Flagstar's Experts Blast Assured Witness In $1B MBS Suit

Law360, New York (October 25, 2012, 8:17 PM EDT) -- Two expert witnesses for Flagstar Bank FSB on Thursday attacked the report of a critical expert for Assured Guaranty Municipal Corp. in its contract suit in New York federal court against Flagstar over nearly $1 billion in mortgage-backed securities, calling it unprofessional and incorrect.

The Flagstar experts rebutted the results of Assured witness Rebecca E. Walzak, founder and owner of Walzak Consulting Inc. Walzak is a key witness in Assured's suit against Flagstar, which it accuses of lying about the origination and underwriting of more than...
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