Residential Funding Company, LLC v. Academy Mortgage Corporation
ORDER re 2732 Parties' Stipulation concerning payment of costs for additional Iron Mountain and Corodata documents. (Written Opinion). Signed by Judge Susan Richard Nelson on 08/11/2017. (MJC)
UNITED STATES DISTRICT COURT
DISTRICT OF MINNESOTA
In Re: RFC and ResCap Liquidating
Court File No. 13-cv-3451 (SRN/HB)
This document relates to:
ALL ACTIONS 1
Pursuant to the parties Stipulation Concerning Payment of Costs for Additional
Iron Mountain and Corodata Documents [Doc. No. 2732], IT IS HEREBY ORDERED
Plaintiffs will undertake the collection, review, and production of any
responsive, non-privileged, servicing-related documents from 907 boxes stored at Iron
Mountain (the “Iron Mountain Boxes”), and Defendants will collectively reimburse
Plaintiffs for fifty (50) percent of all costs Plaintiffs incur in doing so.
Plaintiffs shall collect, review, and produce responsive, non-privileged,
servicing-related documents relating to certain previously identified at-issue loans that
may be contained in approximately 724 boxes stored at a Corodata facility in the San
Diego area (the “Corodata Boxes”), and the Defendants that have identified at-issue loans
will collectively reimburse Plaintiffs for fifty (50) percent of all costs Plaintiffs incur
collecting, reviewing, and producing responsive, non-privileged, servicing-related
documents from the Corodata Boxes.
This agreement does not relate to the Second Wave actions.
Upon completion of Plaintiffs’ collection, review, and preparation for
production of any responsive, non-privileged documents relating to servicing of the atissue loans from the Iron Mountain Boxes and the Corodata Boxes, Plaintiffs will make a
written request to Mark Schroeder of Briggs and Morgan, on behalf of Defendants in
both the Consolidated and Separately Managed Actions, for reimbursement of fifty (50)
percent of Plaintiffs’ total costs incurred, along with customary documents evidencing the
costs, a completed form W-9, and wiring instructions (“Plaintiffs’ Reimbursement
To the extent reasonably practicable, the written request will separately
identify the costs related to the Iron Mountain Boxes and the Corodata Boxes.
Within ten (10) business days of receiving Plaintiffs’ Reimbursement
Request, Defendants shall wire to the ResCap Liquidating Trust in immediately available
funds the full amount of Plaintiffs’ Reimbursement Request. Within three (3) business
days of receipt of full payment, Plaintiffs will produce any responsive, non-privileged,
servicing-related documents pertaining to the at-issue loans from the Iron Mountain
Boxes and the Corodata Boxes to Defendants.
Plaintiffs shall be under no obligation to produce to Defendants any
documents from the Iron Mountain Boxes or the Corodata Boxes until Plaintiffs’
Reimbursement Request is paid in full, or the Court orders otherwise.
Plaintiffs shall not be required to seek reimbursement from individual
Defendants, or to enforce this Stipulation against individual Defendants.
negotiations and/or agreements concerning the division of payment among individual
Defendants shall not involve Plaintiffs and shall have no impact on Defendants’
collective obligation to reimburse Plaintiffs under this Stipulation.
In the event Defendants do not timely satisfy in full Plaintiffs’
Reimbursement Request under paragraph 3, above, Plaintiffs may utilize the IDR process
to compel payment. In the event Plaintiffs’ IDR is successful, Defendants shall also
reimburse Plaintiffs for all reasonable attorneys’ fees and costs incurred in connection
with the IDR. Plaintiffs shall not be required to seek reimbursement from individual
IT IS SO ORDERED.
DATED: August 11, 2017
s/Susan Richard Nelson
SUSAN RICHARD NELSON
United States District Judge
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