December, 2016CV: Expert Witness

Jack P. Webster

17870 Bernardo Trails Pl

San Diego, CA 92128

Phone: (858) 451-9902

Email:

Experienced banking executive with 33 years of banking experience includingserving as Co-Chairman of the Senior Real Estate Loan Committee for Union Bank, California for 5 yearsServed as an expert and consultant in real estate and lender liability litigation from 1987 through 1997, and from 2009 to present.

Pre-Banking History:

  • 1963-1966: Trainee, Assistant Credit Manager, and Credit Manager for Sears & Roebuck in the cities of Beaumont, Sherman, and Corsicana, Texas.
  • 1966-1970: Served in the US Navy as an Ensign and Lieutenant JG.

Banking History:

  • 1971-1972: Held position of Loan Officer and Commercial Credit Analyst with Security Pacific National Bank in the San Diego Commercial Loan Group Main Office.
  • 1972-1976: Held position of Assistant Vice President as a lender for the Union Bank Construction Loan Group in San Diego, CA.
  • 1977-1987: Served as Vice President and Manager of the Real Estate Construction Loan Group for Union Bank in San Diego, CA. During this 10-year period, I also served as a Voting Member of the Senior Real Estate Loan Committee, the committee where all real estate construction loans for the state of California were approved
  • 1987-1992: Held position of Senior Vice President and Manager of the Construction Loan Group in San Diego, as well as Co-Chairman of the Senior Real Estate Loan Committee at Union Bank, CA. Financed both commercial projects and residential (tracts and condos).
  • 1993 -1994: Served as Contract CFO for Southwest Property Investments, a privately owned commercial real estate firm in San Diego, CA.
  • 1995-1997: Served as Chairman of Revest Financial Software, Inc., a company that I founded to produce and sell commercial leasing software to real estate developers and brokers.
  • 1998-1999: Served as Senior Vice President and Banking Manager for the Commercial Real Estate Construction Loan Department for City National Bank, San Diego, CA.
  • 1999-2009: Served as Senior Vice President and Banking Manager for the Commercial Real Estate Group for Bank of America, San Diego, CA. Portfolio included over $1 billion in Construction and Bridge Loan Facilities for commercial real estate including apartments, condos, mini-storage, hotels, office and industrial, mixed-use, bio-tech, and retail shopping centers.
  • 2009-2012: Managing Director, OliverMcMillan.com. Responsible for referring project acquisitions. OliverMcMillan is an established national commercial real estate development company.

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Past Expert Witness Summary:

  • Retained 34 times as an expert or consultant
  • Testified 17 times by deposition or in Superior Court
  • Represented Plaintiffs: 8 times
  • Represented Defendants: 26 times

Expertise:

  • Construction and permanent lending
  • Commercial leases
  • Commercial lending (secured and unsecured)
  • Committee approval process
  • Credit policies and procedures
  • Managing forbearance agreements and workouts
  • Credit administration and underwriting

Services Provided:

  • Quick initial review and opinion regarding weaknesses and strengths of claim
  • Suggestions for direction and elements to pursue
  • Expert testimony and court appearances
  • Consulting expert
  • Preparation of relevant materials/ schedules to illustrate points
  • Evaluation of opposition experts and the expert’s testimony

Prior Areas of Testimony or Consulting:

  • Lender liability—S&Ls, banks, and mortgage companies
  • Alleged non-performance by financial institutions
  • Verbal commitments by lenders
  • Financing feasibility
  • Standards of care in underwriting
  • Credit procedures
  • Appraisal competency
  • Partnership disputes
  • Mortgage company “duties” to clients

Type of RE Projects Financed or Administered:

  • Single Family Residences
  • Single Family Subdivisions, including Acquisition and Development
  • Residential Condominiums, including Acquisition and Development
  • Land and Land Improvements for Residential, Office, Industrial, and Retail
  • Hotels
  • Office and Industrial
  • Research and Development including Scientific Wet Lab
  • Apartment Complexes
  • Shopping Centers
  • Medical
  • Mixed-Use
  • Industrial, including Bio-tech (Scientific wet lab)
  • Mini-storage facilities

Education:

  • 1958-1961: Lamar University, Beaumont, Texas, BBA-Marketing
  • 1962: North Texas State University, Denton, Texas, MBA-Management
  • San DiegoCommunity College: Completed all courses for AA Degree in RE
  • Various credit, appraisal, and RE underwriting classes at Union Bank

Jack P. Webster