Jay Patterson is a nationally recognized forensic accountant and Certified Fraud Examiner.  He is the owner of Full Disclosure LLC since 2007.  His practice is limited to forensic and investigative accounting/auditing relating to mortgage loan servicing functions, processes, and document forensics.  

Jay has specialized knowledge in these areas and has testified as an expert witness in a variety of jurisdictions, including state courts, federal courts, and legislative bodies.  He has developed methodologies used in the investigation, examination, and analyses of mortgage loan servicing transactions and processes.  He has extensive knowledge of the data that is available from the major mortgage servicing systems including Loansphere MSP, LSAMS, RealServicing, among others.  

He regularly teaches attorneys, attorneys general, county recorders, judges, and bankruptcy trustees and is viewed as one of the few people in the country, outside of the mortgage industry that is qualified to conduct these types of examinations and analyses.  He is also a faculty instructor for Max Gardner’s Bankruptcy Bootcamps as well as a guest speaker at various trade organizations including NCLC and bar associations.  He has also testified before the Arkansas Judiciary Committee regarding statutory foreclosure issues.  His clients include some of the most well-known consumer attorneys in the nation including Max Gardner, Tom Cox, Linda Tirelli, and Marc Dann to name a few.  He has worked for banks, mortgage-backed securities investors, attorney generals, bankruptcy trustees, county recording offices, hedge funds, and other governmental entities. Jay has also testified in several high-profile cases more recently Saccameno v. Ocwen in the US District Court for the Southern District of Illinois.  

Jay is currently working with the Ditech Holding Corporation Consumer Creditor Recovery Trust analyzing claims.  He also has a previously published study commissioned by the San Francisco Office of the Recorder for the City of San Francisco as well as several papers related to mortgage loan servicing issues.

Jay holds a Bachelor of Science degree in Accounting from the University of Arkansas.  He is a member of the Association of Certified Fraud Examiners, the American Institute of Certified Public Accountants, and the Arkansas Society of Certified Public Accountants.  He is a native of Texas and resides in Hot Springs National Park, Arkansas.  He is married for 34 years to attorney Annabelle Patterson and has 2 children and 1 grandson.  

In this episode, they talk about loan forbearances and loan modifications.  And the fact that there is predicted to be a new wave of foreclosures after the pandemic. Jay comes on to say that the protections put in place during the pandemic could end as early as June or as late as December.  

Jay talks about the differences between a government-backed loan and a non-government-backed loan. Jay also talks about what happens if you can't go back to paying your mortgage in the way you were before and what to do about that.