Certified Forensic Loan Auditors, LLC - Forensic Loan Audit Uses


Upcoming Classes
09/20 SAN DIEGO 08/30 SAN DIEGO 08/12 ORLANDO 08/02 SAN DIEGO 07/12 SAN DIEGO 06/21 SAN DIEGO 05/31 SAN DIEGO 05/10 SAN DIEGO 04/26 SAN DIEGO 04/12 SAN DIEGO 03/22 LOS ANGELES 03/08 SAN DIEGO 02/22 LOS ANGELES 02/08 SAN DIEGO 01/25 LOS ANGELES 01/11 NEW YORK 12/14 LOS ANGELES 11/16 SAN DIEGO TBD: WASHINGTON TBD: ORLANDO Future dates TBD, check website regularly for updates

FORSENIC AUDIT USES Principal Reduction When a property is upside down and the homeowner is facing foreclosure, the homeowner has more leverage than they may realize against their lender. Our service can force that leverage upon that lender. In doing so, you can be successful in wiping out large portions of principle. Typically 50-80%! Loan Modifications Loan Modification - most major lenders and service providers will negotiate a loan modification where most of the delinquent payments and foreclosure fees are either wiped out or added onto the back end of the loan. In most cases the interest rate and payment will be reduced permanently. Homeowners need to prove what the maximum payment is that they can afford by constructing a financial plan that the lender will approve, and since the homeowner is often late with their payments and in foreclosure or soon to be in foreclosure, the lender must be asked to forgive the delinquent payments or put them on the back of the loan. Interest Rate / Payment Rate Reduction With the overwhelming increase of interest rates resetting on home loans and the devastating effect of this economy, many homeowners are faced with mortgage payments they can no longer afford. It is better to lower the homeowner's payment by lowering the interest rate or payment rate by creating a payment plan the borrower can afford, than to take the home with a foreclosure sale and lose money on the re-sale. Keep in mind lenders lose money on bank owned properties as it will sell for less than market value, and they must pay a commission to a Realtor; and closing cost plus the cost of holding the property while they wait for a sale in a market that is depreciating.	At its heart, a forensic loan audit is a process that breaks down and analyzes a set of loan documents to determine if all parties completed proper procedures and complied with regulations during the origination of the loan. Today, the forensic loan audit represents a powerful tool to help clean up the mess left behind by the mortgage meltdown, as well as to safeguard against a future disaster. Here’s how. With courts recently gaining power to demand loan modifications in some instances, forensic loan audits likely will change how the lending business operates. The system will be more tightly regulated and focused on loan quality, rather than loan quantity. Lenders will seek brokers who consistently produce loans that perform. In turn, forensic loan audits could make it easier for lenders to highlight lending patterns connected to a single broker. They also could help brokers improve their own work and build a reputation based on quality. Soon, lenders may perform an exit audit on each loan to ensure that the file is in order. Every loan a broker brings in also is likely to face closer scrutiny to ensure that all compliance regulations were met. These exit audits could prevent errors from slipping through the cracks. As the use of forensic loan audits becomes more widespread, mortgage brokers must know what a forensic loan audit is and how it can be used.	What is it? A forensic loan audit looks at loan documents for miscalculations, and it requires performing thorough investigations to determine if the loan terms are accurate, truthful and meet requirements of the applicable federal statutes. These regulations include the Truth in Lending Act, the Home Ownership and Equity Protection Act, and the Real Estate Settlement Procedures Act. The federal statutes determine which federal requirements need to be met by the lender in issuing the loan. These include mandatory disclosures, how and when such disclosures are made, limits on annual percentage rate, and a number of other requirements. Forensic loan audits also should analyze a loan to determine if it meets state and local requirements. Every state has some form of lending regulation. Some states choose to implement statutes that have language almost identical to that of the federal statutes, while others go well beyond the federal statutes and put even more restrictions on the lending industry. States also may create their own causes of action for additional requirements. For example, California requires that a consumer who negotiated any sort of contract in a language other than English be provided with a translated copy of the contract. In California, Nevada and Michigan, the lender must be able to prove that it had a structured internal policy to ensure the accuracy of the stated income on all stated-income loans. According to these states’ laws, this policy must be accurate and reliable.
CONTACT US FOR PRICING QUOTES AND BULK DISCOUNTS!!!!!! This service includes an extensive Forensic Loan Audit of your Real Estate Documents by a Certified Forensic Loan Auditor to uncover TILA, RESPA, Civ Code, Business & Professions Code, and many other State and Federal Violations by the Lender in areas such as Fraud, Predatory Lending, Unfair Business Practices, Disclosures, and many others for the purpose of (1) Principal Reduction, (2) Interest Reduction, and (3) Loan Modification. This package includes a Qualified Written Request to the Lender or "QWR" which is a demand letter hand crafted by one of our Attorneys outlining the violations found in the Forensic Loan Audit, which necessitates a response from the Lender within 20 business days.

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