Our Forensic Loan Audit (or Mortgage Forensic Audit) Targets Predatory Lending Practices –
There are specific laws and guidelines that must be followed when a lender underwrites and funds a mortgage. If your lender failed to stay within those guidelines set by federal and state lawmakers, you could have a strong legal case. Our loan audit division will perform a forensic loan audit during which we review all of your loan documents and then determine whether you have fallen victim to predatory lending practices.
Your loan may contain civil law violations uncovered by the mortgage forensic audit (e.g. predatory lending practices). All mortgages must comply with fair lending laws and be void or predatory lending practices. Any error or omission on the part of a lender or their agents constitutes a violation. Our mortgage forensic loan audit division verifies compliance with these laws and helps stop foreclosure.
Our Mortgage Forensic Audit or Forensic Loan Audit will determine if any STATE or FEDERAL laws were violated during the origination and/or servicing of your Mortgage.
Your mortgage will be scrutinized for:
Predatory lending practices or deceptive lending practices
Violations under state and federal laws including RESPA, TILA or HOEPA
Consumer Protection Law violations including unfair, abusive, or fraudulent business practices
Violations relating to how your fees and/or interest was calculated
When any violations are found in your loan documents, The Foreclosure Law Center may use these violations to:
Negotiate a more affordable mortgage payment
The FLC Audit Division provides the following services to safeguard against predatory lending practices:
Comprehensively 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
Ensures compliance with new regulatory requirements, changes to existing laws, and evolving loan products and predatory lending practices including lender fraud.
Provide clients with detailed audit results which are quickly and easily accessible in either HTML or PDF formats
Our forensic loan audit, or mortgage forensic audit, reviews mortgage loan documents for compliance with over 335 federal and state mortgage lending laws, including regulatory requirements related to:
Mortgage Electronic Registration System (MERS)
Truth in Lending Act (TILA)
Home ownership and equity protection act (HOEPA)
Real Estate Settlement and Procedures Act (RESPA)
Home Mortgage Disclosure Act (HMDA)
Fair Housing Act (FHA)
Equal Credit Opportunity Act (ECOA)
State and Federal Predatory Lending Laws; Lender Fraud
Fee limits and other restrictions
Higher-rate, higher-risk, higher-priced, subprime, nonprime, and rate spread laws
Prepayment penalty enforceability
Late fees and grace periods
Interest calculation and accrual requirements
Debt -to-income requirements
Negative amortization prohibitions
Payment and other term limitations
Escrow and impound restrictions
Critical aspects of the eligibility requirements of the Home Affordable Modification Program
A simple 4 step process…
You submit the loan file to The Foreclosure Law Center
We then perform the Forensic Audit Review on your loan documents
We compile a detailed compliance review report identifying and explaining all discovered violations and predatory lending practices
The Foreclosure Law Center utilizes your mortgage forensic audit in an attempt to get your loan modified.
This article is from http://www.theforeclosurelawcenter.com