61 - Wolf v. WELLS - Oral Deposition of Marie McDonnell October 2, 2012

Filed 13 May 6 P1:10
Chris Daniel - District Clerk

10/2/2012
Harris County
ED101J017469188
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By: Wanda Chambers
MARIE MCDONNELL
CAUSE NO. 2011-36476
VS.
WELLS FARGO BANK,

N.A., as Trustee for
Carrington Mortgage
Loan Trust, Series
2006-NC3 Asset Backed
Pass-Through
Certificates, et al
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ORAL DEPOSITION OF
MARIE MCDONNELL
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OCTOBER 2, 2012
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ORAL DEPOSITION of MARIE MCDONNELL, produced as

a witness at the instance of the Defendants, and duly
sworn, was taken in the above-styled and numbered
cause on OCTOBER 2, 2012, from 9:10 a.m. to
10:28 p.m., before Mendy A. Schneider, CSR, RPR, in
and for the State of Texas, recorded by machine
shorthand, at the offices of HUGHES ELLZEY, LLP,
2700 Post Oak Boulevard, Suite 1120, Houston, Texas,
pursuant to the Texas Rules of Civil Procedure and the
provisions stated on the record or attached hereto;
that the deposition shall be read and signed.
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151ST JUDICIAL DISTRICT
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HARRIS COUNTY, TEXAS
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IN THE DISTRICT COURT OF
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MARY ELLEN WOLF and

DAVID WOLF
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U.S. LEGAL SUPPORT - HOUSTON

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MARIE MCDONNELL
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A P P E A R A N C E S
FOR THE PLAINTIFFS:

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MR. W. CRAFT HUGHES

HUGHES ELLZEY, LLP
2700 Post Oak Boulevard, Suite 1120
Houston, Texas 77056
(888) 350-3931
Craft@CraftHughesLaw.com
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FOR THE DEFENDANTS:
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MR. PETER C. SMART

CRAIN, CATON & JAMES, P.C.
1401 McKinney, Suite 1700
Houston, Texas 77010
(713) 658-2323
psmart@craincaton.com
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MARIE MCDONNELL
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EXAMINATION INDEX
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WITNESS:
MARIE MCDONNELL
EXAMINATION
BY MR. SMART
BY MR. HUGHES
SIGNATURE REQUESTED
REPORTER'S CERTIFICATION
PAGE
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EXHIBIT INDEX
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MCDONNELL EXHIBIT NO. 2

Report
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MCDONNELL EXHIBIT NO. 1

Affidavit
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PAGE
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MARIE MCDONNELL
10/2/2012
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having been first duly sworn, testified as follows:
(Marked McDonnell Exhibit Nos. 1 and 2.)
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E X A M I N A T I O N
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MARIE MCDONNELL,
BY MR. SMART:
Q.
What is your name, please?
A.
My name is Marie McDonnell, spelled
M-C-D-O-N-N-E-L-L.
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Q.
Ms. McDonnell, what do you do for a living?
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A.
I am a mortgage fraud and forensic analyst
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and a certified fraud examiner.
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Q.
And do you have a college degree?
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A.
I do.
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Q.
And when did you get that college degree?
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A.
1970.
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Q.
And where did you get it?
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A.
Merrimac College.
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Q.
And where is Merrimac?
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A.
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Q.
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North Andover, Massachusetts.

And what was -- was it a bachelor's degree?
A.
Yes.
Q.
And what was the major or what was the
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bachelor in?
In what?
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A.
Political science.
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Q.
Did you have a minor?

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A.
I -- I did, yes; which, actually, I started
out as a biology major; so, I -- I actually have more
science and math and biology courses than political
science, but that's the degree.
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So, you have a -- you have a major and a
degree in political science, and you have a minor in
biology?
A.
Yes.
Q.
And do you have any postgraduate degrees?
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A.
No.
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Q.
And do you have any certificates or licenses
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Yes.
I have a real estate broker's license
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of a professional nature?
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in Massachusetts, and I've achieved several
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designations; most recently, from the Association of
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Certified Fraud Examiners, the designation of
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certified fraud examiner.
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I am also a certified real estate
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exchange consultant, and I've achieved the graduate
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realtor institute designation from the National
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Association of Realtors.
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Q.
Is that a sampling or is that -- is that the
entirety?
A.
That's what I recall at the moment in terms
of designations from other trade associations.

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Q.
When did you get your broker's license?
A.
I believe that was January of 1988.
Q.
Did you work in real estate from the time you
graduated in '70 until '88, or did you do other
things?
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A.
No, I did other things.
Q.
What -- what -- what -- professionally, what
did you do between the time you graduated and the time
you started working in a -- in a real estate-related
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A.
Uh-huh.
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field?
Well, in 1970, I married, had three
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children.
So, I was a stay-at-home home for about
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seven years.
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cottage industry business which was a handcraft
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manufacturing of my own design work.
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After that, I started my own home-based
That actually gave me a lot of business
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experience.
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cities in the United States where I had manufacturers'
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representatives representing my product.
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to the Philippines for about five weeks in 1981, where
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I worked with a manufacturer there and licensed my
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designs.
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business.
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It required that I travel to various
It took me
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Q.
So, it -- it gave me a basic background in
And when did you start working in the real
estate field?

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A.
I obtained my real estate salesperson's
license in late 1986 and apprenticed for a year under
a real estate broker and investor who was also a real
estate developer.
then, formed my own consulting practice as Marie
McDonnell, Real Estate Counselor and conducted that
from about 1988 through 1991, when I changed my d/b/a
to The Mortgage Counselor.
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Q.
I'm going to show you what's marked as
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After the year's apprenticeship, I,
Exhibit 1, which is an affidavit that I think you
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signed.
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that you signed.
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If you'll confirm that that's your affidavit
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Yes.
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Q.
Looking at -- we're going to go over this a
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little bit, and I'll ask some questions about some of
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the things that -- that you've said in this affidavit.
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Looking at Item 2 on the first page, you
say in this affidavit that you are a -- a
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credentialed, certified fraud examiner.
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that?
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Do you see
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A.
I do.
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And who -- who gives that -- that -- when you
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say "credentialed," does that -- that means you -- you
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have a certificate?
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A.
Yes, I do.

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Q.
Okay.
And who -- who is -- what the body?
Can you talk a little bit about the body that gives
this certificate?
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The Association of Certified Fraud Examiners,
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which I believe is headquartered right here in Texas;
Austin, I believe.
association that provides very specialized training,
education, educational materials to individuals who
are involved in some capacity in investigations, fraud
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And this is a -- an international
examination.
Its members consist of attorneys,
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accountants, fraud examiners for insurance companies,
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various departments of state and federal government;
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quite a varied body of professionals.
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It's not only people who work in real estate?
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No, not at all.
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Q.
What does one have to do to receive the
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certificate that you received, which is, I think, a
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certified fraud examiner?
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Yes.
They require a certain educational
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background -- I believe, at least five years of field
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experience working under a more experienced
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professional -- three letters of recommendation from
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existing members of the Association of Certified Fraud
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Examiners or otherwise, I believe; and I had to take
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an examination that required that I have a basic
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MARIE MCDONNELL
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knowledge and comprehension of various aspects of
fraud examination and interview techniques and various
other things.
Q.
In that same sentence in Item 2, you -- where
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you say, "I'm a mortgage fraud and forensic
analysis" -- "analyst" -A.
Analyst, uh-huh.
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-- are those -- is that -- are those two
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categories or one category, mortgage fraud and

forensic analyst?
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Is that two different things or -- or
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one thing?
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It's -- I would say both.
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Q.
So, it -- it could be two things?
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A.
Yes.
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All right.
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forensic analyst.
When you say you're a forensic analyst,
what -- what does that mean?
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you do as a forensic analyst?
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What does a -- what do
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I have dedicated my practice to essentially
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understanding real estate and real estate financing
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transactions; so, essentially, although I do have the
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capability of looking at other types of documents or
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information and to -- to be able to understand that

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information to fill in missing gaps and so forth,
essentially, my practice is focused in the area of
real estate and real estate finance.

