Underwriting Policies and Financial Expert Witness Services

In 2008, the United States experienced what has been called The Great Recession. A large part of blame for this financial crisis was placed on underwriting policies used by financial institutions. As a result, Americans have been taking a closer look at these sometimes shady policies in order to battle foreclosures.

Some of the largest banks in the country have been taken to court over these underwriting policies, and litigation continues to this day. With such rampant litigation, it is obvious that underwriting policies are intricate and baffling documents that can only be properly explained by a professional in the financial. This is where a financial expert witness comes in.

When a trusted financial expert witness is brought into a trial, he or she can explain the history of underwriting policies and how they may or may not be fair to banks’ clients. The expert witness can provide research and cite examples of why or why not a bank’s loan terms are fair. These statements can help prove if a bank is responsible for intentionally creating lending terms that are impossible to repay or are structured to fail.

The most important part of a financial expert witness’s duty is that his or her testimony is fact-based and completely objective.

Banking Expert Witness Services for Standards of Care

In the financial world, issues of legality come up time and time again. In these situations, the only way to rectify legal issues is by bringing cases to court. These circumstances are often challenging for both the defense and the prosecution, due to the complexity and depth of banking and financial law. For this very reason, having a banking expert witness on hand can turn your case from a confusing mire of dense financial legalese into a clean, concise presentation of easy-to-understand facts.

As with any case, presenting your side in simple terms is paramount. If the jury fails to understand the facts, the trial could be declared a mistrial or, worse, you could simply lose your case. One of the most confusing areas of financial law involves standards of care. Standards of care are based on the idea that there is an implied trust between professional financiers and their clients. A banking expert witness can easily explain this murky area of financial law in terms that the jury can understand.

A major aspect of Standards of Care is what is called “good faith.” Good faith is defined as “honesty in fact and the observance of reasonable commercial standards of fair dealing.” A banking expert witness can help you better explain the shades of grey that comprise the idea of good faith.