Certified Forensic Loan Audits on Robo- Signed assignment of mortgages
When conducting a certified forensic loan audit the auditor performs a scientific investigation of a loan to determine if any laws have been broken. The audit is aimed to find cases of bribery, extortion, and conflict of interest. A certified forensic loan audit is a comprehensive analysis of all the loan documents the audit identifies;
- The type of fraud that is being committed by the lender.
- The time the fraud occurred.
- How the fraud was hidden from the parties involved.
- The loss that has been incurred as a result of the fraud.
- The parties involved in the fraud.
- The right information to use as evidence in the court.
- Suggestions on how to further avoid the fraudulent activities.
An assignment of a mortgage is a document that proves that the mortgage has been transferred from the original lender or borrower to the third party. During the mortgage assignment process the assignment is recorded and the promissory note is signed over to the interested party.
Any mortgage assignment should be recorded in the county records office that holds the property titles. The recordings of the assignments may be used in legal proceedings and hence it is important that the process is done lawfully. A forensic loan audit will be conducted before the court proceedings to ensure the process was done lawfully.
Instances of Robo-signing are considered fraudulent in the case of mortgage assignments, this is because the individuals signing the assignment documents will not have knowledge on the information that is contained in the documents. The audit will go through all the signatures and identify those that were signed without following the correct procedures that have been put in place. Robo –signing may affect any foreclosure agreements that may have been made as the assigned document will be deemed illegal