Residential Mortgage- Backed Securities Litigation
Activity: Residential Mortgage-Backed Securities Litigation
Clients: Law Firms, Expert Witnesses and Reunderwriting Vendors
These 10 engagements involved the development and deployment of technology designed to assist lawyers, experts, and re-underwriting vendors involved in the re-underwriting of securitized residential mortgages. ESILAB automatically extracted, converted, normalized and analyzed data in multiple formats (PDFs, spreadsheets, databases, XML, etc.) originating from multiple sources (litigants, experts, due diligence providers, loan servicers and re-underwriting vendors) via a sophisticated online database-driven review, editing, and reporting application. A major factor contributing to the improvement in quality, depth, and speed of the re-underwriting review was the application’s ability to associate data (via hyperlinks) to the original source (underwriting guidelines, loan files, and supporting documents) as well as its ability identify and highlight data inconsistencies. The deployment of the ESILAB technology reduced hourly fees by 40% and reduced errors in attorney/expert work product by 90%.