Certified Mortgage audit report

This report contains a detailed analysis of loan documents and disclosures. The report is conducted by an auditor who performs an audit to uncover lender overcharges that are caused by miscalculation of interest charges and monthly payments on the loans.

The certified loan audit analyzes the terms and agreements for a loan and attempts to find out if there any violations on any federal laws. In some cases homeowners may use the results from the audit to obtain refunds from the lenders for overcharges and miscalculations.

Another   importance of the mortgage loan audit is to ensure that the mortgage was offered legally. This will ensure that the client will not face any trouble when paying back the mortgage. The report is given to ensure that the client understands the different clauses that are contained when signing for the mortgage so as to avoid future problems.

The report contains a review on the terms of your mortgage and the assessment that has been done to establish the validity of your loan .the report should contain;

• The summary of findings for your client to make sure that they have a clear understanding of what is included in the report.
• The scope of the work /audit done- This is used to prevent any liabilities that may occur.
• Findings of the investigation –This is the main part of the report as it shows a record of the irregularities.
• Conclusion of the investigation and the requirements for the report.

The mortgage loan audit report is a huge responsibility in an audit. The reports are used as evidence to resolve cases that may arise and are presented to the person that is seeking for the audit to be done. The report is essentially the last part of your investigation.