For both lenders and borrowers, loan auditing is an action that can prove quite beneficial to the mortgaging process. Since mortgages are such a risky process for both parties, the law requires that the loan meets a range of requirements. In the United States, the requirements for loans are governed by several forms of legislation - TILA, RESPA, HOEPA. In the event that a lender has violated any of these terms, they may have be subject to certain limitations by law. For example, if a lender in the process of a foreclosure is found in violation of lending laws, the foreclosure may be stopped, or at least delayed, and a wrongful foreclosure lawsuit may occur. As a homeowner, it is of even greater importance to ensure the legality of your loan, especially if you are facing foreclosure. If evidence is found that the lender did not provide a legal loan, it could be used as grounds for wrongful foreclosure.