2 IN THE CIRCUIT COURT
3 OF THE FIFTEENTH JUDICIAL CIRCUIT
4 IN AND FOR PALM BEACH COUNTY, FLORIDA
5 CASE NO.: 2009 CA 016831 (AW)
7 US BANK NATIONAL ASSOCIATION, AS
8 TRUSTEE FOR THE HOLDER OF BEAR
9 STEARNS ASSET BACKED SECURITIES
10 I TRUST 2006-LM1,
13 SUSAN ELMAN,
18 DEPOSITION OF KRISTA HIGGS
19 TAKEN AT THE INSTANCE OF THE DEFENDANT
21 DATE: May 16, 2011
22 PLACE: 2041 Vista Parkway
23 Suite 102
24 West Palm Beach, Florida 33411
25 TIME: 2:05 – 2:13 o’clock p.m.
3 FLORIDA DEFAULT LAW GROUP, PL
9119 Corporate Lake Drive
4 Suite 300
Tampa, FL 33634
5 813-342-2200; fax 813-251-1541
Attorneys for the Plaintiff(s)
6 BY: ELIZABETH A. WULFF, ESQUIRE
KORTE & WORTMAN
8 2041 Vista Parkway
9 West Palm Beach, FL 33411
561-228-6200; fax 561-228-6202
10 Attorney for the Defendant(s)
BY: BRIAN KORTE, ESQUIRE
KRISTA HIGGS 4
3 DIRECT EXAMINATION BY MR. KORTE 4
Defendant’s Exhibit No. 1 marked for 8
5 identification and retained by counsel
Defendant’s Exhibit No. 2 marked for 8
6 identification and retained by counsel
1 The deposition of KRISTA HIGGS, witness, was taken
2 before me, Rachele Cibula, Notary Public, State of
3 Florida at large, 2041 Vista Parkway, Suite 102, in the
4 City of West Palm Beach, County of Palm Beach, State of
5 Florida, pursuant to notice in said cause for the purpose
6 of taking said deposition at the instance of the
7 Defendant in the above-styled action pending in the
8 above-named Court.
10 KRISTA HIGGS,
11 being by me first duly sworn to testify the whole truth
12 as is hereinafter certified, testifies as follows:
13 DIRECT EXAMINATION
14 BY MR. KORTE:
15 Q. Ma’am, will you state your name for the record,
16 spelling your last.
17 A. Krista Higgs, H-i-g-g-s.
18 Q. Will you give me the benefit of your educational
19 background starting from the time you left high school
20 going forward.
21 A. From the time I left high school, I began at Wells
22 Fargo in 2001 as a customer service representative. I
23 was there for approximately two years. I left the
24 company and went to work briefly for a CPA firm as an
25 administrative assistant. I was there for about a year
1 and left and went back into the mortgage business. I
2 actually began working for a title company doing
3 post-closing work. Was there for about a year and was
4 laid off at that point and went back — or went to Citi
5 Mortgage as a loss mitigation representative. Did that
6 for about a year and a half and then transferred over to
7 their cash department. Did that for about a year and
8 then they shipped out. Then I began in foreclosure in
9 2007 and was there for a year before they then shipped
10 that department out and went to research and litigation.
11 Since then, the particular facility that I was working in
12 was about to shut down completely. So, before all that
13 began, I then went to Wells Fargo where I am right now as
14 a litigation specialist. That was November of 2009. And
15 I’ve been there ever since.
16 Q. I think the question I actually asked you was
17 educational background from high school going forward.
18 A. High school diploma. I’ve done some college. I’m
19 still actually in the process of it.
20 Q. You work as a litigation specialist as Wells Fargo
22 A. Yes.
23 Q. What does a litigation specialist do?
24 A. We review pleadings from foreclosure complaints
25 that are filed, answer affirmative defenses, motion to
1 dismiss, motion — any type of motion, counter claims and
2 also attend hearings, trials, depositions, the works.
3 Q. Anything else?
4 A. Nope.
5 Q. Do you post payments or collect payments?
6 A. We do not post payments. We do research. Within
7 our research, as a litigation specialist, we research the
8 business records that are kept to determine if there’s
9 merit within that litigation or not. We also do –
10 assist in making sure the loss mitigation review is done,
11 if that’s what they’re looking for, and just pretty much
12 oversee that things are going the way they need to be
13 going, whether it’s — depending on what the borrower
15 Q. This isn’t a Wells Fargo case. This is US Bank
16 National Association as Trustee for the Holder of Bear
17 Sterns Asset Backed Securities Trust 2006-LM1. What is
18 Wells Fargo’s relationship to this litigation?
19 A. We were appointed the servicer by the trustee.
20 Q. When was Wells Fargo appointed as the servicer?
21 A. April of 2006, I believe. I do not know the exact
23 Q. Ma’am, you’ve been asked to come here today as the
24 person with the most knowledge at US Bank National
25 Association in regards to the affidavit of amounts due
1 and owing; is that accurate?
