Free Response to Motion - District Court of Colorado - Colorado

Case 1:03-cv-02485-MSK-PAC

Document 345-20

Filed 02/16/2006

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO

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3 CAMILLE MELONAKIS-KURZ, )

7 HEARTLAND HOME FINANCE, )
Defendant. )

5vs.) No. 03-MK-2485 6 ) INC. , ) 8 )
4 of other similarly situated)

employees, )

indi vidually and on behal f )

Plaintiffs, )
)

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VIDEOTAPED DEPOSITION OF PHILLIP JOHNSON,

14 10104 West 105th Street, in the City of Overland
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11 12 produced, sworn, and examined on Tuesday, the 6th day 0 f De c e mb e r, 2 0 0 5, bet wee nth e h 0 u r s 0 f 1 1 : 0 3 13 in the forenoon and 1: 41 in the afternoon of that day at the offices of Jay E. Suddreth & Associates,
Park, County of Johnson, State of Kansas, before:

17Suite 100 of 18
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16 ELLEN L. STOCK, RMR
Certified Shorthand Reporter
JAY E. SUDDRETH & ASSOCIATES, INC.

10104 West 105th Street

19 Overland Park, KS 66212-5746
a Certified Shorthand Reporter in and for the State

21 of Kansas.
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22 Taken on behalf of Plaintiffs pursuant to Notice to
Take Deposi tion.

Case 1:03-cv-02485-MSK-PAC

Document 345-20

Filed 02/16/2006

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He didn't always stay, but he would unlock
the door and come back to lock the door.
Q.

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When you were talking about the job duties

of a loan officer, and you talked about how
to best fi t the people into a program, can

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you tell me a little bit about what you mean

by that?
A.

Different companies have different loan

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products. Some which are driven by credi t

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score and model. Some have other cri teria:
loan size requirements, loan-to-value

requirements. Many times you have to fi t a
customer's credit score, his debt to income,

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and his loan-to-value into a certain loan

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package. Some companies would have higher
rates than others for a similar product.

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So the basic job was to find the best
fit at the best cost that you could.
Q.

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Now, would customers talk to you about what
their goals or needs were in terms of what
they wanted to accomplish?

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A.

Typically, in the conversation you're asking

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them, you know, are they just trying to pay

off debt? Are they trying to lower their
ra te?

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Case 1:03-cv-02485-MSK-PAC

Document 345-20

Filed 02/16/2006

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teacher.
Q.

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Wha t do you mean when you say tha t every

loan iS unique?

A.

Well, not every customer has the same credit

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score. Not every customer has the same

needs. You may have five people in a row
that tell you they want to reduce their

rate, but not everyone's going to qualify

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for the same product. And so you have to
take a different tact or package it differently to be able to get an
underwriting decision that's affirmative,

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Q.

so.. .
Now, in terms of establishing what the fees would be for these products, how did that

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work?
A.

There were general guidelines as far as the

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fees. I think it really boiled down to what
the loan officer felt that he could sell to

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his customer. And some loan officers in the
office had higher fees than others.

I f they got to be too low, Mike Kelly
would bump them up for you. Tell you to

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charge more. But there was -- I don't think
there was a set requirement other than, you

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