Environmental Pollution Leads to Mortgage Dispute

Case Overview

This case involves a residential property that the Plaintiffs had been living in for several months. An environmental survey was performed on the property, during which soil samples revealed the presence of pervasive chemical contamination. Eventually, it was discovered that the source of the pollution was a recently closed battery manufacturing plant located nearby. The plaintiffs allege that the pollution was not disclosed prior to their signing on the mortgage, and that the value of their property has been severely affected by the revelation.

Questions to the Real Estate expert and their responses

Do you have familiarity with the subject matter described above?

I have worked within the mortgage industry since 1997 and have an in-depth knowledge of lending practices and standards. I have originated, processed and underwritten conventional and government loans. I have been underwriting since 2002 and have reviewed numerous loan files for fraud and compliance.

Have you ever published or lectured on this subject / issue?

I have consulted on numerous mortgage fraud cases and have worked several years providing extensive fraud and quality control reviews for pools of loans that were originated during the time in question.

About the expert

This highly qualified expert has over 15 years of experience in the field of mortgage underwriting and experience with investor and agency programs. She has extensive knowledge of federal and state compliance requirements related to loan originations and has 8 years of experience with direct sales and marketing. She is able to review FHA/Government loan applications for DE certification.