In terms of answering your question
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about what is a forensic analyst, by that, I mean it
would be a body of existing information or data or
contracts, and there will be a -- often a body of
information concerning a certain transaction.
able to look at all of that information and determine
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I am
other information that might be missing or where those
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particular documents or information fits in on a time
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line and often reconstruct missing data that helps me
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and others to -- to understand the transaction.
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So, it's -- it's an exercise and an
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ability to understand not only what is there but what
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isn't there.
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So, you -- I don't want to put words in your
mouth, but it sounds like you analyze real estate
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transactions.
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part.
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And that's not -- that's the analyst
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What is forensic?
What does -- in your
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own words, what is -- how does "forensic" come into
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play, as an analyst, in what you do?
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Well, forensic science is -- can be applied
to many different fields, of course, both on the

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MARIE MCDONNELL
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criminal, civil side; but what "forensic" actually
is -- means is looking back historically at some event
that happened -- or in my case, it could be looking at
a particular document, such as a mortgage note -- and
looking at other evidence that relates to that note or
the servicing of that note and putting all of those
pieces together, including, as I say, missing pieces
that I can reconstruct through my understanding and
forensic analysis.
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And how long have you been doing the forensic
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analyzing of real estate transactions?

A.
For 25 years.
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Okay.
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And what percentage of your -- of your
professional practice is -- do you consider your --
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you're doing forensic -- working as an forensic
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analyst?
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Actually, at this point, I would say, a
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hundred percent of the time, that's what I'm doing.

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And what -- do you have any education in
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forensic -- being a forensic analyst, or is it just
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on-the-job training?
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Well, there -- there is no doubt that my 25
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years of experience in the field is the primary
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qualifier for the work that I do and for my level of
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achievement.
That is an -- it constitutes an

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irreplaceable body of knowledge and firsthand
experience.
But, to your answer your question, yes,

I have taken specific training from the Association of
Certified Fraud Examiners, from various bar
associations, from banking compliance concerns.
belong as well to a Listserv of attorneys who practice
in this area and in bankruptcy.
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So, there is a -- an ongoing self-study
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process, as well as more formalized training.

Q.
What -- can you talk a little bit about the
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formalized training you've had in this -- in this
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field?
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A.
Yes.
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Q.
Are you looking at your CV?
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A.
I am.
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Q.
Is that part of your report?
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A.
I -- I did not include it in the report; but
I did bring a file with me that we can print, or we
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can make copies of this.
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MR. HUGHES:
Well, we've -- we've
produced your --
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THE WITNESS:
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MR. HUGHES:
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THE WITNESS:
Okay.
-- CV in -Okay.

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MR. HUGHES:
THE WITNESS:
MR. HUGHES:
(BY MR. SMART)
question.
Would you repeat the question, please?

MR. SMART:
Can you read -- can you read
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the question back, please.
(The requested portion was read.)
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Well, then, answer the
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Okay.
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MR. SMART:
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All right.
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Our first disclosure
response.
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Right.
From the Association of Certified
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-- our disclosure response.
Fraud Examiners, I've taken a course in ethical issues
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for fraud examiners.
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exam review course, which is very comprehensive.
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taken a course in various areas of the practice of
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fraud examination from the association.
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The certified fraud examiner
I have --
Were those courses real estate
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(BY MR. SMART)
related?
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Q.
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No, not specifically real estate related.

Real estate-related courses I've taken
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from the American Real Estate Academy.
Basic
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qualifying courses.
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continuing education requirement to maintain my -- my
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license.
I have a continuing legal -- or
I've taken a number of courses from the

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MARIE MCDONNELL
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Massachusetts Association of Realtors in order to
achieve that designation of graduate realtor
institute.
From the National Association of
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Realtors, I've taken several commercial investment
real estate courses.
From the National Council of Exchangers,

a number of courses on the mechanics of real estate
exchanging.
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I've taken a number of courses on real
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estate finance, understanding the buying and selling
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of private mortgages at a discount, I've taken courses
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in real estate options.
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Who's offering these courses that you've
These -- these are various masters in their
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fields, except for, of course, the courses that I've
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taken from the various realtor institutions at the
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national and state level.
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I've taken a number of courses in
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foreclosure defense from the Massachusetts Bar
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Association and the Boston Bar Association, and I've
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recently presented in several of those courses, as
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well as a speaker.
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Q.
I have taken --
Would you call those ones offered by the Bar,

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the Massachusetts Bar or the Boston Bar -- are those
seminars?
seminars?
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Yes.
Most recently -- and I'm not -- not
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Is that what those are, one- or two-day
sure that I'm seeing it on here; I -- I'd have to add
it -- I -- I cochaired a two-hour session for the
Massachusetts Bar Association that covered the -- the
settlement between the national banks and the 49 state
attorneys general.
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I've taken intensive courses from O. Max
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Gardner, III, who is a nationally renowned bankruptcy
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attorney, a highly regarded expert in his field who
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has been conducting bankruptcy boot camps since about
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2006.
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four-day training sessions that go for about 12 hours
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per day.
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speak at and co-instruct at a number of others.
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I've taken two of -- these are intensive
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I've taken two of them, and he's asked me to
I've taken various courses in regulation
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and compliance from the Massachusetts Bankers
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Association, the CUNA Mutual Group, BankersOnline
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and....
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Q.
Okay.
Do you consider yourself an expert in
any area of the law?
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MR. HUGHES:
Objection; form.
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You can answer.

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A.
I am not an expert in law.
Q.
(BY MR. SMART)
Do you consider yourself an --
an expert in -- in anything to do with handwriting,
like a signature, whether or not the -- whether it's a
forged signature or not?
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I am not an expert, although I'm very
familiar with signatures on real estate-related
documents and I do have an ability to spot what I
believe might be --
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MR. HUGHES:
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THE WITNESS:
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MR. HUGHES:
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But I -- I -- I have, in the past, accurately
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identified forged signatures on documents.

(BY MR. SMART)
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And maybe I answered....
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Okay.
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Keep going,
Let me ask it another way.
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But you keep answering.
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I'm going to object to the
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Do you have any training in -- in
detecting forged signatures?

A.
No formal training in detecting forged
signatures, no.
Q.
And do you hold yourself out as an expert --

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MARIE MCDONNELL
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as a handwriting expert?
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I do not.
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MR. HUGHES:
Q.
(BY MR. SMART)
Objection; form.
Looking at Item 5 in your
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affidavit which is Exhibit 1, I see the word there,
"foreclosure forensics."
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forensics"?
A.
By that, I mean reviewing foreclosure-related
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What do you mean by "foreclosure
documents that, of course, relate back to a real
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estate financing transaction.
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And I conduct research using various
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mortgage-backed securities databases that I subscribe
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to to check the accuracy of some of these
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foreclosure-related documents and essentially analyze
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whether the documents I'm examining are accurate,
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truthful, or whether there are conflicts between those
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documents and research that I've conducted using
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various other tools and databases at my disposal.
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Essentially, I describe that process in
my expert report in this case.

