebtedness.
24 A. Depends on what sinI the affi davit. An affi
25 of indebtedness can be just a general affidavit of
 -_._ _------_.

11

11 indebtedness. It can also address affirmative defenses.

21 It just depends upon what's in the document. If it's an
31 affidavit of indebtedness just for a motion for summary
4! judgment, then I review everything from the plaintiff to
51 the notary statement. There's -- you have to review the
61 entire document, no matter what's in h.
7 Q. okay. And the file that you have, the documents
8! that you have, are they all on computer or do you have a
91 paper file?
10 A. No. Everything is image.
11 Q. Okay. I want to get to this particular loan.
121 I'm going to ask you a few quest-ions about "it.
B· Have you ever seen the original note that's been
)
141 filed by your attorneys in this case?
15 A. NO, s i r.
16 MR. POWELL: I'm going to introduce the note as 1.
171 (Exhibit Number 1 was marked for identification.)
181 BY r4R. POWELL:
19 Q. Have you ever seen an adjustable rate note before?
20 A. Yes, sir.
21 Q. Looking at this note in particular, can you see
221 who the lender is listed as?

23 A. American Brokers conduit.

24 Q. Do you know who American Brokers conduit is?
25 A. The lender.
 ...... - -.--- ..- ........•.. -~ ---.--------------

12

1 Q. out side. of seej ng the; r name here on thi s

21 document, have you ever heard of American Brokers conduit?
3 A. Yes, si r.
4 Q. Outside of your knowledge of American Brokers
51 conduit as the lender in this particular -- listed on this
61 note, do you have any knowledge of that company?
7 A. I've never been employed by that company, no,
8 sir.
91 Q. Do you know whether they're still in business?
10! A. I don't know.
11[ Q. okay. If you can turn to the last page of the
12; document, which is page 7, down on the bottom right section
131 of th~ page there, there's a stamp. Can you describe that?
)
14 A. It's an endorsement in blank.
I

1)1-' Q. And what is your understanding of an endorsement

161 in blank?
17 A. An endorsement in blank is a -- it's an industry
181 standard stamp used when a loan is transferred fr-om one

191 entity to another. The pay to the order of ;s left blank

201 99.9 percent of the time. That I've ever seen, they've
211 always been blank. It's a stamp that transfers a note from
221 one entity to another.

23 Q. okay, And this stamp here says, "Pay to the order

241 of blank without recourse by American Brokers condu+t ." So
is it your understanding that by this stamp American Brokers
251L-_______________________________________________________J
 13

11 conduit transferred this note?

)
2 A. Yes, sir.

3 Q. okay. There's a name down there and the name is

41 Ryan criscione, C-R-I-S-C-I-O-N-E. Do you know who he is?

5 A. No, S1r.
6 Q. Have you ever heard of somebody named Ryan
71 cr+sctcne?

A. NO, sir.
:1 Q. SO you're not familiar with him?
101 A. No, sir.

111 Q. okay. Have you ever endorsed a note before?

121 A. NO, sir.

131 Q. Do people in your department endorse notes?

"j

141 A. NO, sir.

I
151 Q. Do people in the general denial group endorse

161 notes?
I
A. No, si 1'.
171
18 Q. Before today have you eve r seen ---I think you
191 answered this already; but have you ever seen this note?
A copy of it, yes, sir.
2°1, A.
211 Q. okay. Do you understand what the definition of
221 origination documents might be?
23 A. Yes, si r,

24 Q. As part of your daily job responsibilities, do

251 you review origination documents?
 14

1 A. Yes, sir.
'j
2 Q. Have you ever reviewed the origination documents

31 in thi s case?
.~'

4 A. Yes, si r.
5 Q. I have here the affidavit of indebtedness which
61 is filed on May 14th, 2009, so I donlt think we need to make
7 it an exhibit.
81 tl,S, EVANS: It I S been wi thd rawn .
91 BY MR. POWELL:
10 Q. Thatls fine; but I want to show this to you, so we
111 donlt need to have this as an exhibit, but I just have a
12 question.
131 First of all, do you know who Michelle Haylard is?

14 A. Yes, sir, I do.

15 Q. Does she work in your department?

16 A. NO, sir.
17 Q. Does she work for American Home Mortgage
181 se rvici ng?
19 A. Yes I si r .
20 Q. Do you know what her position is?
21! A. she's the foreclosures document support manager.

221 Q. Does she work in the same office that you do?

231 A. Yes, s i r. she's in Jacksonville.

241 Q. Do you know who Linda Bayless is? It's

251 B-A-Y-L-E-S-S.
 ---- -
.•. ... "~.,--~--,

15

1 A. Yes, sir.
2 Q. Linda. Does she work for American Home Mortgage?

3 A. Not anymore. I'm not sure that she did -- she

41 may -- I don't know. she's not there anymore.
51 Q. Do you know if she wo rked the re on fvlay1st, 20097

6 A. she was in the building, yes.

7 Q. Do you know what -- and if you don't know the
81 answer to these questions, you call just say you don't know;
9! but do you know what hel' position was?
10 A. I don't know.
11 Q. Do you know who option One Mortgage corporation

121 i s7

13 A. ~'ve heard of the company, yes, sir.

14 Q. Do you happen to know if option One Mortgage
151 corporation was involved with this par-t icu lar loan in any
161 way at any time ever?
171 A. I don't know.
18 Q. I ask because the affidavit of +ndeb tednes s reads
191 that this document was executed on ,behalf of American Home
20 Mortgage servicing, Incorporated, as successor in interest
211 to Option one Mortgage corporation, so that would indicate
221 that option one Mortgage corporation was involved; but to
231 your knowle.dge, you just don't know?

241 A. I don't know.

25 Q. okay. so have you ever seen in your review of
 11
2

3
the documents for this the name option One Mortgage
corporation?
A. NO, sir.
1 I
Q. so we've discussed the note and the endorsement
:1 in blank and you've testified that your understanding is
61 that that transfers an interest in the note.
71 Do you know when the transfer of this note took
81 place and to whom?

9 A. January 7th of '07, I believe.

10 Q. How do you know that?
11 A. Because it's part of a pool that was transferred
121 on that date.
13 Q. And what have you seen, reviewed or looked at
14 i that waul d indi cate to you that there was a pool of notes
151 transferred on January 7th, 2007?
16 A. pooling and servicing agreement.
17 Q. Do you know whether the endorsement that shows up
181 on this note was signed on January 7th, 2007?
19 A. No, sir. I don't know.
20 Q. Do you know whether there was an assignment of
211 mortgage that was ever executed in this case?

