Forensic Audit Review
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Forensic Audit Review
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Did you know that up to 95% of mortgages may be legally unenforceable due to defects like lost documents, improper notices, appraisal and/or predatory lending? A Forensic Loan/Mortgage audit will uncover these violations to help with your lender. Lenders become much more cooperative in renegotiating the terms of a loan and place your case at the top of the list. Take advantage of every conceivable resource that you can find to use against your lender. A forensic document examination can help determine whether or not there are any violations. This might be another piece to use against your lender that nobody else has.
What a Forensic Loan Audit will look for:
• There may be general loan documentation errors - Real Estate Settlement procedures Act (RESPA) Violations - Truth In Lending Act (TILA)
• The loan may have violations - Home Owner Equity Protection Act (HOEPA) Violations - Good Faith Estimate Compliance - Misleading Disclosures -
• There may be overstatements - Overstated Income In The Loan Application - Lender And Broker Misrepresentations - Usury Violations
• There might be excessive ARM adjustments - Excessive Points & Fees - Predatory Lending - Forgery - Loan Flipping
Loan Audits include a bottom-line recommendation for loan terms and short sale negotiations, providing a framework for negotiations with the lenders.
Loan Audit Review is very specialized and imperative in identifying if a borrower is a victim of predatory lending. The Review will cover loan documents and perform a thorough investigation for miscalculations and to determine if the loan terms are accurate, truthful, and met the requirements of the applicable federal statutes.
The goal of the Forensic Loan Audit is to determine whether there were violations of federal law in your loan documents. (Predatory Lending and Origination Fraud) If these violations are found, then the borrower may be eligible for complete relief of the predatory loan (refinanced only) or a very favorable loan modification. However, in most cases the borrower may be ineligible to rescind their loan because they are just too far underwater to obtain a new loan to replace the old loan and their credit rating may have been adversely affected by the loan that has cause them pain and suffering.
The most common option is just to mediate the loan with the lender and fight for an affordable loan restructure based on the violations on the loan. Everyone wins here. The homeowner has their loan fixed and may have their principle balance reduced also. The lender does not lose because they have resolved the matter without employing their legal department on the file and wasting expenses.
Your loan documents (the papers you signed when you applied for the loan and the papers you signed when you closed the loan) need to be reviewed. Also, it needs to be investigated whether the information and calculations provided in those documents was accurate, truthful, predatory and met the requirements of the applicable federal and state statutes. It needs to be just as the lender, broker, and agent told you about the loan. We focus on whether the loan you were told you were getting was actually the loan you received.
The results need to be used offensively to obtain favorable refinancing on the borrower's terms, an equitable and fair loan restructure, an approved short sale, a possible principle reduction, etc. Fraud, violations, miscalculations, etc need to be uncovered quickly.
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IMPORTANT NOTICE: American Foreclosure Specialists (AFS) and our services are not approved by the government or your lender. www.afscanhelp.com is not associated with the government, nor is it a government sponsored website. To access information on government sponsored assistance, please visit makinghomeaffordable.gov. You need to know that even if you accept our offer and use our service, your lender may not agree to change your loan. Also, if you stop paying your mortgage, you could lose your home and damage your credit rating. Work Out and Loan Modification Plans vary and are dependent upon mortgage company criteria and financial information gathered as part of the efforts AFS provides. The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the website is accurate and complete at the date first published, however you should recognize that information contained on this website may become out of date over time. Readers who have particular questions regarding real estate law, finance, or who believe they require legal counsel, should seek the advice of a financial advisor or an attorney. AFS is neither a bank nor an attorney company. By submitting this contact request, you are consenting to be contacted by foreclosure specialists by telephone and/or email, even if you have previously listed yourself on any state or federal Do-Not-Call List.