subject: Forensic Loan Audits For Mortgage Modification [print this page] 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 for the fraud victim or distressed borrower. Compensation might include the right to rescind the loan, stop the foreclosure process, recoup over charges with back interest, reduction of the loan balance, modified loan terms, interest refunds or other monetary damages.
This article was written by Ralph Mark Maupin, a real estate professional who has been in the industry for over 25 years. County Loan Modification has helped distressed home owners in South East Michigan keep their homes by modifying their mortgage to an affordable and sustainable loan. Through diligent representation of homeowners, they negotiate a modification or resolution with lenders. Learn more at http://www.countyloanmod.com
by: Nichole Jackson
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