22 A. There was one filed with the court, yes, sir.

23 MR. POWELL: okay. I'm going to introduce that

241 now as 2.
25 (Exhibit Number 2 was marked for identification.)
 17

11 BY MR. POWELL:
2 Q. SO if you could just take a look at this, and

31 would you agree that document is titled Assignment of

41 Mortgage?

5 A. Yes, si r.
6 Q. DO you know who Ron Meharg is?

7 A. No, sir.
Q. Do you know who the company DocX is? I
:1 A. I've heard of them, yes, sir.
I
Q. Have you ever worked for them? !

1°1
11i A. No, sir.
12 Q. Have you ever seen documents that were produced
13! by DOCX, by this company?
14, A. Yes, si r.
i

15 Q. Do you know if your -- the company that you work

161 for now out sources document production to DOCX?

17 A. We used to.
18 Q. Do you know when you used to do that, when the
191 company did?
A. I don't know.
2°1
21 Q. But they don't anymore?
22f A. NO, sir.
231 Q. can you see that the -- on thi sassi gnment 'there IS i

241 a date -- and let me locate it.

25 There's an execution date right on the line thJ

 ................. ~ ---.- .. -- -- - __ __ __ _-----

18

11 says, "In witness whereof". Can you see what that date is?
2 A. May 13th of '09.
31I Q. And then four or five lines up from there,
.
there's
4); something that says, "Miscellaneous comments". Can you read
5. that?
j
6 A. "Assignment effective date, 5-7-09."
7 Q. NOW, you've testified that your understanding is
31 that this note was transferred in 2007. Do you have any
9i idea why an assignment was created in 20097
10 A. NO, si r.
11 Q. Have you ever seen in your work at Ameri can Home
121 MOI<tgage assignments that were created after a loan was
131 allegedly transferred?
)
14 A. I've seen it in my i6-year career.
15 Q. How often have you seen that?
16 A. A lot.

17 Q. A lot.
18 A. Assignments are not usually done until a
191 foreclosure process starts.. That's what I've noticed,
201 anyway.

21 Q. Do you know why?

22 A. I can only give you my opinion, and that's not a
231 why.

24 Q. You've testified that this loan was transferred

251 and that your understanding of the fact that it was
 transfe rred was based upon you r r'eview of a pool i ng
)
21 servicing agreement; is that correct?
A. Yes, sir.
:1 Q. Have you reviewed a pooling and servicing
51 agreement in this case?
6 A. Yes, s i r ,
7 Q. When you rev; ewed the pool i ng and S6 rvi ci ng
81 agreement in this case associated with this mortgage and
91 this file, did you notice if there was a closing date on
101 the trust?
11 A. No, sir. There a lways is a closing date.
12 Q. And do you know if the closing date matches the
131 name of the trust? In other words, if the trust has a year
141 in it, is that year going to be the same as the closing
151 date?
16 A. I didn't look at the closing date on this one, I

171 simply verified that it was there.

18 Q. okay. \\lell
, your counsel has produced this
191 pooling and servicing agreement as part ot' the; r product-ion;
20' and in the inter'est of saving about three trees, I'd rather

21 not introduce this as an exhibit, but I would like you to

22 -j ookat it,
23 A. Okay,

24 Q. And I have a little orange tab there up at the

251 top, and I think it's page 23. Can YOLl loot< and see if
-::

20

11 there's something highlighted that describes a closing

21 date?

3 A. It's on page 21. The closing date's January 26th

41 of 2007.

5 MS. EVANS: could we wait just a second while I

61 get my copy, please.

I
71 MR. POWELL: Sure. I
81 MS. EVANS: All right. What page were you all on?

91 MR. POWELL: It's 21. And we were referring to

10 I the quoted cl os i ('l9 date, January 26th, 2007.
11i BY MR. POWELL:

12 Q. DO you have an understanding what that means?

13 A. Just the closing date of the pool.

14 Q. And what does closing date mean to you?

15; A. To me it means the same thing as a closing on a

161 transaction on a mortgage. It's the date that everything
171 gets done.
18 Q. okay.
19 A. Drop dead date, final finish line date.
20 Q. So 1V0uld you expect that the loans that were
211 transferred into this trust to have been transferred by

22 the closing date?

23 A. Yes, sir.

24 Q. Can you turn to the next one? It should be page

251 30.
 21

11 A. okay.
21 Q. Referring to the highlighted segments there, what
31 is that highlighted language referring to? And you can just

41 read it out loud.

1

sl A. under the definition of mortgage loan, you've

61 highlighted, "identified in the mortgage loan schedule".

7 Q. okay. And it refers to an exhibit, I think

81 Exhibit H or something like that.
9 The mortgage loan schedu1e would be an attachment,
101 in terms of the description of this document, to the
n document; is that correct?
12 A. Yes 1 s i r.
13 Q. okay. would you expect to find this particular
14 loan in an exhi bit that 1i sts the mortgages associ ated wi th
15 this trust?
16 A. I did.
17 Q. You did. When you reviewed your documents -- and
181 so what did you see that made you think that?
19 A. r found the -- r requested a copy of the mortgage
201 loan schedule from our reAR area, and they provided me with
211 a redacted copy that showed that loan.
22 Q. And what exactly does it show about the loan when

231 you say that?

24 A. That it's there.

2S Q. okay. But what particularly makes you say

·

22

11 there? Is it a loan number, a date, a description or

'j
2 anything like that?
A. Do you have a copy of the mortgage?

:1 Q. Yeah.
51 A. This mortgage, if you look in the number at the

61 very bottom of the front page that says APPL --

7 Q. uh-huh.
8 A. -- that is basically the identifier of this
91 mortgage and that's the number that's found on the mortgage
101 loan schedule.
11 Every mortgage has an identifier number on +t when
121 it's originated.
13 Q. Is there anything else that would identify this
141 loan on that mortgage loan schedule that you can recall,
151 because we don't have it he re?
16 A. I look for that number.
17 Q. You just look for the number?
18. A. Yes.
19 Q. But the address of the property. do you recall if
201 that's there?
21 A. I don t remember.
I

22 Q. okay. I'll take that back. I think we're done

231 with that.

24 Do you know how long Arne rican Home Mortgage
25 I servi cing has been servi cing th:i sloan?
 23

11 A. since July of '08.

-)
21 Q. Do you know who serviced it prior to that?
3! A. Arner;can Home I-lortgageservi ci ng.
41 Q. And was that a different company?
5i A. Yes, sir.
61 Q. What happened to that company?
71 A. From what I I ve been told, they're in bankruptcy.
81 Q. Do you know if the servicing rights to this loan
91 were transferred through the bankruptcy?
10 A. Yes, sir. That's what I've been told.
11 Q. Do you know if there was another servicer prior

121 to Ameri can Home Mortgage servi ci ng?

