Flagstar Expert Rebuts Insurer's Claims In $1B MBS Row

Law360, New York (October 23, 2012, 9:32 PM EDT) -- An expert witness for Flagstar Bank FSB testified in New York federal court Tuesday that an expert's analysis of hundreds of home equity loans in an insurer's contract suit over nearly $1 billion in mortgage-backed securities the bank issued is flawed and unreliable.

Jeffrey Scott Nielsen, a longtime managing director with Navigant Consulting Inc., made his claims during direct examination by defense counsel Veronica E. Rendon of Arnold & Porter LLP. Nielsen said the analysis of 800 Flagstar loans performed by Rebecca E. Walzak of rbjWalzak...
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