Free Answering Brief in Opposition - District Court of Delaware - Delaware

Case 1:04-cv-01551-JJF Document 378-3 Filed 10/05/2007 Page1 of 4
EXHIBIT 1

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_ . _ 9 . ‘ I Messaget)416 _§ .
I RE: Re ort needed to correct GT 1996 Delin uencies /& V
From: Diane Messick - 9 I é p __ Q N Jig
9 9 I/4/2001 :0:29-nv AM . . o 9 9
9 To: Rob Schrof 9 1 I i ` l g I_ 9 I
Messa e Bod . ‘ I ‘ 9 9
—---#Origina1 Message ----- I 9 I I 1
From: Rob Schrof 9 9 l
Sent: Thursday, January 04, 2001 10:33 AM _ · . _ 9
I To: Diane.Messick " ‘ I _ ‘ -
Subject: RE: Report needed to correct GT i996 Delinquencies 9 . _ -
, Importance: High _ I 9 9 ‘
Diane: ‘ I I _ I _ ` p l y I
I p I wanted your input on how to proceed. I had Frank make a second round of Forbemance on Dec l 9 I
28th which was expected to roli back the Eelinquencies from Cycle 2 to Cycle 3.. But what J
9 actually happened was the paymentsgot posted to the LiqResIntl bucket thus leaving the _— ·
LiqR.esPrin2 bucket with a balance resulting in those loans remaining with a 2 Cycle
I classification in Delinquency aging thus throwing our Rolling average to 18% well over the 7.5% i
Max. I understand what you are stating below, however, what are your feelings on addressing the 9
· current situation. My intentions were to have the forbearance payments posted against the ‘LiqRes E
Prin2 bucket thus moving these loans out of 2 Cycle back to Cycle 1. I feel better doingit this f I
· p ay then the way it has been done in the past months since payments were actually made-this _
- month. Let me know if you have any idea's on how we should proceed. The report is due to be
na 3.1lGd i01'B01`1'0W. , .· . 7 p _
I 9 Regards, I I I
Rob I p · . p EL
I ·——·— Original Message·····——¤- _ I p 9 ` It . II .I .
From: Diane Messick . 9 A 1 _ ;
_ ‘ Sent: Thursday, January 04, 2001 7:39 AM · · . 9
To: Raudali Noga; David Aksim; Paul Breger i '
Cc: Rob Schroti Gary Hawthorne; Frank Martinez ` 9 ‘ g
I Subject: RE: Report needed to correct GT 1996 Deiinquencies _-
As has been discussed many times in the past, In9order·to· prevent this from happening, Frank
_ needs to be supplied with a column indicating the minimum payment needed to prevent default. ”
_ This means that someone from IVHS9 needs to work with Linda Deng to capturethe correct fields. p
We CANNOT change the way the system applies the payments, as it does so per the contract
binding the deal. WS needs to report the necessary info to FM before the TC12s are applied. 9
9 9 ---Original Message —---- I 9_
- From: David Aksirn . p p I 1
Sent: Wednesday, January 03, 2001 11:54 AM g · _ 9
file://"l`:\I1nages4\Pepper\Doc%20Rexdew\ZipSLS\0l\Documents\Export\Message0416[113... 9/8/2006 · y Y 9

- —-——— —·—· ~——»— ---— -—CaSe- -1-204—cv—O»1—554—JJF- --Document»378431---»—--—F—Hed-·1—9/95/2007 ·-—·- ~-1·~P~&g€~3:@taa~»~M-— -··~— -~--·--—~»----
Page 2 of 3
To: Rob Schrof 1 · .
. Cc: Diane Messick; Stephanie Scola; Randall Noga; Paul Breger . g
Subject: RE: Report needed to correct GT 1996 Delinquencies · _ · ’
Rob, s I _ I 1 I I I
Attached please find an Excel spreadsheet which contains the requested information on the results
_ of the second forbearance run on GT 96. Please note-that if the amount paid to cycle l interest is ` I -
applied to the remainder of cycle 2 prin, all of these loans which remain in 2 cycle will get
s bumped to I cycle. 3
Sincerely, '
-—Dave I I - I
g << File: 'l`oRob200I0lO3GT96ForbRun2.x1s >> · i .
——--- Original Message ----- I I _
` From: Rob Schrof
- Sent: Wednesday, January 03, 2001 11:16 AM _ 1 - o ‘
To: Randall Noga; Paul Breger; David Aksim _ · :§
Cc: Gary Hawthorne; Diane Messick; Stephanie Scola 1 i ‘ · _
l Subject: Report needed to correct GT 1996 Delinquencies
s Randy, Paul and Dave: - - 1 y 1 1
The following scenario's were presented to Gary to correct the issne which arose from the
manner in which forbearance payments were posted to GT 1996. It appears that payments are o
applied to interest buckets Liq Reslnt 2 and 1, then to principal buckets LigResPrin 2 and 1. In
this case, delinquent interest was applied to cycle l bucket while delinquent principal remained . .
unpaid incycle 2 thus leaving those loans in the Cycle 2 Delinquency schedule. ‘
t Our options as wediscussed them were: _
. - S
1) Apply additional forbearance. funding. Randy pointed out that this would effect statements I
already printed. ` g
2) Reyise the manner in which the investor system processes delinquencies so that ·cycle 1 I
interest was applied to cycle 2 principal first. Since the service: report is due Friday, time may not
allow system changes. ‘ · 1 . A s
3) Let the default occur. This was not an option seriously considered with the ongoing business
. being done with this particular investor.
I 4) It has been decided that we could collect the information pertaining to the amount of interest Q
t S _ applied to the cycle l bucket and determine how much can or should he applied - manually- - to
cycle 2 principal. This entails producing a report for interest applied to cycle 1 as well as
remaining principal in cycle 2 buckets. Any changes to the processing on the investor system will- §
. he determined later. ‘
. — si
I file://“l`:\Images4\Pepper\Doc%20Review\ZipSLS\01\Documents\Export\Message0416{113... 9!8/2006 `

Case 1 :04-cv-01551-JJF Document 378-3 Filed 10/05/2007 Page 4 of 4 __
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In conclusion, what is needed is a type of exception report which identifies by loan detail how the _ :
2nd 1'O1.lIld{OfFO{b88f3HCB payments were appiied as is described in option #4 above. _ ‘
_ p - Please let me know if you have any qaestionsconcerning this request. _ - I T 0
Regards, A 1 T - ` ` L
R¤¤ · a 1
1 ` Outlook Header Information ‘ I
_ ` Conversation Topic: Report needed to correct GT 1996 Delinqiiencies · 1 1 p ·
_ Subject: RE: Report needed to correct GT 1996 Delinquencies
From: Diane Messick 7 = ;
~ Sender Name: Diane Messick T D . - ;
‘ To: Rob Schrof _ 1 1 i ;
‘ ‘ Delivery Time: l/4/2001 10:39:07AM . T1 1 ‘
Creation Time: 1/4/2001 10:39:05 AM 1 - 1 1 . _ _
Modification Time: l/4/2001 10:39:07 AM - _ 1 .
Submit Time: I/4/2001 10:39:07 AM 0 1 p _ i · _
Importance: 1 `
Priority: 0 " T 1 1 ‘ - -
` Sensitivity: 0 ` ‘ · » . ` T
Flags: 1 · T · · _ jj
Size: 9209 1 ` 1 ‘
1 1
‘ ZE
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