13 A. Not to my knowledge,
14 Q. So -- and this may be a little bit out of your
IS! department, but hopefully you can answer these questions.
161 As a servicer, the company that you work for now, American
171 Home Mortgage Servicing, Incorporated, what is it that they
18 do?
19 A. 56 rv i ee loans.
Q. And what does service loans mean to you?
2°1
21 A. I'm sorry. In an attempt to make it easier on
22 i you, you can refer to my company as AHMSI,A-H-M-S-I.

23 Q. What does AHrvtSI do when they servi ce loans?

24 A. We are responsible for the servicing of the loan
) 251; n regards to co 11eeti ng the debt, providi ng servi ces to
L..
:;.

-----_ _ __ ..

24

11 the borrower in regards to taxes, insurance, taking care of

21 the note per the terms. of the note.
3 Q. okay. So as part of that you said that AHMSI
41 collects the debt, so they collect money?

A. Yes.
:1 Q. And where does that money g~?
A. On the loan.
:1 Q. But is it paid to someone? You se rvi ce th e ']oan .

91 Your company doesn't keep it, do they?

10 A. I don't know.
11 Q. DO you know if it's paid to the plaintiff in this
121 case?

13 A. I don't know.
)
14 Q. Do you know how many loans that are found in
151 thi s trust POQ 1, the Ameri can Home 140rtgage Asset Trust
161 2007-1, Mortgage-Backed pass-Through certificates, series
171 2007-1, are serviced by AHMSI?
18 A. According to the pooling and servicing agreement,
191 there appears to be over 3,000 loans.
201 Q. Are they all serviced by AHMSI?
A. I don't know.
211
22 Q. Do you know how many of them are in default?

23 A. I don I.t know.

241 Q. Do you know whether AHMSI earns any additional

) 251 money as a servicer when they foreclose on a loan?

:--

25

1 A~ Don't know.
2 Q. What department within AHMSI makes a decision to
31 foreclose?

4 A. The note.
5 Q. Is there a particular department, though, that
61 says now it "s time to fo rec'lose?
7 A. The note the terms of the note determines when
81 it's in default.
91
I Q. uh-huh ,

10 A. when a loan goes into default. it's reviewed by

111 the foreclosure review area.
121 Q. That's what I was looking for.
131 A. A notice of intent is sent at a specific date of
141 default. I don't know what that date is. It I S based on
151 Fanny Mae guidelines. I think it's like 121 days.

16 Q. okay.
17 A. But that's my assumption. Once that notice of
18 intent letter expires, the loan is referred to an attorney
19 for foreclosure; and that's general industry practice.
20 Q. Is it typi ca 1 'that the attorneys i nvo 1ved 'j n a

211 foreclosur-e might change in the same case'? In other words,

221: in thi s case there's been more than one 1aw fi rm that's been I.
I

231 i nvo 1ved .

24 A. That can be the case when litigation is found --

251 , or when filed -- 11m sorry -- or it can be changed for any
'------------~------------------ ..,----..
;"

26

11 number of reasons,
2 Q. okay. And is that a decision that gets made

:1 within your department'

A. It can be, yes, sir.
5! Q. Were you involved in the decision to change the
1
6 attorneys here?
7 A. Not in this case.

8 Q. You happen to know why that happened?

9 MS. EVANS: objection; attorney/client privilege,
10 work product. I instruct the witness not to answer.
111 BY MR. POWELL:

12 Q. I noti ce that you don t have any documents

t w'i th

131 you; and I was goi ng to ask you some questi ons about what
14! your understanding of the amount owed at this time is; and

151 you may not have the answer to that, based on not having
161 something in front of you. But do you happen to know at
171 this point, today, what is the amount owed on this loan?
18 A. No, sir.

19 Q. okay. Do you know whether there's any hard costs

201 that have been paid by the servicer, by your company, by

211 AHMSI on this loan?

221 I
A. I don't know what; that means.
231 Q. Hard costs -- well, have there been any expenses
241 that were advanced? For instance, insurance or taxes?
25 A. I don't know.
'"

27

1 Q. You don't know?

'')

21 Do you know if that's a regular thing with the

31 servicer, to pay certain costs for the borrower?

4 A. Per the terms of the mortgage, if the -- if the

51 property's not covered by insurance and we're made aware
61 of that, we put insurance on the property to protect our
71 interest. If the taxes are not paid and we're made aware

8 of that, we pay the taxes to preserve our interest.

9 Q. Do you have any idea whether there's been

10 'insurance placed by your company in this case?

11 A. AS I said, I don't know.

12 Q. You don't know. That's f=ine .

13 okay. we're going to take a look at the

141 affidavit of lost promissory note which has been filed in
151 this case.

16 MS. EVANS: I believe this has also been

171 withdrawn.
181 BY MR. POWELL:

19 Q. Take a look at that. Have you ever seen one of

201 these before?

21 A. No, s i r .
22 Q. ,So you've never si gned or drafted an aff i davit of

23! lost promissory note?

24 A. No, s i r. ,/
i

) 2S Q. okay. Do you know who Cindy Ellis is?

~

28

1 A. I do.
2 Q. Does cindy Ellis work for AHMsr?

3 A. Yes, sir.

4 Q. Does she work in your department?

5 A. NO, si r .

6 Q. where does she work?

7 A. California.
8 Q. And what is her position, if you know?

9 A. I know she's a supervisor.

10 Q. Where in california?
11 A. Irvine, Irving, one or the other.
12 Q. okay. Do you know why an affidavit of lost
13 promissory note was drafted and filed in this case?
14 A. No, 51 r.

15 Q. Do you know whether the promissory note in this

161 case was lost at some pO'1nt?
171 A. r don't know.
18 Q. where are the promt ssory notes kept?

19 A. with the custodian. the trustee.

20 Q. And who is the custodian in this case?

21 A. Deutsche Bank.

22 Q. The original note has been filed and there's been

231 a filing of an original note in this case, does the -- when

24i an or igi na1 note needs to be fi 1ed, does it come ac ross to
251 your department?
 ~~-.----
...........••••• . ..•.•...................• --.. ----

I
29

"'. l'! A. No, s i r ,

2 Q. Do you know where the notes -- how the notes

31 travel when they do need to be filed by the attorneys?
4 A. I can only tell you what happens when I need an
SI original note,
6 Q. Can you describe that?
7 A. I send an e-mail to document retrieval, tell
81 them I need an original file pulled and sent to the
91 attorney.

10 Q. And document retrieval is a department in your

11[ company?

12 A. It's an e-mail box. I presume it's attached to

131 a department called document retrieval.
14 Q. Which would be somebody in AHMSI, right?
15 A, Yes. It is an AHMSI e-mail address.

16 Q. And is that the extent of what you do?

17 A. Yes, sir. That and follow-up.

18 Q. Have you ever had one of those where you sent it
191 and you went to follow-up and it was determined that the
201 note's gone?
21 A. No, sit.

