Why you need a Certified Mortgage Securitization audit

Mortgage securitization is the process of combining mortgages of similar characteristics into a pool which is later sold as debt securities that draw interests from the principal payments accrued from the pool of combined mortgages.

The securitization of mortgage audits is important as it creates a more competitive mortgage market advantage and also encourages new investment firms to join the mortgage business. The securitization of mortgages also results in a reduced interest rate on mortgages. This causes the rise in consumer demands for mortgage backed housing.

Auditing your securitized mortgages is important as you may find some errors that may cause the process of securitization to be deemed illegal. The process of auditing mortgages initially starts with tracking of the promissory note. This note is a legal document that sets out the terms of the mortgage between a borrower and the lending institution.

The certified mortgage securitization audit also reviews the chain of the title from the owner to the trust. The audits are done with a certified mortgage securitization auditor who oversees the audit process from investigation and comes up with a detailed report on the findings of the audit.

Homeowners need certified mortgage securitization audits for the following reasons;

• The audit makes the homeowner aware of any illegalities that may have occurred in the process of acquiring the securitized mortgage.
• The audit helps homeowners have sufficient evidence that they can use to either bring the lenders back to the negotiating table or use the information in court should they wish to follow up the case.
• Homeowners are also able to be informed of any misleading disclosures in regards to the mortgage.
• The homeowner may also be made aware of any overstated values in the loan income and any excessive fees that they may have paid.

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