Certified forensic mortgage audit reports

The process of forensic audit is somewhat  similar to that of a financial audit with similar but it involves the steps of planning, collecting evidence a report writing the difference being that forensic audits may include an  additional step of a court appearance.

A forensic loan audit is scientific investigation of a loan to determine if any laws have been violated. The forensic auditor is tasked with looking for cases of fraud in the form of bribery, extortion, and conflict of interest.

A certified forensic mortgage audit reveals cases of fraud and corruption that may occur when acquiring a mortgage. The audit report is usually the last step in any investigation and hence the report should give a clear report of the findings of the forensic audit.

The steps that are taken when conducting a forensic audit investigation include;

• Identify what type of fraud is being carried out.
• Identify the time period that the fraud occurred.
• Establish how the fraud was hidden.
• Identify the perpetrators of the fraud.
• Quantify the loss that has been incurred due to the fraud.
• Gather evidence that is admissible in court.
• Suggest measures to prevent future cases of fraud.

The homeowner is made aware of all the documents in the mortgage contract. This is the reason for writing the mortgage audit reports. The forensic mortgage audit contains a comprehensive analysis of all the mortgage documents.

The mortgage audit reports are necessary when making a deal with the creditors. Most creditors will avoid any litigation that may arise and hence make them willingly cooperate with the homeowner. The report makes the homeowner aware of the errors that he /she may have not been made aware of in the process of getting the mortgage loan hence have some form of leverage against the creditors.