Q.
Looking at Item 7, Page 2 of your affidavit,
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I see the word "robo-signing," which is a word I've --
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I've heard a lot.
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Can you tell me what you mean when you

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say "robo-signing"?
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A.
And for a moment, I'm just going to
refer to my report, if I may.
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Yes.
Q.
Does your report give a definition of
"robo-signing"?
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A.
It does on Page 24.
Q.
Let's look at -- here's Exhibit 2 to your
deposition, which I think is the report you're looking
at.
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Page 24?
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Just so the record's clear, we're on
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Yes.
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Q.
Of Exhibit 2.
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A.
Yes, that's right.
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Q.
Where "robo-signing" is defined as the
And I'm looking at Item 42?
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practice of an employee or agent of the servicer
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signing documents automatically, without a due
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diligence review or verification of facts.
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Yes.
And that's a definition that was
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devised by the Office of the Inspector General for the
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United States Department of Housing and Urban
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Development, and it's about as good a general
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definition of "robo-signing" as I've seen.
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I actually go further than this, though,

in terms of my own definition of what constitutes a

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robo-signer.
Q.
All right.
Why don't you tell me how you go
further.
A.
Sure.
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I actually -- before I would ever

identify a signing officer -- that is, an individual
who executes a mortgage-related document; for example,
an assignment of the mortgage or discharge of the
mortgage or an affidavit, anything along those
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lines -- I first analyze the document itself to
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determine whether or not that document is truthful and
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accurate based upon my ability to go in and research
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the transaction.
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Where I find that the document contains
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14
misrepresentations, false statements, omissions of
16
material fact, and where I find that happens
17
repeatedly, then, I will identify that individual as a
18
robo-signer.
ial
C
op
y
O
ffic
15
So, in my definition, it's not just that
fic
19
they're signing a lot of documents; they're signing
21
documents that they know or should know contain
22
inaccuracies or misrepresentations.
23
Un
of
20
Q.
Is it possible that under your definition of
24
a robo-signer, someone could have performed a due
25
diligence review?

713-653-7100
MARIE MCDONNELL
10/2/2012
20
1
A.
Yes, it is, to some extent.
Q.
Does your report list what you've reviewed
for this case for your opinions in this case?

A.
It does, yes.
Q.
All right.
ist
ric
tC
ler
k
Let's -- let's go to Page 4 of
your affidavit, where I think you've listed seven
opinions or conclusions that you've reached, and it
looks like those may be the same opinion that you put
in your report.
lD
nie
I think those are the same.
A.
Yes.
11
Q.
Those are the -- those are -- those are your
is
hr
A.
Yes.
I removed the reference to defendant
C
13
opinions in your report also, I think.
of
12
Da
10
and plaintiff in the report because, essentially, I'm
15
just identifying the entities here.
ffic
All right.
O
Q.
So, let's -- let's look at this.
op
y
16
e
14
The first one, the first opinion in
the -- on Page 4 of your affidavit, reads, "Defendant
19
Wells Fargo Bank, N.A. is not the current owner and
20
holder of Plaintiffs' Note and Deed of Trust."
21
fic
ial
C
18
Un
of
17
Okay.
Who is -- who do you -- do you
22
have an opinion as to who is the current owner and
23
holder of the plaintiffs' note?
24
MR. HUGHES:
Objection; form.
25
You can answer.

713-653-7100
MARIE MCDONNELL
10/2/2012
21
1
A.
I don't know.
And I think that is the
subject of the litigation that a court will ultimately
decide.
(BY MR. SMART)
Do you have an....
Let me ask this:
as to who is the current holder of Plaintiffs' note?

A.
I know who should be physically holding the
note, yes.
10
Q.
nie
But do you have an expert opinion as to who
Da
11
Do you have an opinion
lD
I guess what I'm asking is:
ist
ric
tC
ler
k
Q.
is physically holding the note?
is
A.
Yes.
13
Q.
And what is that opinion?
14
A.
That would be Deutsche Bank National Trust
C
of
Yes.
19
Q.
20
Un
of
ial
C
A.
22
e
current holder of the original note?
18
21
ffic
It's your opinion that Deutsche Bank is the
fic
17
Q.
O
16
Company.
op
y
15
hr
12
A.
And what do you base that on?

MR. HUGHES:
Objection; form.
You can answer.

I base that on the requirements of the
23
pooling and servicing agreement that governs this
24
particular securitization.
25
Q.
(BY MR. SMART)
Have you seen a -- a copy of

713-653-7100
MARIE MCDONNELL
10/2/2012
22
1
the note in this case that has an endorsement?
A.
I have seen a copy of the note, yes.
Q.
All right.
A.
blank.
Q.
The copy that I reviewed is endorsed in
All right.
Do you know what the effect of an
endorsement in blank means?

MR. HUGHES:
Objection; form.
nie
lD
ist
ric
tC
ler
k
or was it endorsed in blank?
10
You can answer.
Da
And was it endorsed specifically
A.
Yes, I do.
12
Q.
(BY MR. SMART)
13
A.
An endorsement of a negotiable instrument in
is
11
of
C
hr
What does it mean?
blank without naming a payee would convert that
15
instrument to bearer paper, meaning that whoever is
16
actually physically holding that note, under Article 3
17
of the Uniform Commercial Code, has the ability to
18
negotiate it.
ffic
O
op
y
C
ial
Q.
And do you know who is holding the original
fic
19
e
14
note, physical -- physically holding the original
21
note?
22
Un
of
20
A.
I can't --
23
MR. HUGHES:
24
Go ahead.
25
A.
Objection; form.
I can't say that I do at this moment; but up

713-653-7100
MARIE MCDONNELL
10/2/2012
23
1
until -- if it was taken out of the custody and
control from Deutsche Bank National Trust Company for
purposes of this legislation, that's one thing.
ist
ric
tC
ler
k
But the original would be held in a
4
5
vault maintained by the document custodian, Deutsche
Bank.
Q.
(BY MR. SMART)
And I apologize if I asked
this:
opinion that Defendant Wells Fargo Bank, N.A. is not
nie
A.
Da
11
the current holder of Plaintiffs' note?

Okay.
is
10
Can you just summarize the basis for your
lD
Well, in this case Wells Fargo

Bank, N.A. is serving as a trustee of the Carrington
14
Mortgage Loan Trust Series 2006-NC3; and as trustee,
15
it is responsible for the assets that are allegedly
16
held in that trust fund.
17
O
ffic
e
of
C
13
op
y
hr
12
The problem is that my analysis shows
that there is no evidence in the record that I have
19
reviewed that the Wolfs' note and their security
20
instrument were properly negotiated, delivered,
21
transferred to all of the necessary parties in the
22
securitization chain that would be required under a
23
mortgage loan purchase agreement and a pooling and
24
servicing agreement in order to convey those
25
instruments into the trust fund.
Un
of
fic
ial
C
18
There are fatal

713-653-7100
MARIE MCDONNELL
10/2/2012
24
1
breaks in the chain of title which indicate that those
instruments never made it into the trust fund.
Therefore, Defendant Wells Fargo Bank is

not the current owner and holder of the plaintiffs'
note and deed of trust.
Q.
Okay.
ist
ric
tC
ler
k
So, sounds like you're not saying that
Wells Fargo Bank doesn't currently physically have
possession of the original note.
opinion, is it?
nie
lD
That's not your
I mean, that's within the realm of
Da
10
possibility, isn't it, that -- that Wells Fargo
12
Bank, N.A. physically possesses the original note?
hr
C
They may at -- at this moment, yes.
of
14
A.
That's --
e
13
is
11
Q.
And they may --
16
A.
-- a possibility.
17
Q.
And they may possess -- I mean, you're not
saying they don't?
19
physically possess it, are you?
20
your opinion?
21
You're not saying they don't

Is that -- or is that
fic
ial
C
18
Un
of
op
y
O
ffic
15
A.
Like I say, at this moment in time, I do not
22
have any personal knowledge of where the physical note
23
actually is.
24
order to securitize the instruments, and I know what
25
the pooling and servicing agreement require in terms
I know what -- where it had to be in

