Forensic Loan Audit

You know your sick and tired of your mortgage company sending you threatening letters. Now it’s time to do something about it. The latest statistics show that 83% of all mortgages have violations in them. And you might be wondering, “What’s a violation and what does it mean?”

Essentially, it means your mortgage company broke a law. There are case laws that offer specific requirements for mortgage companies to follow and if they don’t follow those requirements then there are penalties. In some cases your mortgage company could be required to refund you some of your money. Here’s what you do:

1. Hire an attorney that specializes in loan modifications
2. Have your attorney order a mortgage document review
3. After your review reveals violations to any applicable state, federal, or local laws, authorize your attorney to meet with your mortgage company to negotiate a loan modification

Pretty simple, right?

It is simple, but there are complex laws that require certain documentation of your mortgage company. The mortgage document review is the one tool that can show any violations, giving you the evidence you need to win in court and/or seek a more fair and equitable mortgage agreement. A qualified attorney can help, but you’ll need the document review to be your leverage.

A reputable mortgage company will perform its own loan audit before the paperwork is signed. It just makes sense. Otherwise, they’ll be hearing from us.

So what is a loan audit?

A loan audit, simply put, is a review of your mortgage documents to ensure that they comply with all relevant local, state, and federal laws. A borrower must receive certain notices on a specifically defined time frame depending on the type of mortgage applying for. If the lender fails to provide these notices then you have a right to rescind your loan in many cases and could be entitled to a refund of your payouts.

It’s not a difficult process getting a loan audit. Your loan auditor should tell you right up front how long you can expect to wait to get your results in and how long the entire process should take beginning to end. That’s not to say you can know for sure the exact length of your situation (they all vary), but a general idea is a good start. If you think you may need a loan audit then contact an attorney and request one.