22 Do you want this marked?

23 Q. No, This is a filing, so it doesn't really need
24f to be marked.

25 Going back to Exhibit 2 again real quick, the

 _"''_'w'" ••','w _

30

11 assignment of mortgage, do you know who Korell Harp is?

21 A. NO, sir.
3 Q. Do you know who Tywanna Thomas is?
4 A. NO, sir.
5 Q. Do you know who Brittany Snow i s7
6 A. No, si r.

7 Q. Have you ever seen an assignment of mortgage with

anna Thomas s name on it before?
81 TY\•..• 1

9 A. Yes, si r ,
10 Q. DO you persona11y recall ever seeing more than
111 one that looked like it had a different signature on it?
121 A. NO, s i r.

') 131 Q. okay. As a defau1t litigation specialist, senior,

141 when you have a loan in your portfolio, do you handle
151 settl ement negot·jati ons as well?
16 A. sometimes.
17 Q. Have you handled any 'settlement negotiations in
181 this case?
19 A. No, sir.

20 Q. Is there another department of AHMSI that would

211 handle that if you didn't?

221 MS. EVANS; objection to discovery and to

231 settlement, work product and attorney/client privilege.
24 BY MR, POWELL:
25 Q. 00 you know who ultimately makes a settlement
 ....... _ .. __ _ _----------

31

.')
11 decision at AHMSI? Is it AHMSI or is it the investor?

2 A. No, it's AHMSI.

3 It depends upon who's working it. I mean if it's

41 a settlement that's presented to me and it's within reason,
51 I can approve it. It--
6 Q. Are there guidelines or is it specific to each

71 loan?
8 A. I wasn't done.

9 Q. sorry.
10 A. If it's something that's presented to me that
111 I don't feel is reasonable but could make sense, I can
12 take it to management, to my manager. It just depends
131 upon what the settlement is.
14 Q. NOW, are there a set of guidelines that you
151 follow or is it specific to each one?

16 A. It's kind of a gray area. We have boundaries

171 that are presented to us as specialists, seniors; and we
181 work within those. If they don't fit within our boundaries

19 but we feel, again, that the offer is reasonable and makes

201 sense for the company and for the investor and for the
211 bor-rower, then we take it to management and say we rea 11y
221 think this makes sense. That's why I say it's a gray
23 area.
24 Q. Do you handle modifications "in your department,

251 loan modifications?

 32

1 A. No, si r.
2 Q. If a loan modification application was submitted
31 in a litigation file that's in your portfolio, what do you
41 do with it?
5 A. It comes to me. I then forward it to the real
61 to the HPO, home ownership preservation department; and
71 they review it and they let me know what the outcome is.
8 That's actually the department cindy Ellis is the
91 supervisor of.
10 Q. DO you know whether there's been a modification
111 application submitted in this case?
12 A. I do not know.
13 MR. POWELL: I think that i~ it.

14 ~~S. EVANS: I have a few questions on cross.

15 CROSS-EXAMINATION

161 BY MS. EVANS:

17 Q. Miss stevens, you testified in response to
181 counsel's question that you have never seen the original
I
19' note in this case. Do you recall that?
1
20 A. Yes.
21 Q. would you typically see an original note in your
221 capacity as default specialist?
23 A. NO.
24 Q. Regarding the copy of the original note with
251 the endorsement in blank by Ryan, last name beginning with
 ·...•...•..... --- - -------~--~

33

'" 1 C, you testified that you did not know that man.
)
2 A. Yes.

3 Q. DO you recall that testimony?

4 A. Yes.
5 Q. Would you typically know the people who sign an

7
61 endor-sement of the note?

A. NO, ma'am.
I
w
8 Q. DO you recall testifying that the note in this
.
I
I
91 case was transferred January 1, 2007, based upon your revt ew I

10 of the pooling and servicing agreement?

11

12
A.

Q.
Yes.

IS that based upon your 16 years of experience

I
131 in the mortgage servicing industry and your knowledge of
141 how loans are transferred under pooling and servicing
IS! agreements?
16 A. Yes.

17 Q. counsel asked you a few questions about the.

181 assignment of mortgage and I believe you testified that you
191 have seen assignments of mortgage recorded in the public
201 records after the date of the note endorsement. Do you .
21' recall that testimony?
22) A. Yes.
231 Q.. what is your understanding of the purpose of
24 recording an assignment of mortgage in the publi'c records?
25 A. It's -- the term that we apply to it, that I
 --_." ..".'----

34

1) apply to it, is it's a courtesy copy. It's to let people

21 who search the records know that it's been -- changed hands,
31 that the document has changed hands. It's I mean

4 that's--
5 Q. Is it a formal notice to the public of something
61 that's already happened?
7: A. Yes. That's a better way to put it.

8 Q. okay. counse1 asked you a few questions about

91 the servicing history on this loan and I believe you
101 testified that pr-i or' to your company. AHMSI. starting
111 servicing in July, 2008, it was serviced by another company
121 wi th .the same name; is that corr-ect?
13 A. Yes.
)
14 Q. okay. Do you recall the date of default under
151 this note?
16 A. The loan's due for November of '08, I believe.

17 Q. okay. And that was after your AHMSI began

181 servicing ~he note, correct?
19 A. Yes.
20 Q. So would the payment default be reflected in the
21! payment history of your company?
22 A. Yes.

23 Q. And it would be part of the records that you

241 would have reviewed as part of your corporate rep deponent
251 investigation; is that correct?
 35

1 A. Yes.
2 Q. counsel asked you if you had knowledge sitting
31 here today without access to any records whether you know
41 the exact amount owed on the loan at this time and you
5 stated that you did not. Do you recall that testimony?

6 A. Correct. Yes.
7 Q. would there be records in the file that you
81 could access that would allow you to provide the exact
91 amount owed at this time?

10 A. Yes.
11 Q. would you also be able to access records if they
121 wet'e available to you right now to testify to the hard costs
131 paid by AHMSI, such as insurance or taxes?
14 A. Yes.
15 Q. This deposition was noticed today as a corporate
161 representative of the plaintiff, Deutsche Bank; but you
171 have testified that you're an employee of the servicing
181 agent, American Home Mortgage servicing, correct?
19 A. Yes, ma'am.
20 Q. Is American Home Mortgage authorized by Deutsche
211 Bank to send an AHMSI employee to this deposition on behalf
221 of Deutsche Bank?
23 A. Yes, ma'am.
24 MS. EVANS: okay. That's all I've got.
1
25 i MR. POWELL: okay. Just a couple of quick
 -- ~--
......••••......... ...•.•......•.." .. ' ' _---,-,

36

" 1 ones.
I
2 REDIRECT EXAMINATION
31 BY MR. POWELL;
4 Q. You testified just now that -- and you testified
51 in my original examination that you don't know who the
61
I person that endorsed this note is and you normally wouldn't,
7! Do you know who would?
81 A. NO, si r. somebody at American Brokers conduit.
91 Q. In th'!s part; cul ar case?