713-653-7100
MARIE MCDONNELL
10/2/2012
25
of maintaining that -- the negotiable instrument and
the security instrument and the other mortgage-related
documents in the master file; but I do suspect that
due to the litigation, there may have been a request
for the release of those documents.
therefore, at the moment, I don't actually know who is
physically holding the original note.
ist
ric
tC
ler
k
physically holding the note who may have the right to
nie
However, regardless of who is actually
lD
And, so,
negotiate it, that does not mean they have the right
11
to enforce -- to collect on the note or to enforce the
12
security instrument.
hr
is
Da
10
Q.
And why is that?
14
A.
Well, under the provisions of the Texas home
equity fixed/adjustable rate note that the Wolfs
16
signed, in Paragraph 1, where they make their promise
17
to pay for having received a loan of $400,000, it
18
says, "Lender, or anyone who takes this Note by
19
transfer and who is entitled to receive payments under
20
the Note, is called 'Noteholder.'"
21
fic
ial
C
op
y
O
ffic
15
Un
of
e
of
C
13
And if you read the -- the note and the
22
security instrument together, it is the noteholder who
23
would have the enforcement rights.
24
25
So, if Wells Fargo is in physical

possession of the note, it may have the right to

713-653-7100
MARIE MCDONNELL
10/2/2012
26
negotiate that note -- that is, sell it to someone
else -- but it doesn't mean that they have the right
to enforce the -- the instrument because they would
have to prove that they have the right to receive the
payments, which means that they paid consideration for
it and that it was legally and properly transferred
into the trust.
ist
ric
tC
ler
k
Q.
And is that your expert opinion?
A.
That is my opinion, yes.
10
Q.
It's one of your opinions?
11
A.
Yes.
12
Q.
All right.
nie
Da
is
hr
And you base that on your
C
interpretation of the language that you just read?
of
13
lD
MR. HUGHES:
15
You can answer.
ffic
In combination with my research, specialized
O
A.
op
y
16
Objection; form.
e
14
knowledge, training, and the documents that have been
18
presented for my review.
ial
Q.
(BY MR. SMART)
Let's look at your third
fic
19
C
17
opinion in order here on the affidavit, Page 4, which
21
is under C; and it reads, "Plaintiffs' mortgage loan
22
was never transferred into the 2006-NC3 trust for
23
which Defendant Wells Fargo Bank, N.A. is trustee in
24
strict compliance with the Pooling and Servicing
25
Agreement executed on August 1, 2006 between the
Un
of
20

713-653-7100
MARIE MCDONNELL
10/2/2012
27
1
parties, which was governed by the laws of the State
of New York."
Do you see that?

A.
I do.
Q.
What did you mean by the word "parties" in
11
12
13
lD
Do you know if the Wolfs were a party to the
nie
Q.
pooling and servicing agreement?
Da
10
servicing agreement.
A.
They were not a party to the pooling and
Q.
is
Well, the parties to the pooling and
hr
A.
Who were the parties, if you know, to the
C
that -- in that opinion?
of
ist
ric
tC
ler
k
pooling and servicing agreement?
15
your report?
ffic
Actually, I don't have a copy of the pooling
O
A.
op
y
16
Do you have that in
e
14
and servicing agreement as a part of the report; I
18
have links to the site.
ial
But that would be -- the pooling and
fic
19
C
17
servicing agreement would be -- and I'd have to double
21
check in this case; but it would be between the
22
depositor, who, in this case, was Stanwich Asset
23
Acceptance Company LLC and the trustee Wells Fargo
24
Bank, N.A. and the master servicer, who, at the time,
25
was New Century Mortgage Corporation.
Un
of
20

713-653-7100
MARIE MCDONNELL
10/2/2012
28
1
Q.
So, we've got a servicer, we've got a
depositor and we've got -- a servicer, a depositor,
and who -- who --
A.
The trustee.
Q.
The trustee.
A.
Yes.
Q.
Okay.
ist
ric
tC
ler
k
Of the trust?
What is the role of the depositor in a
pooling and servicing agreement or in -- in any of the
securitization process?
nie
A.
The depositor is a special-purpose entity
Da
10
lD
that essentially serves as a pass-through entity whose
12
job it is to purchase the mortgage loans from the
13
sellers' sponsor in what is defined as a true sale.
14
It organizes -- that is, the depositor, then,
15
organizes the -- a qualified special-purpose entity
16
known as issuing entity -- which, in this case, was
17
named Carrington Mortgage Loan Trust Series
18
2006-NC3 -- and draws up certificates and -- on behalf
19
of the -- the issuing entity.
hr
C
of
e
ffic
O
op
y
C
ial
fic
It, then, deposits the mortgage loans
Un
of
20
is
11
21
and all of the rights to other contracts and to
22
payments and receivables, as well as the mortgage
23
loans -- it deposits all of the corpus of the trust
24
fund into the issuing entity in exchange for those
25
certificates, which are, then, sold to investors.

713-653-7100
MARIE MCDONNELL
10/2/2012
29
1
Q.
Okay.
So -- well, you -- so, in this case,
we had a -- a loan that was -- the lender was New
Century Mortgage, correct?

A.
Yes, that's right.
Q.
And so, would New Century Mortgage --
ist
ric
tC
ler
k
they're -- you refer to them as the originator,
correct?
11
lD
They were the lender and, for purposes
of the securitization, they were also deemed to be the
nie
10
Yes.
originator.
Da
A.
Q.
And so, the way -- let's talk about this
is
particular trust and this particular pooling and
13
of
C
hr
12
Can you tell me how the transfer of the
e
14
note was to occur to the ultimate -- where it was
16
ultimately supposed to end up?
O
op
y
17
ffic
15
A.
Yes.
New Century Mortgage Corporation, in
ial
C
18
order to have the Wolf mortgage loan -- and by
20
"mortgage loan," that's a defined term in my report
21
which essentially refers to their note and security
22
agreement -- in order for that to be securitized, New
23
Century Mortgage Corporation would have had to sell
24
the mortgage loan to an affiliate by the name of
25
NC Capital Corporation who, for purposes of the
Un
of
fic
19

713-653-7100
MARIE MCDONNELL
10/2/2012
30
1
securitization, is identified as the responsible
party.
NC Capital Corporation entered into a

mortgage loan purchase agreement with Carrington
Securities LP and Stanwich Asset Acceptance
Company LLC, and that mortgage loan purchase agreement
states that the responsible party would sell the
mortgage loans to Carrington Securities LP, who, for
purposes of the mortgage loan purchase agreement, was
lD
nie
the seller's sponsor.
Da
10
ist
ric
tC
ler
k
Carrington Securities LP, as the
is
11
seller's sponsor, then, sold the mortgage loan to --
13
would have to sell the mortgage loan to Stanwich Asset
14
Acceptance Company LLC, who is the purchaser under the
15
mortgage loan purchase agreement and the depositor
16
under the pooling and servicing agreement.
op
y
O
ffic
e
of
C
hr
12
So, it would be Stanwich Asset
Acceptance Company LLC who would, then, deposit the
19
mortgage loan into the trust fund over which Wells
20
Fargo served as trustee.
21
fic
ial
C
18
Un
of
17
Also, the actual physical documents were
22
to be transferred to the trustee Wells Fargo Bank,
23
who, under the pooling and servicing agreement, was
24
required to deliver those to custodian Deutsche Bank
25
National Trust Company.

