Mortgage Loan Audit Analysis
August 23rd, 2009 | by admin |A Mortgage Loan Audit Analysis is a comprehensive loan investigation report which will identify infractions and violations committed by your lender and/or broker when they originally funded your loan.
Obtaining an audit should be the first step on your quest to successfully modify your home loan. If you are behind on your mortgage payments, facing default or foreclosure the audit is a critical tool that will be used as leverage to argue your case with your Lender(s).
Again, it will highlight the laws that were broken, if any, by your broker or by your lender. Over 80% of Mortgages Have Violations, we find violations in *RESPA and *TILA.
Loans with illegal terms or conditions are not enforceable. Mortgage payments are not accepted during the foreclosure or litigation process. Lenders will choose the most rational and fiscally sensible response when presented with the legal facts. Most lenders will choose Loan Modification as the most financially sensible option.
Keep in mind, you are not alone in this nationwide financial crisis. Times are extremely tough for millions of homeowners like you and thankfully there many active laws and consumer groups to protect you.
Understand this fact, before you can effectively get your lender to modify your loan, YOU MUST KNOW WHAT VIOLATIONS ARE CONTAINED IN YOUR LOAN DOCUMENTS.
Did the loan officer accurately disclose the loan terms to you? ·
Did you sign a separate broker fee agreement?
Was your home’s value inflated by the lender’s appraiser?
Did the lender fail to verify your ability to repay the loan?
Were you given all federal and state disclosures?
Were you properly notified of your right to cancel the loan?
Do your closing documents contain any technical errors?
Were you charged excessive or undisclosed fees?
Has your loan been sold without your knowledge?
Any and all applicable federal and state law violations
Knowing the answer to these questions is the key to obtaining a favorable outcome during the Loan Modification process. The factual and legal leverage you will get from a Mortgage Audit Analysis will give you the best chance to get your loan modified.
A Mortgage Loan Audit Analysis Report is a complete assessment of all factual findings identifying violations along with other areas of fraudulent discovery so you can pursue possible legal claims against your broker and/or lender.
So, if you are in foreclosure, the best way to stop your foreclosure is to get a loan audit, then get your loan modified.
Mortgage Loan Audit Pricing
ORDER NOW – CALL: (407) 366-3999
* Reg. Mortgage Loan Audit $450.00 (1st mortgage) $600.00 (1st & 2nd mortgage)
3 Responses to “Mortgage Loan Audit Analysis”
By admin on Sep 2, 2009 | Reply
Home Ownership and Equity Protection Act (HOEPA)
The Home Ownership and Equity Protection Act, referred to by the initials HOEPA, is a federal law enacted by congress in 1994 and made a part of the Truth in Lending Act as 15 USC 1639 et seq. The law specifically regulates loans against a consumer’s home at high rates of interest or that contain high costs and fees. A HOEPA loan is subject to specific disclosure requirements and certain types of terms are prohibited under specified circumstances.
In December 2001, the Federal Reserve Board amended the HOEPA regulations to include more types of loans under its disclosure requirements and reorganized Regulation Z to include a section listing certain prohibited acts or practices in covered consumer home loans.
By admin on Sep 2, 2009 | Reply
Home Mortgage Disclosure Act Regulation C (HMDA)
The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1974 and implemented by the Federal Reserve Board as Regulation C. The regulation was promulgated by concerns that there were credit shortages in certain urban neighborhoods. The one purpose for this regulation is to provide the public with information regarding financial institutions’ record of assisting in the credit needs of the neighborhoods and communities in which they are located. The regulation through the various amendments requires lending institutions to collect and disclose data regarding the applicants and their characteristics. The HMDA regulation thereby allows for the public to determine possible discriminatory lending patterns and assists in enforcing anti-discriminatory statutes.
By admin on Sep 2, 2009 | Reply
Truth In Lending Act Regulation Z (TILA)
The Truth in Lending Act (TILA), Title I of the Consumer Credit Protection Act, is aimed at promoting the informed use of consumer credit by requiring disclosures about its terms and costs. In general, this regulation applies to each individual or business that offers or extends credit when the credit is offered or extended to consumers; the credit is subject to a finance charge or is payable by a written agreement in more than four installments; the credit is primarily for personal, family or household purposes; and the loan balance equals or exceeds $25,000.00 or is secured by an interest in real property or a dwelling.
TILA is intended to enable the customer to compare the cost of a cash versus credit transaction and the difference in the cost of credit among different lenders.