Certified securitization forensic loan audits

A forensic audit is a determination of whether a lender has violated any federal, state, or local laws in servicing a loan. This is done through a thorough scientific investigation of the loan. The evidence found from this investigation may then be used in a court of law or legal proceedings.

A forensic audit may be used to a party for fraud, embezzlement, or any other financial crimes. A forensic audit is a branch of accounting and is normally found in most accounting institutions as the audit requires an expert in the field of accounting and auditing procedures as well as knowledge of legal frameworks needed for such audits.

In forensic audits, an auditor is normally on the lookout for conflicts of interest where a person may use their influence to the detriment of the company. They also find evidence of extortion and bribery.

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The steps involved in forensic loan audits include:

  • A system update-This is done to check the accounting systems.
  • Risk assessment-To check on the type of risks that can be found in the audit.
  • Analysis of the loan balance
  • Audit of interest rates
  • Audit of the legitimacy of the payment order
  • Audit of the liability of the bank guarantor
  • Audit the lending principles to see if they were adhered to.
  • Conduct a feasibility study for the bank or tax purposes.
  • Report delivery of the audit process.

Loan securitization mostly involves the pooling of some types of debt instruments and creating a new financial instrument. Banks may opt so securitize loans as a means of risk management. Loans are converted into securities and then bought and sold in financial markets.

The certified securitization forensic loan audits refer to the use of a certified third-party researcher who searches through various publicly available resources to check if your loan was pooled with other loans and sold to investors or in simple terms securitized.

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