713-653-7100
MARIE MCDONNELL
10/2/2012
31
1
Q.
So, you've talked about a mortgage loan
purchase agreement and a pooling and servicing
agreement.
guide the securitization process or are there others
also?
ist
ric
tC
ler
k
Are those the two primary documents that
A.
Well, the pooling and servicing agreement
governs this particular securitization.
other deal documents that were created in conjunction
with the securitization, but that is the governing
nie
document.
Da
10
There are
lD
Q.
The pooling and servicing agreement?
12
A.
Yes.
13
Q.
And you know that from -- how do you know
hr
C
of
e
A.
I know that from, first of all, reading the
pooling and servicing agreement; from years of
17
studying the subject; from reading various court
18
decisions; speaking to hundreds of attorneys about
19
these subjects; taking specialized training, as well
20
on securitization.
21
fic
ial
C
op
y
O
16
Un
of
15
that?
ffic
14
is
11
Q.
Briefly, do you have a definition of "pooling
22
and servicing agreement" in your report?
23
not, can you give me in -- in your own words sort of a
24
layman's interpretation of what a pooling and
25
servicing agreement is, generally speaking?

713-653-7100
If -- if
MARIE MCDONNELL
10/2/2012
32
1
A.
I -- I do discuss the pooling and servicing
agreement in the analysis section of my report; but
generally speaking, the pooling and servicing
agreement is the agreement that actually creates
the -- the trust, the entity, and governs the trust.
It has to be created under a certain document, and
that is the pooling and servicing agreement.
ist
ric
tC
ler
k
actually, the roles of each entities -- each of the
nie
And it describes very precisely,
lD
entities involved in the securitization.
11
quite a long list of definitions of terms.
12
organized into certain sections that cover the various
13
aspects of how this entity is to function and what the
14
rules of the various parties are who will see the
15
securitization through to its completion.
ffic
e
of
C
hr
is
It's
Can you sort of give me the same description
O
Q.
op
y
16
It also has
Da
10
or can you also describe for me, generally speaking,
18
what a mortgage loan purchase agreement is?

A.
20
Sure.
The -- the mortgage loan purchase
Un
of
19
fic
ial
C
17
21
agreement is essentially a purchase and sale agreement
22
between, in this case, NC Capital Corporation as the
23
responsible party, Carrington Securities LP as the
24
seller's sponsor and Stanwich Asset Acceptance
25
Company LLC as the purchaser under the mortgage loan

713-653-7100
MARIE MCDONNELL
10/2/2012
33
1
purchase agreement.
I actually have an excerpt from the
mortgage loan purchase agreement in my report, on
Page 17; and essentially, the mortgage loan purchase
agreement is an agreement between these parties to buy
and sell particular mortgage loans that have been
identified on a mortgage loan schedule that have been
slated for securitization into this particular deal.
And this buy-sell transaction creates another, quote,
10
"true sale" that is important to the whole structured
11
finance deal and to qualifying the transaction and the
12
issuing entity for favored tax status under the
13
Internal Revenue Code.
lD
nie
Da
is
hr
C
of
Q.
All right.
Let's look still at your
e
14
ist
ric
tC
ler
k
affidavit, Exhibit -- I mean, Page 4.
16
the opinion that's under G.
Let's look at
op
y
O
ffic
15
A.
Okay.
18
Q.
Do you see that?
Where I think you say the
ial
C
17
plaintiffs' mortgage loan was never physically
20
transferred from Defendant Wells Fargo Bank, N.A. as
21
trustee of the 2006-NC3 trust to the document
22
custodian Deutsche Bank National Trust Company.
23
Un
of
fic
19
By the "mortgage loan," looking at your
24
definition up above, you're talking about the note and
25
the deed of the trust, right?

713-653-7100
MARIE MCDONNELL
10/2/2012
34
1
A.
Yes.
Q.
Now, how -- what is the basis for your
opinion that the -- if I'm reading this correctly,
you're saying the note, the physical note, was
never -- the custodian never -- never touched it,
never had possession of it?
saying?
ist
ric
tC
ler
k
Is that what you're
A.
No.
Q.
What do you mean by "physically transferred"?
10
A.
I mean that Wells Fargo Bank, N.A. did not
Da
nie
lD
physically transfer those documents to the document
12
custodian.
13
Q.
hr
is
11
of
C
I mean, like, I am holding a piece of paper;
and -- and if I give it to another person, is that
15
what you mean by "physically transfer" from -- when
16
you give this opinion?
op
y
O
ffic
e
14
17
MR. HUGHES:
A.
20
Q.
That's what I mean.

(BY MR. SMART)
So, it's your opinion that --
Un
of
fic
19
You can answer.
ial
C
18
Objection; form.
21
that Wells Fargo Bank never gave the original note to
22
Deutsche Bank National Trust Company?
23
24
25
A.
Not at the -- not at the time the mortgage
loan was allegedly securitized.

Q.
That's correct.
And what do you base -- what -- what's the

713-653-7100
MARIE MCDONNELL
10/2/2012
35
1
basis for that opinion?
A.
Here's where my specialized knowledge comes
into play.
I have heard trial testimony and read
ist
ric
tC
ler
k
many court cases and have discussed this process among
my peers; have also spoken to correspondent lenders
who originated these type of transactions and whose
job it was to actually physically deliver those files,
the original mortgage loan documents.
And to a high
nie
lD
degree of probability, I make this statement that the
11
trustee Wells Fargo Bank did not physically deliver
12
these instruments to Deutsche Bank National Trust
13
Company.
of
C
hr
is
Da
10
That's not to say Deutsche Bank National
e
14
Trust Company didn't receive them; it's just that the
16
trustee was not the one to ever have physical
17
possession of them nor transfer them to Deutsche Bank.
O
op
y
And correct me if I'm wrong:
C
Q.
It sounds like
ial
18
ffic
15
you're basing that on, that's what -- that's what
20
happens a lot of the time.
21
probably happened this time, too?
Un
of
22
fic
19
23
24
25
MR. HUGHES:
So, your opinion is, it
Objection; form.
You can answer.

A.
Yes, I think that's fair to say.

(Mr. Hughes exited the room.)

713-653-7100
MARIE MCDONNELL
10/2/2012
36
MR. SMART:
1
2
Let's go off the record
while he's out of the room.

(Break from 10:09 a.m. to 10:16 a.m.)
(Mr Hughes entered the room.)
5
6
Q.
ist
ric
tC
ler
k
(BY MR. SMART)
Ms. McDonnell, have you -- are
you being paid for your services in this case?

A.
Yes.
Q.
And who is it who retained you?
A.
Craft Hughes retained me.
10
Q.
Okay.
11
A.
His firm retained me.
12
Q.
And are you being paid by the hour?
13
A.
Yes.
14
Q.
And is your hourly rate the same or does
e
of
C
hr
is
Da
nie
lD
it -- is it different depending on whether you're in a
16
deposition or reviewing documents?
op
y
O
ffic
15
A.
It's the same.
18
Q.
And what is your hourly rate?
19
A.
20
Q.
22
23
24
ial
fic
$395 an hour.
All right.
Un
of
21
C
17
That's all the questions I have.

MR. HUGHES:
I have just a few
questions.
THE WITNESS:
Sure.
25

713-653-7100
MARIE MCDONNELL
10/2/2012
37
1
2
E X A M I N A T I O N
BY MR. HUGHES:
Q.
Have you been involved in any other lawsuits
or litigation or cases relating to wrongful
foreclosure?
A.
Yes.
Q.
Okay.
ist
ric
tC
ler
k
And can you please explain for the
jury what those cases are and what your involvement
was.
nie
lD
A.
Yes.
That would be a long list.
11
Q.
Well, let's start with Eaton.
12
A.
Yes.
hr
There is an important case that was
of
C
13
Okay.
is
Da
10
brought in the Commonwealth of Massachusetts, at
15
first, brought in a superior court on the state level,
16
styled, Henrietta Eaton versus Federal National
17
Mortgage Association, or Fannie Mae as it's commonly
18
referred to.
19
amicus brief, a friend-of-the-court brief, when that
20
case was appealed up to our Massachusetts Supreme
21
Judicial Court.
ffic
O
op
y
C
ial
My role in that case was to file an
fic
Un
of
22
e
14
It involved a case where Henrietta Eaton
23
had been foreclosed upon by a mortgage servicing
24
company, and, at the eviction stage, she challenged
25
whether or not that foreclosure was brought properly.

