DCL/Finding Evidence in a Mountain of Data

David Kaaret | Principal Sales Engineer, MarkLogic
Mike Will | Co-CEO & Founder, ESI Laboratory
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Litigation support in for RMBS is extremely demanding from a data management perspective. It requires a single source of truth, the ability to quickly onboard new data sources, data integrity, reliability, and security. Once the data is loaded, it must be easy to access a consolidated view of all the data. To handle these needs requires data management capabilities that goes beyond those found in traditional data management systems. These capabilities include pulling together independent but overlapping data sources, both structured and unstructured data, and the linking of data that might otherwise be considered independent.

Residential Mortgage Backed Securities (“RMBS”) litigation is the most data intensive of all big-ticket litigation. In order to prevail at trial, lawyers, expert witnesses and reunderwriting vendors will review millions of pages of loan related documentation under extreme time pressure. Buried in this mountain of documentation is the evidence necessary to establish whether or not securitized loans were originated in accordance with applicable underwriting guidelines. To date, RMBS litigation data management has involved a combination of relational databases (operated by vendors) and spreadsheets (reviewed by lawyers). As the size and complexity of RMBS litigation has increased the limitations of current RMBS litigation data management practices has become self-evident. To address the needs of litigants and their advisors, ESILAB has developed an online MarkLogic based solution that has transformed RMBS litigation data management delivering more accurate data at a significantly reduced cost.


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about the presenter(s)

David Kaaret,
Principal Sales Engineer, MarkLogic

David Kaaret has Worked with major investment banks, mutual funds, and online brokerages for over 15 years in technical and sales roles. He has helped clients design and build high performance and cutting edge database systems and provided guidance on issues including performance, optimal schema design, security, failover, messaging, and master data management.

Mike Will,
Co-CEO & Founder, ESI Laboratory

Michael has a background in both law and technology. He has practiced law as both a litigator and transactional lawyer. His experience as a litigator was gained at Clifford Chance, Lloyds of London and Quinn Emanuel Urquhart & Sullivan. As a finance lawyer he worked at Allen & Overy where he specialized in derivatives and structured finance. A serial entrepreneur, Michael is the founder of ESILAB’s financial services and legal big data consulting practice and is the originator of the ESILAB technology suite (including Production Analyzer) overseeing all aspects of development and commercialization.

Prior to establishing ESILAB, Michael was the founder of docGenix and co-founder of aoSphere (formerly Derivative Services LLP), where he conceived and developed the original technical architecture and document model behind the award winning netalytics and CSAnalytics products – the defacto market standard for electronic netting and collateral legal advice which are used by 60% of the world's largest financial institutions as well as global regulatory authorities. Michael is a member of the CFTC's Data Standardization sub-committee and has advised the SEC, CFTC and U.S. Treasury (Office of Financial Research) on matters pertaining to the machine readability of legal agreements. He has also a member of the FpML Standard CSA Working Group and is its former co-chair.