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Homeward Residential Inc. v. Sand Canyon Corp.

Samples Cannot Be Used to Prove Breach Where Compacts Call for Proof on Loan-by-Loan Basis

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OPINION & ORDER

*1 Before the Court is plaintiff Homeward Residential, Inc.’s (“Homeward”) motion under Federal Rule of Civil Procedure 26 and Federal Rule of Evidence 702 for (1) permission to prove its breach of contract claims against Sand Canyon Corporation (“Sand Canyon”) using statistical sampling evidence, and (2) a determination regarding the admissibility of testimony from its statistical expert, Dr. Charles D. Cowan, regarding the sampling exercise and results. As master servicer for a residential mortgage-backed securities (“RMBS”) trust, Homeward contends that Sand Canyon damaged the trust by breaching representations and warranties set forth in the governing agreements. According to Homeward, statistical sampling evidence regarding the likelihood of breach is appropriate in this case, especially in light of the large number of loans Homeward contends are potentially at issue. Because the Court concludes that the governing agreements, as relevant here, call for proof of breach on a loan-by-loan basis, Homeward’s proposed sampling will not assist the trier of fact and, accordingly, the Court denies Homeward’s motion.*2

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