Circumventing the Hearsay Rule: Lenders are at it Again...

Charles Marshall will discuss the Hearsay Rule by referencing the details of Federal Rules of Evidence (FRE) 801, which defines Hearsay as the term applies to legal proceedings in Federal Court. The evidence rules of the various States all largely mirror these Federal Rules. Then he will breakdown some of the exceptions to FRE 801, with particular emphasis on the business records exception, at FRE 803(6), and records of documents that affect an interest in property, at FRE 803(14).

Next Bill Paatalo will discuss how lenders and other institutional mortgage players are using data from "bid-tapes" to get around the Hearsay rule, in that they claim the reproduced copies of 'original' notes are in essence the original notes themselves.