Forensic Loan Audit

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.