101 A. Yes, si r .
111 Q. okay. And there was a discussion in the cross
121 I'egarding the transfer of the note and mortgage into thi s
131 trust pool. YOU testified that it was based on your
141 expe 1'; en ce and you r rev; ew of the pool i ng and S6 rvi ci n9
151 agreement that you know that this happened.
161 DO you have personal knowl edge that thi s note
171 and mortgage were transferred to this pool?

18 A. Yes, sir.
19 MS. EVANS: What was the answer? I'm sorry. I

201 didn't hear.

21 THE WITNESS: Yes.
22 MS. EVANS: okay.
23 THE WITNESS: By virtue of the fact that when we
241 requested the original docs from Deutsche sank, they
25 were provided. If the transfer didn't occur, they
 37

1 wouldn't have had them.

")
21 BY MR. POWELL:
3 Q .• So your understanding of the transfer is that
41 it's evidenced by Deutsche Bank having the documents? Is

51 that what you just testified to?

6 A. Yes.

7 Q. Do you know whether the pooling and serv-icing

81 agreement establishes a lengthy series of steps that must
91 be gone through in order to properly transfer a mortgage
,

10 I and note'?
11 A. Not that I've ever seen, not that I looked for.
12 Q. Do you know whether the pooling and servicing
131 agreement has any 1anguage in there reqar-dt ng how
14 assignments must be drafted, who they must be assigned to .
15 and whether or not there's a series of steps that have to be I
I
16 gone through in order for a proper transfer to happen?
17 A. I don't know.
18 Q. Do you know what a REt4IC document is?
19 A. No, sir.
20 MR. POWELL: That's all.
21 MS. EVANS: NO follow-up.
22 (A discussion was held off the record concerning
231 the reading and signing of the deposition.)
24 THE WITNESS; No, I'm going to read.
25 (Deposition concluded.)
 38

1 ERRATA SHEET
r
2! DO NOT WRITE ON TRANSCRIPT - ENTER CHANGES

3
DEPOSITION OF: CYNTHIA STEVENS
4
DATE OF DEPOSITION: February 17, 2011
5
RE; DEUTSCHE BANK VS •••••••• =-_11'1
61
71 PAGE LIN!: CHANGE REASON

10
11

12

13
)
14

15

16

17

18

19

20 under the penalties of perjury, I declare that I

211 have read the foregoing document and that the facts stated
221 in it are true.
23
24
DATE CYNTHIA STEVENS
25
.)
 39

1 CERTI~ICATE OF OATH
)
2
31 STATE OF FLORIDA )

41 COUNTY OF LEE )

61 I, patsy Lynn coleman, RPR, FPR, and Notary

71 public, State of Florida at Large, certify that CYNTHIA

81 STEVENS appeared before me and was du1y sworn.
91 WITNESS my hand and official seal thls \~
101 day of February, 2011.

11

12

13
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14
15
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16

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40

11 STATE OF FLORIDA )

21 COUNTY OF LEE )

41 I, Patsy Lynn coleman, RPR, FPR, and Notary

51 public, State of Florida at Large, do hereby certify that
61 I was authorized to and did report the foregoing deposition
71 of CYNTHIA STEVENS, and that the foregoing transcript,
81 consisting of pages 1 through 37, is a true record of the
91 testimony given by the witness.
101 I further certify that I am not a relative,
111 employee, attorney or counsel of any of the parties, nor
121 am I a relative or employee of any of the parties' 'attorney
131 or counsel connected with the action, nor am I financially
)
14 interested in the action.
15 Dated this \~ day of February, 2011.
16

17

18

19
Large
20

21

22

23
24

1
I
25
 ...
,
- "\

ADJUSTABLE RATE NOTE

(l2.MTA Inder - Payment and Rate Caps)

THIS NOTE CONTAJNSPROVISioNS ALWWING FOR CHA..'lGES IN MY INTEREST RATE AND MY

MONTIILY PAYMENT. BECAUSE MY INTEREST RATE WILL CRAc'lGE MORE FREQUENTLY THAN
MY M0N11lL Y PAYMENT. AND BECAUSE THERE ARE LIMITATIONS ON MY MONTIiLY PAYMENT
INCREASES, THE AMOu"NT OF MY MONTflLY PAYMENT MAY NOT FULLY PAY TIlE lNTBREST
THAT ACCRUES. AS A RESULT, THE PRINCIPAL AMOUNT I 1vIUST REPAY COULD BE LARGER
THAN TIIE AMOUNT r ORIGINALLY BORROWED. BUT NOT MORE THAN·-..p5. QQO~ OF THE
ORIGINAL AMOUNT (OR $_.4..Qll.noo 00 ). MY INTEREST RATE CAN NEVER EXCEED THE
LIMIT STATED IN TIDS NOTE OR ANY ruDER TO 'TInS NOTE, A BALLOON P A YfVlENT lYrAY BE DUE
AT:!vfAnJRITY,

Nov!"rnber S, ~"- ~_ ~_~1l. ~ida _

(City) (Slate)

4310 perj..h cr t.rerth l<'ort Myers ....EI.t-3. •.>..:"'-''- _

(Propeny Addr~ss)

L BORROWER'S PROMISE TO PAY

In return for a loan that I have received, 1 promise to pay U.S, $ 320, oO~.:.?O plus any amounts
added in accordance with Section 4 (0) below, (this amount is called "Principal"), plus interest, to the order of the
Lender. The Lender is Amorican Brok,!i'.l:lL-c:Q.ndu:i.J:,.. ....._. __ ..__ ;:---;-_~-:-;- -,.._-:;
_.,-_~--:--,,---::_ . I will make aU payments under this Note in form of cash, check or money order. 1
understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who
is entitled to receive payments under this Note is called the "Note Holder".

2. INTEREST
Interest will be charged en unpaid Principal until the full amount has been paid. I will pay interest at a yearly
rate of --L.rul.ll-% until 'lOVembM' 30 ?OM, and the initial monthly payment provided for in Section 3(B)
of this Note will be based' Oil this rate (the. "Initial Rate"), Commencing ....nene:mbeLL.....2J1llL 1 will pay
interest at a yearly rate of B. 577 % (the "Subsequent Rate"). Thereafter •.theinterest rate I will pay may
change in accordance with Section 4 of this Note. The interest rate required by this Section 2 and Section 4 of
this Note is the interest rate I will pay both before and after any default described in Section 7(13) of this Note,
Solely for the purpose of computing interest, a monthly payment received by tbe Note Holder 'within 30 days
prior or after tho date it is due will be deemedto be paid on such due date.

