Lawyers for Forensic Loan Audits

An important step in fighting a foreclosure is determining whether your loan contains illegal provisions or if the law was violated during the loan approval process.  One method of determining whether there were any violations of the law is a  forensic loan audit which is sometimes referred to as a mortgage audit.  Forensic loan audits are usually conducted by licensed attorneys.

A properly conducted forensic loan audit will include a thorough review of the loan documents and all the circumstances surrounding the loan by the loan auditor. As a part of the loan analysis, the loan auditor will interview you to ascertain what your loan officer, loan processor, mortgage broker, and real estate agent told you about the loan to determine whether you were in any way mislead about the loan you were receiving.      

Violations that Forensic Loan Audits Reveal:

Some of the most common violations which may be revealed by a mortgage audit include:

• Truth-in-Lending (TIL) Violations;
• Real Estate Settlement Procedures Act (RESPA) Violations;
• Homeowner Equity Protection Act (HOEPA) Violations;
• State Predatory Lending Violations;
• Good Faith Estimate Issues;
• Misleading or Omitted Disclosures;
• Fraudulent Appraisals;
• Falsified Loan Application and Supporting Documentation/Forgery;
• Lender/Broker Misrepresentations; and
• Violations of State Usury Law.

Reports for Forensic Loan Audits

At the conclusion of the forensic loan audit, your attorney or loan auditor will provide you with a written report that identifies all errors and violations in the loan along with your legal options.  This is critical to your decision to fight the foreclosure; therefore, before engaging the services of a forensic loan auditor, be sure that he will provide you with a written report and legal opinion at the conclusion of the audit.

Getting Help from a Lawyer

There are a lot of forensic loan audit software packages available on the Internet.  However, most of this software is not worth the money you will pay for and is no substitute for the expertise and advice of an experienced attorney.  Therefore, is you are considering a foreclosure challenge, hire an qualified attorney to conduct a forensic loan audit and advise you of your options.