FIS |Mortgage & Real Estate Expert Vetting

Expert Licensing, Experience, and Qualifications

FIS works closely with legal teams who have retained or are planning to retain mortgage or real estate expert witnesses in civil and criminal fraud cases. Our clients report that some expert witnesses lack the credentials, experience, or licensing typically associated with expert witnesses. An expert should have current and relevant experience- employment records should be verified with employers. Credentials earned 10 to 20 years ago may create concerns in the courtroom if the expert has not annually updated his/her training to maintain their credentials.

Examples of Expert Qualification Without Proper Licensing or Experience

Specifically, experts who claim to conduct mortgage investigations in California are required to hold a private investigators license issued by the California Bureau of Security & Investigation BSIS). Failure to hold proper licensing can impact a clients’ case when the purported expert is excluded from testimony related to fraud investigations. Licensing and credential verification is an essential to tool.

In addition, some experts claim to provide testimony as to mortgage underwriting standards and practices. The expert should have recent and verifiable experience specifically as a bank or financial institution mortgage underwriter; that is the gold standard for validating whether or not an expert can testify regarding mortgage underwriting. The expert should provide a written document confirming his/her level of authorized lending authority and supportive credentials, such as HUD FHA lending authority and underwriting training certificates.

Last, an expert in the areas of broker standards and practices should possess current and verifiable broker licensing and/or mortgage broker licensing. NMLS training and registration is also a recommended standard. The experts’ licensing record should document no licensing lapses or negative actions filed by the licensing authority.

Expert Vetting Process & Report

FIS, as licensed investigators, now provides a value source of independently verified expert witness vetting. FIS validates information presented on the expert candidates’ Curriculum Vitae (CV) to ensure employment, experience, and licensing are accurate. Additional review of credentials and background investigations are conducted. Findings are then presented in a confidential written report to counsel.

The cost of our basic expert vetting report is $200. Our in-depth investigation report, licensing, and credential verification report typically ranges from $300 to $500.

Contact Curtis L. Novy:

Mobile: 858-336-0520 or Email: CurtNovy@gmail.com