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Case 8:12-cv-00323-CJC-RNB

Document 110

Filed 10/01/12

Page 1 of 8

Page ID #:4854

Lenore L. Albert, Esq.

LAW OFFICES OF LENORE ALBERT

7755 Center Avenue, Suite #1100

Huntington Beach, CA 92647 Telephone (714) 372-2264 Facsimile (419) 831-3376

Email: lenorealbert@msn.com

Attorney for Plaintiff, HELEN GALOPE On behalf of herself and all others similarly situated

SBN 210876

UNITED STATES DISTRICT COURT

CENTRAL DISTRICT OF CALIFORNIA

HELEN GALOPE, an individual, on behalf of herself and all others similarly situated,

vs.

Plaintiffs,

DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE, et al, Defendants.

CASE NO. SACV 12 00323-CJC (RNBx)

Assigned to the Hon: Cormac J. Carney

ERRATA

DATE: October 15, 2012 TIME: 1:30PM DEPT: 9B

TO THE COURT, ALL PARTIES AND THEIR ATTORNEYS OF RECORD:

Now comes Plaintiff and hereby corrects the Face of Exhibit 1 attached to the

Request for Judicial Notice in Opposition of the Motion to Dismiss. The expert

erroneously typed 1instead of 4as the correct name of the trust. It was first noticed

last Friday and this was the first opportunity the certified fraud examiner was able to

Galope v Deutsche Bank et al

1

ERRATA

SACV12-323-CJC (RNBx)

Case 8:12-cv-00323-CJC-RNB

Document 110

Filed 10/01/12

Page 2 of 8

Page ID #:4855

verify the information related to the trust 4and not trust 1then made the correction

accordingly. The corrected document header is attached hereto.

The document is relevant to show that Ms. Galope has standing. Her injury and

those similarly situated is not speculative as can be seen in this snippet. Each of the

LIBORloans were placed well above LIBOR. Also, not one modification was

reported in this trust until 2010 which is 2 years after defendant purports it modified

Ms. Galopes loan to another fixed interest rate.

Ms. Galope and those similarly situated are direct consumers of LIBOR loans,

whereby the mechanics of the effect of the price fixing is not supposed to be delved into

in such cases. It is presumed that the bank would not fix prices to hurt itself and run

itself out of business for the benefit of the consumer.

Dated: October 1, 2012

Respectfully Submitted, LAW OFFICES OF LENORE ALBERT

/s/ Lenore Albert

LENORE L. ALBERT, ESQ. Attorney for Plaintiff Helen Galope, and all others similarly situated

Galope v Deutsche Bank et al

2

ERRATA

SACV12-323-CJC (RNBx)

Case 8:12-cv-00323-CJC-RNB

Document 110

Filed 10/01/12

Page 3 of 8

Page ID #:4856

PROOF OF SERVICE

STATE OF CALIFORNIA, COUNTY OF ORANGE:

I declare that I am over the age of 18 years, and not a party to the within action; that I am employed in Orange County, California; my business address is 7755 Center Avenue

Suite #1100,Huntington Beach, CA 92647.

On October 1, 2012, I served a copy of the following document(s) described as:

ERRATA

On the interested parties in this action as follows:

See attached Mail List

[x] BY CM/ECF I caused such document(s) to be transmitted to the office(s) of the addressee(s) listed above by electronic mail at the e-mail address(es) set forth pursuant to FRCP 5(d)(1). [ ] BY EMAIL I caused such document(s) to be transmitted to the office(s) of the addressee(s) listed above by electronic mail at the e-mail address(es) set forth herein. [ ] BY FAX I caused such document(s) to be transmitted facsimile from the offices located in Westminster, California this business day to the aforementioned recipients. I declare under penalty of perjury under the laws of the State of California and the United States of America that the foregoing is true and correct.

Dated: October 1, 2012

Galope v Deutsche Bank et al

s/ Lenore Albert Lenore Albert

3

ERRATA

SACV12-323-CJC (RNBx)

Case 8:12-cv-00323-CJC-RNB

Document 110

Filed 10/01/12

Page 4 of 8

Page ID #:4857

Mailing List

For Defendant Western Progressive, LLC and

Defendant Deutsche Bank National Trust Company:

Eric D. Hauser, Esq.

