Facts

Robert Weber and Cita Hetharia loaned about $860,000 to private property owners in three transactions. The borrowers had defaulted on loans brokered by Analy Mortgage Center Inc. and serviced by Redwood Trust Deed Services Inc.

Weber and Hetharia sued Analy alleging negligence in handling the transactions.

PLAINTIFF'S CONTENTIONS:
Plaintiff argued that defendants negligently placed plaintiff in the position of second deed of trust, although they asked to be in first position. Plaintiffs also argued that defendant did not make sure that loan proceeds were used properly or that draw schedules were utilized. Last, they claimed that the property values were inaccurate.

DEFENDANT'S CONTENTIONS:
Defendants contended that the borrowers' failure to repay and a decrease in property values caused the harm to plaintiffs, rather than alleged misconduct by defendants. Additionally, defendants asserted that the loan servicer should be held liable in relation to draw schedules.

Damages

Plaintiffs requested $860,000, and prejudgment interest.

Result

The court granted plaintiffs $923,500 and pre-judgment interest.

Other Information

PLEASE PROVIDE THE CITY OF LOCALE OF EXPERT STEVEN COHEN___________