3. PAYMENTS
(A) Time and Place of Payments
I will pay Principal and interest by making payments every month. In this Note, unless otherwise specified
"payment" refers (0 the Principal and interest payment only; although other charges such as taxes, insurance
and/or late charges may also be payable with the monthly payment.

-- Doo ~ ~H?52/Irn'ge, 944752.prn Al't>1f OO~892

[lq.. PageI of7 FL

AIL'd,203GN(FL)(Ot06)

,
-='

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•..

I will make my monthly payments on. the 1st day of each month beginning on January 1, 2007
I will make these payments every month until I have paid all of the principal and interest and any other charges
described below that I may owe under this Note. Each monthly payment will be applied to interest before
Principal. If, on December 1 ( 2046 I still owe amounts under this Note, I will pay those
amounts in full on that date, which is called the "Maturity Date".
I will make my monthly payments at po Box 66"0029 Da" as TlC 75266:Q029
_________________ -'orala dlffcrent place if required by the Note H older.
(B) Amount of My Initial Monthly Payments
Each of my monthly payments until the first Payment Change Date will be in the amount of U.S.
$ 809.14 .» unless adjusted at an earlier time under Section 4(H) of this Note.
(C) Payment Changes
My monthly payment wilt be recomputed, according to Sections 4(B)(F)(G)(H) and (1) of this Note, to reflect
changes in the Principal balance and interest rate that I must pay. The Note Helder will determine.my new
interest rate and the changed amount of my monthly payment in accordance with Section 4 of'this Note:

4. INTERES'rRATEAND MONTHLY PAYMENT CHANGES

(A) Change Dates
The Interest rate I will pay may funher change on the 1.9 t day of January
2007 and on that day every month thereafter.
, Each such date on which my interest rate could change'
is called a "Change Date."
(B) The Index
On each Change Date, my interest rate will be based on an Index The "Index:" is the Twelve-Month
Average, determined as set forth below, of'the annual yields on actively traded United StatesTreasnry Securities
adjusted to a constant maturity of one year as published by the Federal Reserve Board in the Fedeml Reserve
Statistical Release entitled "Selected Interest Rates (H. 15)" (the "Monthly Yields"). The Twelve-Mouth Average
is determined by adding together the Monthly Yields for the most recently available twelve months and dividing
~U .
The most recent Index figure available as 111<::15 days before each interest rate Change Date is called the
"Current Index". If the Index is no longer available, the Note holder will choose a new index which is based upon
comparable information. The Note Holder will give me notice of this choice.
(C) Calculation of Changes
Before each Change Date, the .Note Holder will calculate my new interest rate by adding .--c----,.-
..!tl:u:M....and....!l:l:l.re·$ Q"arte percentage points 3 750 % ("Margin") to the
Current Index. The Note Holder will then round the result of this addition to the nearest one-thousandth of one
percentage point (0.001). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new
interest rate until the next Change Date. In the event a new Index is selected, pursuant to paragraph 4(B), a new
Margin will be determined. The new Margin will he the difference between the average of the old Index far the
most recent three year period which ends on the last date the Index was available plus the Margin.on the last date
the old Index was available and the average of the new Index for the most recent three year period which ends on
that date (or if not available for such three year period, for such time as it is available), 'This difference will be
rounded to the next higher 118 of 1 %.
(D) Interest Rate Limit
My interest rate will never '~e greater than ..--Nine aod <150 ThO!!wodtha......: ..__· __ ' _.--'--..
_--,_-,--,-- 'percentage points 9.950 % ("Cap"), except that following any sale or
transfer of the property whioh secures- repayment of this Note after. the first Interest rate Change Date, the

P'ge2.f7 PI-
nee it 944153/:\:""9'" .944753.prn AWV QQ09'isn JUIj\{.2030N(FL) (0105)
 ••••
-- ••
-·-- .. - •.••••••••
__ m __ ••
_. _

. :.
maximum interest rate will be the higher of the Cap or 5 percentage points greater than the interest rate in effect at
the time of such sale or transfer,

(E) Payment Change Dates

Effective every year commencing January 1, 2008 and on the same
date each twelfth month thereafter ("Payment Change Date"), the Note Holder will determine the amount of the
monthly payment that would be sufficient to repay the projected principal balance I am expected to owe as of the
Payment Change Date in ihll on the Maturity Date at the interest rate that will become effective one month prior
to the Payment Change Date In substantially equal payments. The result of this calculation is the new amount of
my monthly payment, subject to Section 4(F) below, and I will make payments in the new amount until the next
Payment Change Date unless my payments are changed earlier under Section 4(H) of this Note.
(F) Monthly Payment Limitations
Unless Section 4(H) and 4(1) below apply, the amounts of my new monthly payment, beginning with a
Payment Change Date, will be limited to 7 Yz% more or less than the amount I have been paying. This payment
cap applies only to the principal and interest payment and does not apply to any escrow payments Lender may
require under tho Security Instrument.
(G) Changes in My Unpaid Principal Due to Negative Amortization or Accelerated Amortization
Since my initial monthly payment will be based on the Initial Rate, which may be different than the
Subsequent Rate, my initial monthly payment could be less or greater than the amount of the Ioterest portion (the
"Interest Portion") of the monthly principal and interest payment that would be sufficient to repay the unpaid
Principal I owe in full on the Maturity Date in substantially equal payments; Additionally, since my payment
amount changes less frequently than the interest rate and since the monthly payment is subject to the payment
limitations described in Section 4(F), my monthly payment could be less or greater than the amount of the Interest
Portion. For each month that the monthly payment is less than the Interest Portion, the Note Holder will subtract
the montbly payment from the amount of the Interest Portion and will add the-difference to my unpaid Principal,
and interest will accrue onthe amount of this difference atthe current interest rate. For each month that the'
monthly payment is greater than the Interest Portion, the Note Holder will apply the excess towards a principal
reduction of the Note.
(H) Limit on My Unpaid Principal; Increased Monthly Payment
My unpaid Principal can never exceed a maximum amount equal to 125 OQP% of the principal amount
originally borrowed, In the event my unpaid Principal would otherwise exceed that '125. 000% limitation, I
will begin paying a new monthly payment until the next Payment Chango Date notwithstanding the 7 ~'z%annual
payment increase limitation. '111enew monthly payment will be an amount which would be sufficient to repay my
thenunpaid Principal in full on the Maturity Date at the interest rate in effect one month prior to the payment due
date in substantially equal payments. '.
(1) Required Full Monthly Payment
On the Five anniversary of the due date of the first monthly payment, and 'on that same day every
Five year thereafter.jhe monthly payment will be adjusted. without regard to the payment cap
limitation in Section 4(F).
(J) 'Notice of Changes
The Note Holder will'deliver or mail to me a notice of any changes in the amount of my monthly payment
before the effective date of any change. The notice will include information required by law to be given me and
also the title and telephone number of a person who will answer any question I may have regarding the notice.
(K) Fallure to Milke Adjustments
[f for any reason Note Holder fails to make an adjustment to the interest rate or
payment amount as described
in this Note, regardless of any notice requirement, I. agree that Note Holder may, upon discovery of such failur~>
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,
then make the adjustment as if they had been made on time. I also agree not to hold Note Holder responsible fur
any damages to me which may result from Note Holder's failure to make the adjustment and to let the Note
Holder, at Its option, apply any excess monies which I may have paid to partial Prepayment of unpaid Principal,

