subject: Forensic Mortgage Audits: They Are Not All The Same! [print this page] 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 before you pay for the service.
A good forensic mortgage audit is a complete examination of every document in your mortgage origination and closing file. All mortgage documents should be reviewed and compared to all relevant mortgage case laws.
Though the main purpose is to reveal lender violations, the auditor should not guarantee that they will find errors; it is possible that there are none.
Many auditors use special software; however, a forensic mortgage audit should be gone over by human eyes. There is no software that can possibly catch every error.
Clients should be provided with a complete written report containing an analysis of all problem areas.
A complete forensic mortgage audit, properly performed, will give you a comprehensive report that indicates how to proceed with negotiations with a lender to agree on mortgage modification.
This article was written by Ralph Mark Maupin, a real estate professional who has been in the industry for over 25 years. My Mortgage Auditor helps 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.mymortgageauditor.com
by: Nichole Jackson
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