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Loan Audits

Loan Audits

A Loan Audit is a comprehensive investigation of the documentation in homeowners existing loan(s). The purpose of the audit is to find violations within your loan documents that can be used to your advantage under the Truth in Lending Act or the Real Estate Settlement Procedures Act to identify potential federal and state lending violations when the loan was being originated. This includes RESPA, TILA, Section 5 of the FTC Act, HOEPA, which covers high cost loans, Consumer Protection Act and any state statues. We also look for UCC violations.

After performing thorough assessment of your loan documents and analyzing the original paperwork, legal documentation and disclosures associated with the loan, the Loan Audit will document what laws were broken by the lender and/or broker during the loan process. The Loan Audit will determine if the loan is even legal. Once your audit is complete, we present to you a written report, outlining all the violations, if any.

Securitization Audits

A Securitization audit is an audit done by our trained staff who scour through various publicly available resources (such as EDGAR: a SEC database, Bloomberg and etc.) to find proof that your loan was securitized (meaning your loan was pooled with other loans and sold to investors). This type of audit examines loans from after the loan was made to the borrower through it being financially engineered and transformed into a security and sold to investors.

Our investigation centers on what happened after the loan closed. We follow the sales and money to discover flaws and defects of the lender(s) as the basis to defend foreclosure or bring an action. Securitized loans encompass nearly all residential loans and most commercial loans originated after the year 2000. The loans undergo transformation to securities sold to investors and often lose their claim as a secured real estate loan in the process.

This audit enables us, as your attorney, to attack ownership, financial interest secured status, chain of title and other claims; it Flushes out third party loan servicers acting as owners or creditors and exposes them as third party vendors with miniscule financial interest. It also attacks the secured status of Trustees& often supports charges of misrepresentation, intrinsic and extrinsic fraud upon the court. Lenders faced with this evidence and losing in court may finally agree to settlement that was not on the table previously, including a sustainable loan modification, short sale or waive deficiency judgment.

Some of the Info discovered in our Securitization Audit

  • What Trust was your loan placed into and has that loan been paid in full already? (You’ve heard of Bloomberg?)
  • What is the pooling and servicing agreement revealing in regard to your investor/servicer activities and how well they are following them?
  • Have the deed and note been separated? (This is not legal- they must always remain together)
  • Was MERS involved?
  • Was your loan, assignment of loan, and/or foreclosure Robo signed?
  • Was your lender known to shred notes after placing them into trusts?
  • HAMP Mod- was it valid when the lender declined yours?