Forensic loan audits are a useful tool for mortgage modification services; they add leverage to the distressed homeowners negotiation with their lender for loan modification. Unfortunately, like with many other great services, there are scammers who claim to be qualified in performing forensic loan audits. Forensic loan audits must be performed by qualified or certified firms to be of any value.Some companies take advantage of distressed...more
Forensic mortgage audits are powerful tools for a loan modification attorney; but, they are not all the same! You cannot decide to use a certain company for this service based on price alone. In fact, if the price seems too good to be true, it probably is! The forensic mortgage audit must be performed by a certified forensic loan auditor in order to be of value. There are other elements in a forensic loan audit that you need to be aware of...more
Forensic loan audits are not just weapons that attorneys and mortgage modification services use to stick-it-to the bank. They are actually very good tools for the negotiation process when a distressed homeowner is facing foreclosure and they wish to modify their loan terms to have a more affordable and sustainable mortgage.Of course, finding and pointing out the errors do help provide leverage for the loan modification negotiations. Errors in calculation or violation of borrowers rights, even if unintentional, are liability issues to the mortgage lender. They are grounds for siding with the distressed homeowner, should they end up suing in court. In most cases, a lender will be compelled to modify the mortgage so everyone comes out a winner.If a homeowner who is facing foreclosure can show that they would be able to afford to make their mortgage payments if the loan was modified, it is in the best interest for the lender to agree. This is especially true in the case where the homeowner owes more than the house is worth; if the lender forecloses, he will likely have problems selling the home and coming out whole.There are several ways in which a loan can be modified to make...more
Forensic loan audits can be used to stick-it-to predatory lenders and mortgage brokers who purposely take advantage of borrowers with unsavory or unethical business practices. A Forensic Audit, also referred to as Forensic Accounting, is the application of accounting methods for tracking and collecting data for the investigation and prosecution of...more
A Forensic Mortgage Audit is a complete analysis of all the documents in your mortgage loan file. The purpose of a forensic mortgage audit is to uncover errors or violation of borrowers rights. Often, errors or violations are unintentional; however, still subject to penalization and liability to the lender or servicer involved at the time of...more
Subprime lending practices and economic conditions have led to the mortgage melt-down causing a flood of foreclosures. Mortgage fraud and predatory lending practices have increased, creating a demand for forensic loan auditors and mortgage modification specialists. In order to qualify as a forensic loan auditor who performs a forensic file review one must have a strong understanding of mortgage loan documents and mortgage laws and guidelines at the time of origination. A qualified forensic auditing service consists of a team of mortgage industry experts who specialize in consumer finance law and are skilled in consumer protection regulation. Performing a forensic loan audit involves an extensive and very thorough examination of the entire mortgage file to determine enforceability of the mortgage, note and related documents.When the investigation is complete the forensic auditing team compiles the data and prepares a report outlining all regulatory violations they discover and findings of predatory lending, mortgage fraud or other unfair or deceptive practices.Forensic loan auditors represent borrowers as they negotiate loan related disputes and agree to remedies or compensation...more
Forensic Loan auditing is necessary to determine mortgage loan enforceability in the event of predatory lending or fraudulent mortgage practices. There are several reasons a law firm or mortgage modification company would perform a forensic...more
Homeowners who have adjustable rate mortgages, are victims of predatory lending, or individuals who are having trouble making their mortgage payments now have a new weapon to add to their arsenal for negotiating power with their lender. What is...more
Forensic mortgage audits are being used as leverage for attorneys and mortgage modification experts to negotiate affordable work out plans with borrowers facing foreclosure. Studies show that at nearly 80 percent of mortgage loans contain State and...more
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Are you in trouble of mid month financial crisis? Have no funds with you? Are you facing bad credit issues in your life? Relax! In this situation, bad credit loans suits you a lot. If you are not aware about this loan deal then you can search online...more
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