5: BORROWER'S RIGHT TO PREPAY

I have the right to make payments of Principal at any time before they arc due. A payment of Principal only
is known as a "Prepayment". When I make a Prepayment, 1will tel! the Note Holder in writing that J am doing
so. I maynot designate a payment as a Prepayment if I have not made all the monthly payments due under the
Note.
I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note
Holder will apply all of my prepayments to reduce the amount of Principal that I owe under this Note. However,
the Note Helder may apply my Prepayment to the accrued and unpaid interest on thePrepayment amount, before
applying my Prepayment to reduce the Principal amount of the Note. If! make a partial prepayment, there will be
no changes in the due dates of my monthly payments unless the Note Holder agrees in writing to those. changes.
My partial prepayment may have the effect of reducing the amount of my monthly payments, but only lifter the
first Payment Change Date following my partial Prepayment. However, any reduction due to my partial
Prepayment may be offset by an interest rote increase. . ,

6. LOAN CHARGES
If a law, which applies to this loan and which. sets maximum loan charges, is finally interpreted so that the
interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits,
then: (a) any St.lCU loan charge shall be reduced by the amount necessary to reduce the charge to the permitted
limit, and (b) any sums already collected from me which exceeded permitted limits will be refunded to mo. The
Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a
direct payment to me. If a refund reduces Principal, the reduction-will be treated as a partial Prepayment.
Miscellaneous Fees: I understand that the Note Holder will also charge a return item charge, in an amount
permitted and otherwise in accordance with, Applicable Law in tho event a payment that I make in connection
with repayment of th.is loan is not honored by the financial institution on which it is drawn. Lender reserves the
right to change the fee from time to time without notice except as may be required by law.

7. BORROWER'S FA1'LURE TO PAY AS REQUIRED

(A) Late Charges for Overdue Payments
If the Note Holder has no! received the full amount of any monthly payment by the end of
15 __ calendar days after the date it is due, I wilt pay it late charge to the Note Holder. The
amount of the charge wilf be ...__ ~..•:.Q.Q.'(L •.<% of my overdue payment of Principal and interest. I will pay this late
charge promptly but only once for each late payment.
(B) Default
[£1 do not pay the full amount of each monthly payment on the date it is due, I wiIi be in default.
(C) Notice of Default
am
If I in default, the Note 'Holder may send me a written notice telling me that if'I do not pay the cverdue
amount by a certain date, the Note Holder may require me to pay Immediately the full amount of Principal which
has net been paid and all the interest that I owe on that amount. That date must be 'at least 1() days after the date
on which (he notice is delivered or mailed to me (or, if the Federal National Mortgage Association or the Federal.'
Home Loan Mortgage Corporation buys all or part of under's rights under the Security Instrument, in which case
the notice will specify a date, not less than 30 days from the date the notice is'given to Borrower).

Page4()f1 FE-
pee j/ 9447$51!~9'" %475S.p::;n App# ooo~n AlIM.2030N(FL){0106)
 · ~-- _- _ -._-_._
.. ..__ __ ...•...... _---_ _ .. .. _------

.' '

(D) No Waiver By Note Holder

Even if, at a time when. I am in default, the Note Holder does not require me to pay immediately in full as
described above, the Note Holder will still have the right to do so if! am in default at a later time. .

(El Payment ofNote Holder's Costs and Expenses

If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have
the right to be paid back by me for all of its costs and expenses in enforcing this Note, whether or not a lawsuit is
brought, to the extent not prohibited by Applicable Law. Those expenses include, for example, reasonable
attorneys' fees. .

8, GIViNG OF NOTICES
Unless Applicable Law requires a different method, any notice that must be given to me under this Note will
be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different
address if! give the Note Holder a notice of my different address.
Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class
mail to the Note Holder at the address stated in Section 3(A) above or-at a different address if I am given a notice
of that different address.

9. OllLIGATIONS OF PERSONS lJ"NbER THIS NOTE

If more than one person signs this Note, each person is fully and personally. obligated to keep all of the
promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor,
surety, or endorser bfthis Note is also obligated to do these things. Any person who takes over these obligations,
including the obligations of a guarantor, surety, or endorser of this Note, is also ob ligated to keep all of the
promises made in this Note. The Note Holder may enforce its rights under this Note against each person
individually or against all of us together, This means that anyone of us may be required to pay all of the amounts
owed under this Note.

10. WAIVERS
I and any other person who has obligations under this Note waive the rights of presentment and notice of
dishonor. "Prescntmeat" means the right to require the Note Holder to demand payment of amounts due, "Notice
of Dishonor" means the right to require the Note Bolder to give notice to ethel' persons that amounts due have not
been paid,

11. 1JNIFORM SECURE.D NOTE

This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections
given to the .Note Holder under this Note, a Mortgage, Deed of Trust or .Security Deed (the "Security
Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result if
I do not keep the promises which I make in this Note. That Security Instrument describes how and under what
conditions I may be required. to make immediate payment in full of all amounts I owe under this Note. Some of
those conditions are described as follows: .
Transfer of the Property or a Beneficial Interest in Borrower.
If all or any. part of the Property or any interest in the Property is sold or transferred (or jf a
beneficial interest in' Borrower is sold 01: transferred and Borrower is not' a natural person) without
Lender's prior ",'fitton consent, Lender may require immediate payment in full of all sums secured by this
. pago S Qf7 FL
Doc ~ 944~156/Ima\le, ~H7S6.Prn App#000_92 ,AllM.2030N(Fl.) (OlM)
-:-

._-_ __
.. _ _-- __ .

