Case 1:15-cv-00293-LTS-RWL Document 429-23 Filed 09/30/19 Page 1 of 13

PLAINTIFF’S EXHIBIT 23
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From: James W Rathkey

To: Patrick M Boyle
CC: Craig F Hart
Sent: 2/8/2010 4:00:16 PM
Subject: RE: Lenders Insurance Funds

Per my instructions last year, I send a report to Loss Recovery Support to detail accounts submitted for recovery as
well as those paid and denied. Most recent report was submitted last week and provides the account break down of
those accounts that were paid by Lenders Credit. Do I need to submit this report to you or any other individuals that
would not get the report from Loss Recovery Support mail box? Here is a copy of that email I sent last week:

-
Submitted Claims VLS# Claim Amt Status
$247,796.05 Pending
$72, 151.50 Pending
$350,000.00 Pending
$350,000.00 Denied

--
Denied Claims

- Claims Paid VLS# Amt Received

$ 242,298.46
$ 353,391.58
$ 152,430.73
$ 252,664.48
$ 268,471.50
$ 278,852.97
$ 351,751.97
$ 159,248.18
$ 170,539.24
$ 252,664.48
$ 126,655.52

Jim Rathkey

Tel: 602-221-2284

Fax: 866-342-1737

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From: Patrick M Boyle

Sent: Monday, February 08, 2010 8:16 AM
To: Craig F Hart; Jeffrey S McGrane
Cc: James W Rath key; Jill M Simons; Jim E Tyler
Subject: RE: Lenders Insurance Funds

Ok. That makes sense.

I am going to have my admin set up some time to discuss the process. Will send the invite to you; you forward as
necessary. Thanks.

Mike

Mike Boyle

Vice-President, Loss Mitigation and Recovery

1820 E. Sky Harbor Circle S

Phoenix, AZ 85034

Mail Code AZ1-2514

602-627-2489 (office)

602-910-3326 (fax)

From: Craig F Hart

Sent: Monday, February 08, 2010 8:00 AM
To: Patrick M Boyle; Jeffrey S McGrane
Cc: James W Rath key; Jill M Simons; Jim E Tyler
Subject: RE: Lenders Insurance Funds

Mike,

I was on the phone when you called.

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If we can buy back the loan I would say the charge would go against LLR. That is where the dollars should have gone
when we sold the loans.

We credit LLR on the GL. Notice is supposed to be sent to the Recovery (Chad Paxton) team. FYI I just received
$2.4M M of claim funds last week.

From: Patrick M Boyle

Sent: Monday, February 08, 2010 9:30 AM
To: Craig F Hart; Jeffrey S McGrane
Cc: James W Rath key; Jill M Simons; Jim E Tyler
Subject: RE: Lenders Insurance Funds

Hey Craig, would like to talk about this one. I did call the number below but got a voice mail that was not yours, so did
not leave my name. LMK when you will have some time and we will try to sync up.

Couple quick questions in the meantime.

We can reach out to the investor to negotiate a buy back on this loan. Question, who pays the money to get that
back?

When the monies for the insurance come in, are they applied to recoveries? If not, where and why not?

Look forward to learning more!

Mike

Mike Boyle

Vice-President, Loss Mitigation and Recovery

1820 E. Sky Harbor Circle S

Phoenix, AZ 85034

Mail Code AZ1-2514

602-627-2489 (office)

602-910-3326 (fax)

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From: Craig F Hart

Sent: Monday, February 08, 2010 6:44 AM
To: Patrick M Boyle; Jeffrey S McGrane
Cc: James W Rath key; Jill M Simons; Jim E Tyler
Subject: RE: Lenders Insurance Funds

Mike,

Just for your information, HE purchases Lender's Credit insurance on almost every loan we close. Only exception is, I
think, if the loan balance is below $25K.

My records indicate that we filed the claim 6/08 and we were paid 9/29/09. The amount was $135,604. The total
principal on this account was $250,000. We settled with the insurer for 54% on the dollar due to a negotiated
settlement with this claim and five others. When we got paid by the insurer we assign the loan to them, so they can
pursue collection.

Call me to discuss. I can be reached today at 317-236-5711, but have no voicemail.

Craig Hart

614-244-1909

From: Patrick M Boyle

Sent: Sunday, February 07, 2010 9:06 PM
To: Jeffrey S McGrane; Craig F Hart
Subject: RE: Lenders Insurance Funds

Jeff/Craig, if I understand the comments below ...... .

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We sold a loan that was covered with this insurance

We are in line to get paid off on this account (or has the money been received already?)

In order to get our monies, we would have to buy back the loan from the investor, which given the time that has
passed, will also include some incremental monies due to "effort spent"

One we paid to get it back, these insurance monies would be allocated to the account, paying off the indebtedness
(all or part)

My questions.

What are the dollars we are talking about here?

Why can we not send the insurance monies directly to the investor, and apply any "additional "funds to the
remaining deficiency balance that is on our books?

For future consideration, how can we tell what accounts have this insurance so that we don't get into a situation to
sell these loans?

Help me understand the above so I will have an idea on what to do from here.

Thanks.

Mike

Mike Boyle

Vice-President, Loss Mitigation and Recovery

1820 E. Sky Harbor Circle S

Phoenix, AZ 85034

Mail Code AZ1-2514

602-627-2489 (office)

602-910-3326 (fax)

CONFIDENTIAL / SUBJECT TO PROTECTIVE ORDER JPMC-MRS-00387342

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From: Jeffrey S McGrane

Sent: Monday, February 01, 2010 11:22 AM
To: Patrick M Boyle
Subject: FW: Lenders Insurance Funds

Mike,

This is something Chad had looked at. See email chain below and advise.

