CFLA (Certified Forensic Loan Auditors) is a foreclosure relief services company. CFLA is used in fraudulent foreclosure “rescue” professionals use half-truths and outright lies to sell services that promise relief to homeowners in distress. According to the Federal Trade Commission (FTC), the nation’s consumer protection agency, the latest foreclosure rescue scam to exploit financially strapped homeowners pitches forensic mortgage loan audits. CFLA is a major purveyor of such audit services and conducts training courses to teach others to perform and sell the audits. CFLA aggressively promotes its loan audit, securitization audit, and chain of title audit services to home loan borrowers (mortgagors) who have defaulted on their loans and feel desperate to prevent foreclosure. CFLA gives such desperate borrowers false hope that the borrowers can use their audits and expert witness testimony to avert foreclosure, even though borrowers breached the terms of their loan contracts and really ought to lose their homes to foreclosure. Forensic Loan Audit and the benefits A Forensic Loan auditor will surely be the best bet while going in for a short sale. Audit will be an integral part of the process especially if you don’t have much knowledge about the financial products and the way they work. Forensic loan auditor will make will take measures that will be unbiased and in the best interest of the customer who is taking a loan from a lender or is undergoing a short sale.
A mortgagor in foreclosure who purchases a loan-related audit from CFLA or any other company has little to no chance of averting foreclosure because of information contained in the audit. There are the following statements by experts show why.
Mortgage Loan Securitization Audits Are a Crime: A person who violates any provision of this section commits an unfair and deceptive trade practice as defined in CFLA. Violators are subject to the penalties and remedies provided CFLA, including a monetary penalty not to exceed $15,000 per violation. Furthermore, see how and why securitization trusts beneficiaries can ratify violations of the securitization trust pooling and servicing agreement and that the borrower has no standing to dispute or enforce such violations.
A forensic loan auditor will go deep into the contract documents and check for any unlawful terms and any violations that have been incorporated into the contract which may harm the borrower. Generally the tendency of the borrower at the time of signing the contract is to just sign the contract hurriedly and not go into the in-depth of the points mentioned in the contract. Moreover the terms and conditions in the document may be large enough for the borrower which cannot be read and analyzed by a layman within a span of say one or two days.
A Forensic loan auditor is well versed with the terms and conditions and the guidelines lay down by the federal for lending purposes. They are experts in catching hold of any lacunae or any pitfall that may prove to be disadvantageous for the borrower. Although reputed lenders do not stoop to practices which may harm the borrower and their reputation but the real estate boom had created many organizations that in a hurry to make a fast buck did all kinds of illegal activities.
A Forensic loan auditor will catch all the lacunae and any illegal terms and conditions mentioned in the contract that may be overlooked by a layman and will present it before you and the courts. The Lender in turn may be perturbed by the legal course of action which may mar his market position reputation and time. In this process there are even chances of the borrower getting the best deal in terms of a low settlement. Thus a forensic loan audit is not an additional expense on the borrower but it is best and most trusted way of getting your loan settlement done in your interest.
In exchange for an upfront fee of several hundred dollars, so-called forensic loan auditors, mortgage loan auditors, or foreclosure prevention auditors backed by forensic attorneys offer to review your mortgage loan documents to determine whether your lender complied with state and federal mortgage lending laws. The “auditors” say you can use the audit report to avoid foreclosure, accelerate the loan modification process, reduce your loan principal, or even cancel your loan. Nothing could be further from the truth. According to the CFLA and its law enforcement partners:
Spotting a Scam: CFLA spotting some scam if you’re looking for foreclosure prevention help, avoid any business that:
Finding Legitimate Help: with the help of CFLA we fine legitimate help and:
Housing experts say that when you’re behind on your mortgage payments, maintaining communication with your lender is the most important thing you can do. Contact your lender or servicer immediately if you’re having trouble paying your mortgage or you have received a foreclosure notice. You may be able to negotiate a new repayment schedule.
For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.