713-653-7100
MARIE MCDONNELL
10/2/2012
38
1
The state court judge ruled that it was

not a proper foreclosure because there was a
separation between the note and the mortgage, and the
party who brought the foreclosure may have owned the
mortgage but was not the owner and the holder of the
note.
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Q.
And did you file an amicus brief in
that case?
A.
I did.
10
Q.
Okay.
11
A.
In the -- the -- what's referred to commonly
nie
Okay.
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is
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And what about Ibanez?
as the Ibanez case in the Massachusetts, I played a
13
role at the trial court level there.
14
this case, I was allowed to intervene as a friend of
15
the court.
16
Q.
Okay.
17
A.
And that case involved -- actually, it
Again, I -- in
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started out three loans that had been securitized; all
19
had been foreclosed upon by the trustees of the
20
securitization trust.
21
those cases, the trial court judge overturned those
22
foreclosures as wrongful.
23
24
25
And in two out of three of
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Q.
Okay.
And as you know in this case, we're
dealing with a securitization trust?

A.
Yes.

713-653-7100
MARIE MCDONNELL
10/2/2012
39
1
Q.
And in -- in the Ibanez or "ih-ban-yez"
(phonetic) case, they were also dealing with a
securitization trust?
A.
That's correct.
Q.
Okay.
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Have you ever been offered a
consulting position with any type of governmental
entity to aid the government in assisting them with
wrongful foreclosure investigation?

Yes.
10
Q.
Okay.
how that happened.

A.
is
12
And please explain what that is and
Okay.
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nie
A.
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Well, I -- I have consulted with
of
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attorneys general in a number of states over the
15
years, but most recently I conducted a one-day
16
training for the staff of the New York State Attorney
17
General's office.
18
special agents and assistant attorney generals
19
handling civil matters, as well as criminal matters.
22
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And this involved training both
Okay.
A.
Uh-huh.
Q.
Did they come to you and ask you, or did you
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Let me stop you right there.
submit some type of application?
24
A.
They asked me.
25
Q.
Okay.

713-653-7100
MARIE MCDONNELL
10/2/2012
40
1
A.
And recently, I was awarded a contract to
provide a -- a three-day training session to special
agents of a variety of federal entities.
the request of the Office of the Inspector General for
the Federal Housing Finance Agency, which actually
regulates Fannie Mae and Freddie Mac.
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This was at
And just yesterday, I was also contacted

by someone in the FHFA OIG's office to consult with
them on some mortgage servicing issues.
nie
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So, it is anticipated that I'll be doing
Da
10
a fair amount of training going forward for these
12
various special agents.
hr
Okay.
And are you aware that the Wolf case
C
Q.
of
13
is
11
at issue here is being filed as a proposed class
15
action?
ffic
e
14
A.
Yes, I am.
17
Q.
Okay.
Do you believe that the plaintiffs' --
when I say "the plaintiffs," I mean the Wolfs -- and
19
the class members' claims stem from a common course of
20
conduct by Wells Fargo?
21
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A.
Yes.
Q.
Okay.
And do you believe each member of the
23
proposed class has been damaged by Wells Fargo's
24
course of conduct and action?
25
A.
Yes.

713-653-7100
MARIE MCDONNELL
10/2/2012
41
2
3
4
Q.
Do you recall how many mortgages and deeds of
trust have been transferred into this 2006-NC3 trust?

A.
Just a moment, please.
I think I did that
research.
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Yes.
involved in this securitization.
Q.
Okay.
There were 7,548 mortgage loans
And is it true that approximately 571
of these mortgage loans relate to Texas residents and
Texas property?
nie
I can look that up.
I -- and I may have
Da
11
A.
before, so....
That sounds about right.
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Q.
Approximately?
13
A.
Yes.
14
Q.
And approximately 233 of these mortgage loans
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Uh-huh.
that have been allegedly transferred into this trust
16
involve real property located in Harris County, Texas?
O
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15
A.
Yes.
I believe I -- I -- I looked at those
statistics, by which I can go in through using the
19
Bloomberg terminal and support all of this -- rather,
20
and analyze all of this data, sorting by ZIP code,
21
metropolitans statical area, state, and so forth.
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Q.
So, you're saying that you can verify these
numbers later?
24
A.
Yes.
25
Q.
Okay.

713-653-7100
MARIE MCDONNELL
10/2/2012
42
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A.
I -- I certainly can.
Q.
And you're aware that the plaintiffs in the
proposed class in this case are seeking to certify a
class comprised of all Texas residents whose mortgages
and deeds of trust have been allegedly transferred
into the 2006 trust?

A.
Yes.
Q.
All right.
13
nie
Da
Yes.
With respect to the securitization and
is
12
A.
actually the foreclosure process, yes, I do.

Q.
hr
11
both the plaintiffs and the proposed class?
Okay.
Is fair to say that the size of the
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10
common questions of fact that would equally apply to
of
Do you believe there's numerous
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proposed class in this case will number in the
15
hundreds or thousands?
ffic
e
14
A.
Yes.
17
Q.
Is there at least one material fact issue
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shared by every proposed class member that's common
19
with the plaintiffs in this case?
22
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Yes.
Q.
Do you -- can you explain or list at least
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one or two of these common factual issues?

A.
Yes.
With respect to what was required to
securitize these loans, every single one of them would

713-653-7100
MARIE MCDONNELL
10/2/2012
43
1
have to follow the same deal flow that I've just
described here during the course of this deposition.
Q.
Would -- what about an allegation that
these -- that a fraudulent transfer of lien was filed
with the county clerk's office?
common factual issue shared by the proposed class and
the plaintiffs?
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Would that be a
A.
Yes.
Q.
And when it -- when we allege -- or when the
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plaintiffs allege a fraudulent transfer of lien, what
11
exactly -- what document is that referring to?
is
A.
For example, in the Wolfs' case, I have it
hr
12
Da
10
here attached to my report as Exhibit D.
14
"Transfer of lien."
It is called
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of
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13
And what this proposes to do is to -- to

assign the security instrument and the note from, in
17
this case, New Century Mortgage Corporation, directly
18
into -- or directly over to Wells Fargo Bank, N.A. as
19
trustee for Carrington Mortgage Loan Trust Series
20
2006-NC3 Asset-Backed Pass-Through Certificates.
21
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So, it purports to assign and transfer
22
all of the rights contained in those instruments to
23
Wells Fargo Bank as trustee.
24
25
MR. HUGHES:
Okay.
I'll pass the
witness.