Thanks

Jeff McGrane - Chase Home Finance - Recovery Supervisor - Phone 480-902-6952 - Fax 602-680-1452

From: Craig F Hart

Sent: Monday, January 25, 2010 6:32 AM
To: Jeffrey S McGrane; Chad G Paxton; Jill M Simons; James W Rathkey
Cc: Jim E Tyler
Subject: RE: Lenders Insurance Funds

Jeff,

I think that Jill and James need to make that decision.

From: Jeffrey S McGrane

Sent: Saturday, January 23, 2010 8:50 AM
To: Craig F Hart; Chad G Paxton; Jill M Simons; James W Rathkey
Cc: Jim E Tyler
Subject: RE: Lenders Insurance Funds

Craig,

My understanding is there was several lists provided for loans the bank wanted back from the sale
but this loan was never on there. What kind of settlement are we willing to offer the investor?

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Thanks Jeff

Jeff McGrane - Chase Home Finance - Recovery Supervisor - Phone 480-902-6952 - Fax 602-680-1452

From: Craig F Hart

Sent: Friday, January 22, 2010 12:35 PM
To: Chad G Paxton; Jill M Simons; James W Rathkey
Cc: Jeffrey S McGrane; Jim E Tyler
Subject: RE: Lenders Insurance Funds

My records indicate that we filed the claim 6/08 and we were paid 9/09

From: Chad G Paxton

Sent: Friday, January 22, 2010 2:24 PM
To: Jill M Simons; Craig F Hart; James W Rathkey
Cc: Jeffrey S McGrane; Jim E Tyler
Subject: RE: Lenders Insurance Funds

It was an isolated event.

From: Jill M Simons

Sent: Friday, January 22, 2010 1:22 PM
To: Chad G Paxton; Craig F Hart; James W Rathkey
Cc: Jeffrey S McGrane; Jim E Tyler
Subject: RE: Lenders Insurance Funds

Sound like this loan should not have been sold . It needs to be bought back from Mtg Resolution while there is no
loss to Chase. As a result it should not have been included in the bulk sale.

How can we prevent this from happening again? I don't think we are in the business of giving away free money and
incurring a loss at the same time.

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Jill Simons . CFE CAMS

VP.. Fraud Manager

JPMorgan Chase

PH.. 904-620-6991

Fax.. 1-866-904-4253

From: Chad G Paxton

Sent: Friday, January 22, 2010 2:14 PM
To: Craig F Hart; James W Rathkey
Cc: Jeffrey S McGrane; Jill M Simons; Jim E Tyler
Subject: RE: Lenders Insurance Funds

I assume since it was sold and we trasnfered the deed to them as the "owner "they are entitled to th einsurance
proceeds. They would then assign the loan to the insuracne company that is paying the claim

From: Craig F Hart

Sent: Friday, January 22, 2010 1:07 PM
To: James W Rathkey
Cc: Jeffrey S McGrane; Chad G Paxton; Jill M Simons; Jim E Tyler
Subject: RE: Lenders Insurance Funds

Jim,

Looks like we sold a loan that shouldn't have been sold. If we can't assign assume XL won't pay us.

Jeff &Chad,

Is there any way to remove this or negotiate a settlement with the buyer?

From: James W Rathkey

Sent: Friday, January 22, 2010 1:55 PM
To: Craig F Hart
Cc: Jeffrey S McGrane; Chad G Paxton; Jill M Simons
Subject: RE: Lenders Insurance Funds

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Craig, can you help explain how were will handle this transaction. XL has agreed to pay our loan off; however, it
appears this account was included in a bulk sale to Mortgage Resolution Services last year. It is my understanding
that the accounts in the bulk sale were sold well below the balances outstanding, so obviously we would want not want
to send the full XL payment to Mortgage Resolution Services. Any help you can provide is appreciated.

Jim

From: Jeffrey S McGrane

Sent: Friday, January 22, 2010 11:47 AM
To: Chad G Paxton
Cc: James W Rathkey
Subject: RE: Lenders Insurance Funds

James,

Please advise how this works?

Jeff McGrane - Chase Home Finance - Recovery Supervisor- Phone 480-902-6952 - Fax 602-680-1452

From: Chad G Paxton

Sent: Friday, January 22, 2010 11:27 AM
To: Jeffrey S McGrane
Cc: James W Rathkey
Subject: RE: Lenders Insurance Funds

no we need to send this to the purchaser of this loan and they need to assign it. they also get the money

From: Jeffrey S McGrane

Sent: Friday, January 22, 2010 11:50 AM
To: Chad G Paxton
Cc: James W Rathkey
Subject: Lenders Insurance Funds

Chad,

Loan . Chase applied for and got Lenders Insurance Claim funds. In order

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to get those funds Chase has to assign the mortgage to the insurance carrier. This loan was Sold as part of the Bulk
Sale prior to Chase getting approval and payment of funds. The loan was assigned to Mortgage Resolution Services
03/2009. This loan wasn't on the list of accounts we recalled from the Bulk sale.

My concern is since we assigned the mortgage deed 03/2009 do we have the right to assign it again to the insurance
carrier since this came after 03/2009?

James,

I know we talked about this couple weeks ago and I can't recall the amount of insurance funds
and/or the date you assigned note? Please advise.

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File Edit View Tools Session Op,tions Help

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Jeff McGrane - Chase Home Finance - Recovery Supervisor- Phone 480-902-6952 - Fax 602-680-1452

CONFIDENTIAL / SUBJECT TO PROTECTIVE ORDER JPMC-MRS-00387349