Security Instrument, However, this option shalt not be exercised by Lender if such exercise is prohibited
by Applicable Law. Lender also shall not exercise this option if: (a) the request to assume is made after
one year following recordation or the Deed of Trust, (b) Borrower causes to be submitted to Lender
information required by Lender to evaluate the intended transferee as if a new loan were being made to the
transferee; and (c) Lender reasonably determines that Lender's security will not be impaired by the loan
assumption and that the risk of a breach of any covenant or agreement in this Security Instrument or other
obligations related to the Note or other loan document is acceptable to Lender, (d) Assuming party
executes Assumption Agreement acceptable to Lender at its sale choice and discretion, which Agreement
may include an increase to Cap as set forth below and (6) payment of Assumption Fee if requested by
Lender..
To the extent permined by Applicable Law, Lender may charge a reasonable fee as a condition to
Lender's consent to the loan assumption and Lender may increase the maximum rate limit to the higher of
the Cap or 5 percentage points greater than the interest rate ill effect at the time of the transfer. Lender may
also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates
the transferee to keep all the promises and agreements made in the Note and in this Security Instrument,
Borrower will continue to be obligated under the Note and this Security Instrumentunless Lender has
entered into a written Assumption Agreement with transferee and formally releases Borrower.
If Lender exercises this option, Lender shall give Borrower. notice of acceleration. The notice
shall provide a period of not less than 30 days from the date the notice is given in accordance with Section
15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay
these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this
Security Instrument without further notice or demand on Borrower.

12. MISCELLANEOUS PROVISIONS

In the event the Note Holder at any time discovers that this Note or the Security Instrument or any other
document related to this loan, called collectively the "Loan Documents." contains an error which was caused by a
clerical or ministerial mistake, calculation error, computer error, printing error or similar error (collectively
"Errors"), I agree, upon notice from the Note Holder, to reexecute any Loan Documents that are necessary to
correct any such Errors and I also agree that I will not hold the Note Holder responsible for any damage 10 me
which may result from any such Errors.
If any of the Loan Documents arc lost, stolen, mutilated or destroyed and the Note Holder delivers to me an
indemnification ill my favor, signed by the Note Holder, then I will sign and deliver to the Note Holder a Loan
Document identical in form and content which will have the effect of the original. fur all purposes. '

13. DOCUMENTARY TA...X

The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness,

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Doc 3 944'7S7/Ima9Q, 944?S1.pm 1\pp#.00_892 AlL\f ..203QJ\'(FL) (0106)
.,.

._--_._ _----_ .

'I·'

_______ .,-- (Seal)

-Bcrrcwer

{Seal) . ---...:CSeal)
-Bcrrewer -Bcrrcwer

___ (Seal) ____________ (Seal)

•.Bssrower -Berrcwer

__________ (SeaI) ____ ,-- ~ __ (Seal)

-Bcrrcwer .Borrower

fAYTO'l1lt DRIJEi/ OF

J1¥.

. Plg.1 of7 FL
nee J 9~4758/I"'age: 944758.prn IIppi OO~93 AHM-2030N(FL} (0106)
>

---- ---------~~------~--.-----------.-~---~----

"""" ••••••••••• r 000 Type .MG, Pages 2, Reoo!'ceQ. "&1 9 _at 08,2;1 llliI,
Charlie Gree", La" County cl"r~ of Cirouit court, Rae. :reEl $18,50 Deputy
Clerj< l1NOL1\N
,:::~
.•
t \'i

Dccoment Prepared By:

Ron M.harg, 888--36<·%38
:'J:c:", , \¥h:n Recorooo .Return T~;
POCX
llUAtdermflnDr.
Su!r.3Sa
A!Qbaretta. GA 30005
I ARM'\' I
647 I 3W0445

CR,flM51Z0IZQ09·~IM6;A031·rOF
D.,,,nSlU81Z009·}>rirt! Datch lD:S669

{>(lERS Ti;l-cpbatH: #: 858/679-6311

Property Addre.'tS:
4310 I'ERTH CT
NORTH FORT MYFllS, FL 33903
fU(::I"kf<],C {Il;o'l'f1OO9 C«mitbl{c}U'L~t?.fOC,cxt.LC

ASSIGNMENT OF MORTGAGE
FCR Gc.oll AND VAJ,tJAIlL"&CCmS!J)lIRA TI01'1, the receipt and surr."lenc~-cfwhich Is hereby
.cknowl::dgod, MORTGAGE ELECTRONIC llEGlSTMTION SYSTEMS,INC, AS NOMINEE FOil.
AMERlCAN :aEOKERS CONDUIT whese address is 65U1 Irvin' Center Dflvt,lfVtnt, CA 9.1618. aces
1

by tr,\:'se presents: hereby §rd.iJ4 bergaln, self, asstgn. transfer, eonvey, set ever and deliver unto Deut;tche 8!!.nk
NatlotJa!'tril3t Cempeny as Trustee rcr American Home Mortgage .usets Tnut l001--1
M(!rtg~ge~.BSI.~kcdPU$s-Thrttugh Ccrtifi.C:ttes, Serfes 20O-1~1,whose address Is 17(:ilEast St, Andrcw Place
.•::v.~1 Santa- Ane, CA 9210,5..-4934 the f()Jl()Wirlgd~)t:rlhed mortgage, securing Ihe payment-ora certaln promIssory
1

I"Icte(,<;} for the sum Hskd below, togeiher with all dghts therein and tbcreto, all I!eM created Or S1;tU."'Cd1hereby*
all obUgatitns therein described, the mC;1CY due and to become due thereon witlt jr)t~(~ and all rights accrued
¢r to accrue uncle!" ,*U1!h mortgage.
jil'"" BO'"""'$5); ,A h1\RRlED WOMAN, JOiNED BY HeR SPOUSE

Or;g'o,lM<>rtgag«: MORTGAGE ELE(''TRONIC REGISTRATION SYSTEMS. INC., AS NOMlNEIl

'i' F01\ AMElUCAN l1HOKERS CONlJUll'
Date ofMortg.ge: 1lI0B12Ufi6 Loan Amo",,!: $.120,000,00
'- ll<c,tding Dale: J:IIo;vz006 Book: N/A Page: NtA' Document #: 20()60004Sl34S
Misc. Comm'nts: ASSIGNME.NT El!l',ECTlVE DATE Sr1t1.00~ ,
!.EGAL DllSCRJ1'TION: P l
MAP OR PLAT TIlEREOF, AS RECORDED IN PLAT EOO 28, PAGE 36, OF 'flIl> PUEMC
CCORDING TO 'filE

llECOHDS OFr,EJ! COmiTY, }LoliwA. ' .'

and reecrded in the cfflctal records of the Cuunt)' of Lee, State ofFturJda affecting Real Prop..,'"rt1 end more
particularly described Qf1 seld Mortgage refbrrd. IQ herein.
IN \VITNESS \VUEREOF the u.r.dc.r.sigtw.l has caused these presents to be executed on this date fJf
l

'1Z009.

J-~

~.~ Hfh1.L.-
Witncss: Chrhtina Huang it
~V0~~:::::.' '1"::;:;-"-----_
Tywalm. Thorn as
AS$t. Secretary

.1.•'.:_

r'y,i..:,