713-653-7100
MARIE MCDONNELL
10/2/2012
44
1
MR. SMART:
(Deposition concluded at 10:28 a.m.)
No more questions.
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713-653-7100
MARIE MCDONNELL
10/2/2012
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Please indicate changes on this sheet of paper,

giving the change, page number, line number and reason
for the change. Please sign each page of changes.
PAGE/LINE
______________________________________________________
______________________________________________________
______________________________________________________
______________________________________________________
______________________________________________________
10
______________________________________________________
11
______________________________________________________
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______________________________________________________
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______________________________________________________
REASON FOR CHANGE
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CORRECTION
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WITNESS CORRECTIONS AND SIGNATURE
24
25
______________________________________
MARIE MCDONNELL

713-653-7100
MARIE MCDONNELL
10/2/2012
46
1
2
3
I, MARIE MCDONNELL, have read the foregoing

deposition and hereby affix my signature that same is
true and correct, except as noted on the previous
page(s), and that I am signing this before a Notary
Public.
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4
5
6
______________________________________
MARIE MCDONNELL
STATE OF T E X A S
COUNTY OF ___________
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Before me, ___________________________, on

this day personally appeared MARIE MCDONNELL, known to
me, or proved to me under oath or through
____________________ (description of identity card or
other document), to be the person whose name is
subscribed to the foregoing instrument and
acknowledged to me that they executed the same for the
purposes and consideration therein expressed.
Given under my hand and seal of office on
this, the _____ day of ________________, 2012.
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________________________________
NOTARY PUBLIC IN AND FOR THE
STATE OF TEXAS
My Commission Expires: _______________________
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JOB NO. 1-133489

713-653-7100
MARIE MCDONNELL
10/2/2012
47
1
CAUSE NO. 2011-36476
2
)
)
)
)
)
)
)
)
)
)
)
)
4
VS.
5
6
7
8
WELLS FARGO BANK,

N.A., as Trustee for
Carrington Mortgage
Loan Trust, Series
2006-NC3 Asset Backed
Pass-Through
Certificates, et al
151ST JUDICIAL DISTRICT
REPORTER'S CERTIFICATION
ORAL DEPOSITION OF MARIE MCDONNELL
OCTOBER 2, 2012
Da
10
hr
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11
I, Mendy A. Schneider, a Certified Shorthand
C
12
HARRIS COUNTY, TEXAS
nie
IN THE DISTRICT COURT OF
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MARY ELLEN WOLF and

DAVID WOLF
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Reporter in and for the State of Texas, hereby certify
14
to the following:
e
ffic
That the witness, MARIE MCDONNELL, was duly sworn
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15
of
13
by the officer and that the transcript of the oral
17
deposition is a true record of the testimony given by
18
the witness;
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That the deposition transcript was submitted on
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_____________, 2012, to the witness, or to the
21
attorney for the witness, for examination, signature,
22
and return to U.S. Legal Support, Inc., by
23
_____________, 2012;
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That the amount of time used by each party at the

deposition is as follows:

713-653-7100
MARIE MCDONNELL
10/2/2012
48
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MR. HUGHES - 00:11:25
MR. SMART - 01:00:49

That pursuant to information given to the
deposition officer at the time said testimony was
taken, the following includes counsel for all parties
of record:
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MR. W. CRAFT HUGHES, Attorney for Plaintiffs.

MR. PETER C. SMART, Attorney for Defendants.
I further certify that I am neither counsel for,
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related to, nor employed by any of the parties or
11
attorneys in the action in which this proceeding was
12
taken, and further that I am not financially or
13
otherwise interested in the outcome of the action.
14
Further certification requirements pursuant to
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Rule 203 of TRCP will be certified to after they have
16
occurred.
Certified to by me this 9th of October, 2012.
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__________________________________
Mendy A. Schneider, CSR NO. 7761
Expiration Date: 12-31-12
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713-653-7100
MARIE MCDONNELL
10/2/2012
49
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3
4
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The original deposition was _____ was not _____

returned to the deposition officer on _____________,
2012.
If returned, the attached Corrections and
Signature page contains any changes and the reasons
therefor;
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FURTHER CERTIFICATION UNDER RULE 203 TRCP
If returned, the original deposition was delivered

to MR. PETER C. SMART, Custodial Attorney;
11
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That the deposition was delivered in accordance

with Rule 203.3, and that a copy of this certificate
was served on all parties shown herein and filed with
the Clerk.
Da
is
That $_______ is the deposition officer's charges

to the Attorney for Defendants, MR. PETER C. SMART,
TBA# 00784989, for preparing the original deposition
transcript and any copies of exhibits;
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Certified to by me this 9th of October, 2012.
of
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U.S. Legal Support, Inc.

Firm Registration No. 122
363 North Sam Houston Pkwy East
Suite 900
Houston, TX 77060-4001
713/653-7100
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_________________________________
Mendy A. Schneider, CSR NO. 7761
Expiration Date: 12-31-12
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JOB NO. 1-133489
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713-653-7100
MARIE MCDONNELL
10/2/2012
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8:4,7,23 12:4 13:12

13:17 14:1,4,22,22
15:7,20 37:17
associations 5:25
12:6
attached 1:20 43:13
49:4
attorney 15:12 39:16
39:18 47:21 48:7,7
49:6,8
attorneys 8:10 12:7
15:9 31:18 39:14
48:11
August 26:25
Austin 8:6
automatically 18:17
awarded 40:1
aware 40:13 42:2
a.m 1:17 36:3,3 44:2
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based 19:12
basic 6:22 8:25 13:22
basing 35:19
basis 23:8 34:2 35:1
bearer 22:15
behalf 28:18
believe 6:2 8:5,6,20
8:24 16:9 40:17,22
41:17 42:8
belong 12:7
biology 5:2,3,7
bit 7:15 8:2 12:11
blank 22:4,6,8,14
Bloomberg 41:19
body 8:1,2,13 10:6,7
12:1
boot 15:13
Boston 14:22 15:1
Boulevard 1:19 2:4
Break 36:3
B
breaks 24:1
bachelor 4:23
brief 37:19,19 38:7
bachelor's 4:20
Briefly 31:21
back 11:2 13:10
bring 12:19
17:10
broker 7:3
Backed 1:7 47:7
broker's 5:13 6:1
background 6:22
brought 37:14,15,25
8:20
38:4
Bank 1:5 20:19 21:14 business 6:14,16,23
21:16 23:2,6,9,13
buy 33:5
24:3,7,12 26:23
buying 14:11
27:24 30:22,24
buy-sell 33:9
33:20,22 34:10,21
C
34:22 35:11,12,14
35:17 43:18,23 47:5 C 2:1,8 26:21 48:7
Bankers 15:19
49:6,8
BankersOnline
call 14:25
15:20
called 25:20 43:13
banking 12:6
camps 15:13
bankruptcy 12:8
capability 9:24
15:11,13
capacity 8:9
banks 15:8
Capital 29:25 30:3
bar 12:5 14:21,22,25
32:22
15:1,1,7
card 46:12
base 21:19,22 26:12
Carrington 1:6 23:13
34:25
28:17 30:4,8,11
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American 13:22
amicus 37:19 38:7
amount 40:11 47:24
analysis 9:6 11:9
23:17 32:2
analyst 4:10 9:6,7,10
9:17,18,20 10:5,19
10:23 11:16,20
analyze 10:18 17:15
19:10 41:20
analyzing 11:11
Andover 4:19
answer 12:3 13:6
15:25 20:25 21:21
22:10 26:15 34:18
35:23
answered 16:20
answering 10:4 16:14
anticipated 40:10
apologize 23:7
appealed 37:20
appeared 46:11
application 39:23
applied 10:24
apply 42:9
apprenticed 7:2
apprenticeship 7:4
approximately 41:7
41:12,14
area 10:2 12:8 15:23
41:21
areas 13:16
Article 22:16
asked 15:16 23:7
39:24
asking 21:4
aspects 9:1 32:13
Asset 1:7 27:22 30:5
30:13,17 32:24 47:7
assets 23:15
Asset-Backed 43:20
assign 43:16,21
assignment 19:8
assistant 39:18
assisting 39:7
association 5:15,21
op
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A
ability 10:15 16:8
19:12 22:17
able 9:25 10:9
above-styled 1:16
Academy 13:22
Acceptance 27:23
30:5,14,18 32:24
accountants 8:11
accuracy 17:14
accurate 17:16 19:12
accurately 16:17
achieve 14:2
achieved 5:14,19
achievement 11:25
acknowledged 46:13
action 40:15,24 48:11
48:13
actual 30:21
add 15:5
affidavit 3:9 7:10,11
7:16,18 17:5,22
19:9 20:6,18 26:20
33:15
affiliate 29:24
affix 46:1
Agency 40:5
agent 18:16
agents 39:18 40:3,12
agreement 21:23
23:23,24 24:25
26:25 27:8,10,12,14
27:17,20 28:8 29:13
29:22 30:4,6,9,15
30:16,23 31:2,3,6
31:11,16,22,25 32:2
32:4,4,7,18,21,21
33:1,3,5,5
ahead 22:24
aid 39:7
al 1:8 47:8
allegation 43:3
allege 43:9,10
allegedly 23:15 34:24
41:15 42:5
allowed 38:14