2 A. Yes.
3 Q. Before coming here today, did you review any
5 A. I have, yes.
6 Q. What documents did you review?
7 A. I reviewed the business records that are kept. I
8 also reviewed the previous affidavits that were filed by
9 the other employees of Wells Fargo and also reviewed the
10 pleadings that were filed within the case.
11 Q. What specific business records did you review?
12 A. I reviewed the affidavits that were filed by the
13 other representatives according to the way they signed
14 them and whatnot. I also prepared my own figures, as
15 well. So those records that I reviewed were the payment
16 history, fee screens, our payoff screens. I’m trying to
17 think off the top of my head. Yep. That’s it.
18 Q. Other than reviewing some pay screens and payoff
19 screens, did you review any other records?
20 A. I reviewed loss mitigation notes for general
21 information to see who the borrower is currently and
22 whether or not they have been reviewed, which I do show
23 that they have in the past. Also reviewed collection
24 notes, servicing notes, the mortgage, the note, those
25 origination documents and, again, the pleadings that were
2 Q. Did you have an opportunity to touch any physical
3 documents, or was it all on the screen?
4 A. Our documents are kept in an imaging system, and
5 we print from that system and review them that way.
6 However, we try to go paperless; so we review what’s on
7 your screen and just look at the documents that are
8 within the imaging system that way.
9 Q. Let’s talk about the affidavit of Helen Belten.
10 MR. KORTE: I’m going to mark this as
11 Defendant’s 1.
12 (Defendant’s Exhibit No. 1 marked for identification and
13 retained by counsel.)
14 BY MR. KORTE:
15 Q. Ma’am, I’m going to ask you, in regards to the
16 calculations that were done in this particular affidavit
17 beginning at paragraph four, can you tell me how the
18 principle balance was calculated?
19 A. I do not know what records she reviewed to get her
21 Q. As far as the calculation of interest, do you know
22 what she reviewed to get that?
23 A. No.
24 (Defendant’s Exhibit No. 2 marked for identification and
25 retained by counsel.)
1 BY MR. KORTE:
2 Q. I’m going to hand you what’s been marked as
3 Defendant’s 2.
4 This is the affidavit of Herman Kennerty?
5 A. Uh-huh.
6 Q. As to paragraph four, can you tell me how those
7 numbers were calculated?
8 A. No.
9 Q. Did you make any effort whatsoever to speak with
10 the affiants in Defendant’s 1 or Defendant’s 2?
11 A. No.
12 Q. Do you know how the principle was calculated in
13 either of these affidavits?
14 A. I do not know what screens they used. I did not
15 complete these affidavits, so I’m unable to affirm where
16 they got their information from or what it was at that
17 exact time, if that was correct.
18 MR. KORTE: I have nothing further for you.
19 We’ll take it.
20 (Proceedings concluded at 2:13 o’clock p.m.)
1 CERTIFICATE OF OATH
3 STATE OF FLORIDA
4 COUNTY OF PALM BEACH
6 I, Rachele L. Cibula, the undersigned authority,
7 certify that KRISTA HIGGS personally appeared before me
8 and was duly sworn.
10 Witness my hand and official seal this 22nd day of
11 May, 2011.
20 RACHELE CIBULA
Notary Public, State of Florida
21 My Commission #DD
Expires: December 3, 2011
1 C E R T I F I C A T E
THE STATE OF FLORIDA)
3 COUNTY OF PALM BEACH)
5 I, Rachele Lynn Cibula, Notary Public, State of
6 Florida at Large,
7 DO HEREBY CERTIFY that I was authorized to and did
8 stenographically report the foregoing deposition; and
9 that the transcript is a true and correct transcription
10 of the testimony given by the witness.
11 I FURTHER CERTIFY that I am not a relative, employee,
12 attorney or counsel connected with the action, nor am I
13 financially interested in the action.
14 Dated this 22nd day of May, 2011.
22 RACHELE LYNN CIBULA, NOTARY PUBLIC