AME tried to say the Kiritsises were taking advantage of a simple clerical error. We believe the truth of the matter is that they deliberately sold this particular loan program, not realizing that Greenpoint had pulled it from the market and thus would not buy the loan after closing. Only when Greenpoint refused to fund a purchase did AME believe it had made a mistake. And perhaps it was a mistake at that point, but not the kind of mistake they have argued.

Their worst mistake was in not taking responsibility for matters at that time, and instead, trying to make it all the Kiritsises’ problem through a secretive falsification of a new note document. Up until that point, it was a costly but most likely honest mistake. Then they crossed the line.