Steven S. Son, Esq. HOUSER & ALLISON 3760 Kilroy Airport Way, Suite 260

Long Beach, CA 90806

Telephone: (949) 679-1111 Fax: (949) 679-1112 Email: sson@houser-law.com

Ford Defendant BARCLAYS BANK, PLC; BARCLAYS CAPITAL REAL ESTATE INC. d/b/a HOMEQ SERVICING:

Scott H. Jacobs (SBN 81980) shjacobs@reedsmith.com Brandon W. Corbridge (SBN 244934) bcorbridge@reedsmith.com REED SMITH LLP

355 South Grand Avenue, Suite 2900

Los Angeles, CA 90071-1514

Telephone: 213.457.8000 Facsimile: 213.457.8080

Boies, Schiller & Flexner LLP James Meadows jmeadows@bsfllp.com Jonathan D. Schiller jschiller@bsfllp.com

575

New York, NY 10022

Tel:

Fax: (212) 446-2350

David H. Braff Yvonne S. Quinn Jeffrey T. Scott Matthew S. Fitzwater Adam S. Paris

Sullivan & Cromwell LLP

Lexington Avenue, 7th Floor

(212) 446-2300

125 Broad Street

New York, NY 10004

Galope v Deutsche Bank et al

4

ERRATA

SACV12-323-CJC (RNBx)

Case 8:12-cv-00323-CJC-RNB

Document 110

Filed 10/01/12

Page 5 of 8

Document 110 Filed 10/01/12 Page 5 of 8 Full Disclosure, LLC Jay Patterson, CFE Forensic Accountant

Full Disclosure, LLC

Jay Patterson, CFE

Forensic Accountant | Examiner | Analyst

646 Quapaw Ave. Hot Springs, AR 71901

501-276-1108

email – jay@fulldisclosurellc.com

Page ID #:4858

LOAN MODIFICATION ANALYSIS

FOR

Lenore L. Albert, Esq.

Securitized Asset Backed Receivables LLC Trust Series 2007-BR4. (SABR 2007-BR4)

Prepared by:

Bernard Jay Patterson, CFE

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Case 8:12-cv-00323-CJC-RNB

Document 110

Filed 10/01/12

Page 6 of 8

Loan Modification Data

Page ID #:4859

Loan Modification Statistics for the SABR 2007-BR4

Description

Amounts

Total loans at beginning of deal

 

7,533

Total loans remaining in deal

 

1,956

Total loans modified

 

827

Percentage of loans modified in the deal

 

42.2%

Modified Loans with rate reductions

686

out of 827

Modified Loans with P&I reductions

718

out of 827

Modified Loans with Interest forgiveness

424

out of 827

Modified Loans with recapitalizations

653

out of 827

Modified Loans with principal forgiveness

424

out of 827

Most common modified interest rate

2% 328 out of 827

Maximum modified rate reduction

 

9.75%

Average modified rate reduction

 

3.66%

Modified rate floor

 

.5%

Source – Bloomberg Finance, LP

See attached spreadsheet containing all data for modified loans for this trust.

Case 8:12-cv-00323-CJC-RNB Document 110 Filed 10/01/12 Page 7 of 8 Page ID #:4860 Number of
Case 8:12-cv-00323-CJC-RNB
Document 110
Filed 10/01/12
Page 7 of 8
Page ID #:4860
Number of Modifications by Year
500
430
450
400
350
300
250
232 Number of Modifications by
200
Year
165
150
100
50
0
0
0
2008
2009
2010
2011
2012
Top Ten Modified Interest Rates 350 328 300 250 200 150 100 45 50 17
Top Ten Modified Interest Rates
350
328
300
250
200
150
100
45
50
17
Top Ten Modified
Interest Rates
13
12
11
11
10
9
10
0
2%
4.39
3.95
2.5
3
3.91
4
4.55
5
2.75
Adjusted Loan to Value Ratios of Trust‐ Modified Loans 234.23 250.00 200.00 MIN HALTV 150.00
Adjusted Loan to Value Ratios of Trust‐ Modified
Loans
234.23
250.00
200.00
MIN HALTV
150.00
Actutal HALTV
85.00
88.76
100.00
Avg HALTV
50.00
MAX HALTV
10.16
0.00
MIN HALTV
Actutal HALTV
Avg HALTV
MAX HALTV
Case 8:12-cv-00323-CJC-RNB Document 110 Filed 10/01/12 Page 8 of 8 Page ID #:4861 Loan Modification
Case 8:12-cv-00323-CJC-RNB
Document 110
Filed 10/01/12
Page 8 of 8
Page ID #:4861
Loan Modification Terms
800
718
686
653
700
600
500
424
424
400
Loan Modification Terms
300
200
100
0
0
Rate
P&I
Int Forgive
Recap
ARM
Princ
Forgive