Forensic loan audit for court use

A forensic loan audit is a thorough analysis of the mortgage loan to determine if the lender has complied with the federal and state mortgage lending laws. Forensic loan audit can help you identify any possible violations which may have occurred and facilitate the client and their attorney with adequate legal grounds to litigate with a lender.

Forensic Mortgage Audit

About 95% of the mortgages may be legally unenforceable due to defects such as predatory lending and improper notices and lost documents. Mainly between 2000-2008, many lenders refinanced the loans and issued high-interest loans. Most of the homeowners of that time face so much problem because they end up not getting to afford them

Why conduct a forensic loan audit?

• Overstated value in loan income
• Misleading disclosures
• Documentation errors that can be used under the Truth in Lending Act (TILA)
• Excessive fees

According to the Federal Trade Commission (FTC), homeowners should avoid companies that:

• Encourage the homeowner to lease the home for a while and buy it later
• Advices the homeowner not to involve an attorney or lender
• Encourages the homeowner to make the payment through it
• Forces homeowners to sight contracts that are not clear
• Guarantee to stop the foreclosure process
• Advises you to transfer the deed

Homeowners should obtain a forensic loan audit even if they have decided to go ahead with the foreclosure. Having adequate information on loan violations is important in bringing a better settlement for the homeowners. Without proper negotiation from a professional in handling loan workout negotiations, the lender can still get a judgment for the rest of the money owed on the homeowner’s mortgage and can try to collect it years later. The forensic loan audit together with the attorney’s advice should give you a clear picture of the next move.

For a free consultation regarding a mortgage audit report, contact us here