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Experts Agree 4 out of 5 Mortgage Loans Contain Serious State and Federal
Violations
Now, a borrower can take a more offensive approach, and have a better chance of loan
modification, principal and rate reduction, refund, or rescission, regardless of their hardship or
payment history!
• 85% of those repeat offenders were highly rated by the FDIC for
their in-place compliance process
Many loans funded during the "boom" years of 2002-2006 were performed with legal
violations. Although only a fraction of the loans were funded with blatant disregard
for the law, the majority of loans have significant State and Federal violations
resulting from carelessness, greed or just innocent oversight by the lender and/or
broker. However, no matter why these violations were performed by the lender,
these violations carry EXTREMELY stiff financial penalties for the lender, and can
result in SERIOUS legal consequences to the lender, such as forcing the lender to
refund all interest paid to date back to the borrower.
If these violations are found, then the borrower may be eligible for complete relief
of the predatory loan or a very favorable modification. Complete relief of the
predatory mortgage is called as a loan rescission. Meaning the lender takes back
the “predatory loan” and awards or credits back to the borrower all interest made
on payments thus far, loan origination fees, all applicable lenders fees, penalties
and attorney’s fees
A forensic audit audits a loan for compliance against more than 330 consumer
protection laws, is widely recognized by the mortgage industry as the most
comprehensive and precise auditing tool available.
A forensic audit;
• Quickly analyzes mortgage loan data for compliance with critical provisions of
more than 335 federal, state and local mortgage-related consumer protection
laws and regulations.
• Compliance decision rules are maintained by in-house mortgage compliance
attorneys and audited by nationally-recognized outside counsel.
• Updates and enhancements are implemented regularly to ensure compliance
with new regulatory requirements, changes to existing laws, and evolving loan
products and lending practice.
How Does a For ensic Loan Audit Help?
All mortgages must comply with fair lending laws. Any error or omission
on the part of a lender or their agents constitutes a violation. Our
forensic loan audit verifies compliance with the following: