How to Use Experts in Foreclosure Trials

Key Realities

1. Banks will never bring their own expert.
   They avoid the risk of cross-examination because no one can credibly testify to facts that don’t exist — namely, proof of ownership of the debt.

2. Using an expert is complicated.
   An expert can be decisive, but only when their work is specific, case-focused, and defensible under cross-examination.

Many homeowners assume that if an expert simply declares securitization a “scam,” the court will rule in their favor. Unfortunately, it’s not that simple. Expert evidence must be precise, tied to the case at hand, and able to withstand the scrutiny of courtroom procedure.

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What Makes Expert Testimony Effective

An expert must:

• Demonstrate specialized knowledge beyond that of a layperson or judge.

• Address this case specifically, not the industry in general.

• Show the work performed (analysis, review, discovery).

• Present factual conclusions and explain why they matter.

• Withstand cross-examination by foreclosure counsel.

General affidavits about industry practices are worthless. Courts want facts, analysis, and conclusions directly tied to the homeowner’s case.

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My Process

I typically break my services into the following categories:

• Title Analysis (TERA): $495

• Case Analysis: $2,000

• Expert Witness Report: $1,500

• Expert Testimony: $650/hour (prep and deposition time usually paid by the other side)

• Assistance with Discovery: $650/hour (often under 3 hours)

• Reviewing/Editing Pleadings or Motions: $650/hour

After the Case Analysis, I hold a consult (included) with the attorney and homeowner to decide:

• Do you actually need an expert witness?

• What scope of opinion/testimony is best for your case?

Sometimes my role works best as consultant to the attorney, rather than testifying witness.

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About My Testimony

• My expertise is in securitization of debt and financial practices.

• My testimony often shows that “securitization of debt” never occurred — because securitization was never intended to transfer ownership of homeowner obligations.

• Investors purchased certificates tied to the performance of investment banks, not to homeowner debts.

This is critical: no claimant in foreclosure can show proof of payment for the debt. That’s why fabricated documents are used — to create the illusion that loans were transferred, when in fact they weren’t.

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Why This Matters

• Without proof of payment, no creditor exists who owns the loan as a receivable asset.

• Investors never receive foreclosure proceeds. Those proceeds are directed to intermediaries, not creditors.

• Foreclosure mills rely entirely on fabricated business records and presumptions — not facts.

Expert testimony can expose this gap, but it is most powerful in discovery. Forcing the opposition to answer questions about ownership, payment, and servicing often reveals the fatal absence of a real creditor.

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The Expert’s Role in Court

An expert must do more than present conclusions. They must:

• Explain methodology (what was reviewed and how).

• Tie findings to industry practice (rules, regulations, customs).

• Demonstrate absence of evidence, which becomes evidence of absence — showing the claimant never paid value and suffered no injury.

• Persuade without advocacy — credibility is earned through clarity, not passion.

When done right, this undermines the foundation of foreclosure cases, which rest entirely on unchallenged presumptions.

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Final Note

Expert testimony can change the course of litigation, but it is not a silver bullet. It must be integrated into a broader litigation strategy built on proper pleadings, discovery, and courtroom procedure.

Neil F. Garfield, MBA, JD
Florida Licensed Trial Attorney since 1977
Former investment banker, securities broker, securities analyst, and financial analyst

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