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MARIE MCDONNELL
10/2/2012
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38:13,15,21 47:3
cover 32:12
covered 15:7
co-instruct 15:17
Craft 2:3 36:9 48:7
Craft@CraftHugh...
2:6
CRAIN 2:9
created 31:8 32:6
creates 32:4 33:9
credentialed 7:19,23
criminal 11:1 39:19
CSR 1:17 48:20
49:15
CUNA 15:20
current 20:19,22
21:7,17 23:10 24:4
currently 24:7
Custodial 49:6
custodian 23:5 30:24
33:22 34:5,12
custody 23:1
CV 12:15,24
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consist 8:10
constitutes 11:25
18:25
consult 40:8
consultant 5:19
consulted 39:13
consulting 7:5 39:6
contacted 40:7
contain 19:21
contained 43:22
contains 19:14 49:4
continuing 13:23,24
contract 40:1
contracts 10:7 28:21
control 23:2
convert 22:14
convey 23:24
copies 12:20 49:9
copy 21:25 22:2,5
27:16 49:10
Corporation 27:25
29:18,23,25 30:3
32:22 43:17
corpus 28:23
correct 29:3,7 34:24
35:18 39:4 46:2
CORRECTION 45:4
Corrections 45:1
49:4
correctly 34:3
correspondent 35:6
cottage 6:14
Council 14:7
counsel 48:5,9
Counselor 7:6,8
county 1:4 41:16
43:5 46:9 47:4
course 10:25 13:13
13:15,16 14:17
17:10 40:19,24 43:2
courses 5:3 13:18,21
13:23,25 14:6,8,10
14:12,14,17,20,23
15:10,18
court 1:2 21:2 31:17
35:5 37:15,21 38:1
is
Clerk 49:11
clerk's 43:5
cochaired 15:6
code 22:17 33:13
41:20
collect 25:11
college 4:12,14,17
combination 26:16
come 10:22 39:22
comes 35:2
commercial 14:5
22:17
Commission 46:20
common 40:19 42:9
42:18,22 43:6
commonly 37:17
38:11
Commonwealth
37:14
companies 8:11
company 21:15 23:2
27:23 30:6,14,18,25
32:25 33:22 34:22
35:13,15 37:24
completion 32:15
compliance 12:6
15:19 26:24
comprehension 9:1
comprehensive 13:15
comprised 42:4
concerning 10:8
concerns 12:6
concluded 44:2
conclusions 20:7
conduct 17:12 40:20
40:24
conducted 7:6 17:18
39:15
conducting 15:13
confirm 7:11
conflicts 17:17
conjunction 31:8
consider 11:14 15:22
16:2
consideration 26:5
46:14
op
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32:23 43:19 47:6

case 11:3 17:21 20:3
20:3 22:1 23:12
27:21,22 28:16 29:1
32:22 36:6 37:13,18
37:20,22 38:8,12,14
38:17,23 39:2 40:13
42:3,14,19 43:12,17
cases 35:5 37:4,8
38:21
categories 9:9
category 9:9
CATON 2:9
cause 1:1,17 47:1
Century 27:25 29:3,5
29:18,23 43:17
certain 8:19 10:8
32:6,12
certainly 42:1
certificate 7:24 8:3
8:17 49:10
certificates 1:8 5:11
28:18,25 43:20 47:8
certification 3:6
47:10 48:14 49:1
certified 4:11 5:16,17
5:18 7:19 8:4,18,23
12:5 13:12,14 47:12
48:15,17 49:12
certify 42:3 47:13
48:9
chain 23:22 24:1
challenged 37:24
change 45:2,3,4
changed 7:7
changes 45:2,3 49:4
charges 49:7
check 17:14 27:21
children 6:12
cities 6:18
civil 1:19 11:1 39:19
claims 40:19
class 40:14,19,23
42:3,4,10,14,18
43:6
clear 18:10

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D 43:13
damaged 40:23
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MARIE MCDONNELL
10/2/2012
3
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33:15 43:13
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36:15

713-653-7100
F
fact 19:16 42:9,17
facts 18:18
factual 42:22 43:6
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42:13
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38:7
MARIE MCDONNELL
10/2/2012
4
forward 40:11
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9:2,5,9 12:5 13:13
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713-653-7100
MARIE MCDONNELL
10/2/2012
5
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18:13

713-653-7100
MARIE MCDONNELL
10/2/2012
6
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43:18 47:6

713-653-7100
MARIE MCDONNELL
10/2/2012
7
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713-653-7100
MARIE MCDONNELL
10/2/2012
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713-653-7100
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MARIE MCDONNELL
10/2/2012
9
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713-653-7100
ZIP 41:20
$
$395 36:19
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MARIE MCDONNELL
10/2/2012
10
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42:6
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26:22 28:18 33:21
41:2 43:20 47:7
2011-36476 1:1 47:1
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713-653-7100

61 - Wolf v. WELLS - Oral Deposition of Marie McDonnell October 2, 2012

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61 - Wolf v. WELLS - Oral Deposition of Marie McDonnell October 2, 2012

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Filed 13 May 6 P1:10

Chris Daniel - District Clerk

CAUSE NO. 2011-36476

WELLS FARGO BANK,

ORAL DEPOSITION of MARIE MCDONNELL, produced as

151ST JUDICIAL DISTRICT

HARRIS COUNTY, TEXAS

IN THE DISTRICT COURT OF

MARY ELLEN WOLF and

U.S. LEGAL SUPPORT - HOUSTON

FOR THE PLAINTIFFS:

MR. W. CRAFT HUGHES

FOR THE DEFENDANTS:

MR. PETER C. SMART

U.S. LEGAL SUPPORT - HOUSTON

MCDONNELL EXHIBIT NO. 2

MCDONNELL EXHIBIT NO. 1

U.S. LEGAL SUPPORT - HOUSTON

having been first duly sworn, testified as follows:

(Marked McDonnell Exhibit Nos. 1 and 2.)

What is your name, please?

My name is Marie McDonnell, spelled

Ms. McDonnell, what do you do for a living?

I am a mortgage fraud and forensic analyst

and a certified fraud examiner.

And do you have a college degree?

And when did you get that college degree?

And where did you get it?

And where is Merrimac?

North Andover, Massachusetts.

And what was the major or what was the

Did you have a minor?

U.S. LEGAL SUPPORT - HOUSTON

I -- I did, yes; which, actually, I started

out as a biology major; so, I -- I actually have more

science and math and biology courses than political

science, but that's the degree.

So, you have a -- you have a major and a

degree in political science, and you have a minor in

And do you have any postgraduate degrees?

And do you have any certificates or licenses

I have a real estate broker's license

in Massachusetts, and I've achieved several

designations; most recently, from the Association of

Certified Fraud Examiners, the designation of

certified fraud examiner.

I am also a certified real estate

exchange consultant, and I've achieved the graduate

realtor institute designation from the National

Is that a sampling or is that -- is that the

That's what I recall at the moment in terms

of designations from other trade associations.

U.S. LEGAL SUPPORT - HOUSTON

When did you get your broker's license?

I believe that was January of 1988.

Did you work in real estate from the time you

graduated in '70 until '88, or did you do other

No, I did other things.

What -- what -- what -- professionally, what

you started working in a -- in a real estate-related

Well, in 1970, I married, had three

So, I was a stay-at-home home for about

cottage industry business which was a handcraft