Nelson R. Lipshutz, Ph.D., one of the Trusts testifying experts, randomly selected 422 of the 5,982 IndyMac loans…
…consisting of 168 IndyMac loans from the 2006-OA2 Trust, 85 IndyMac loans from the 2007-1 Trust and 169 IndyMac loans from the 2007-3 Trust. (Tr. 1226-27.).
The files were then produced by OneWest.
Lipshutz now opines that there is a 95% chance that there is a breach rate between 83.79% and 90.16% for the IndyMac loans.
Using accepted statistical methods for expressing the range in a single number, he opines that one or more warranties were breached in 87.2% of the IndyMac loans.
U.S. Bank, Nat’l Ass’n v. UBS Real Estate Sec. Inc., 205 F. Supp. 3d 386, 475 (S.D.N.Y. 2016).
The Burkes’ Indymac mortgage is also a classic example of a warranty breached, “Liar Loan”.