What is a Forensic Loan Audit? A Forensic Loan Audit is a process whereby your existing loan package is dissected and reviewed by industry experts. The audit is designed to find calculation errors in the original loan documents, as well as uncovering any state or federal violations against any of the following acts of government:

• The Truth in Lending Act (TILA), 
• The Home Mortgage Disclosure Act (HMDA),
• Fair Housing Act (FHA),
• Real Estate Settlement and Procedures Act (RESPA),
• The Equal Credit Opportunity Act (ECOA),

or any other state and federal predatory lending laws.

Who should order a Forensic Loan Audit? Homeowners, attorneys, realtors, and loan modification companies who are looking for errors, omissions, or violations in the loan documents should order this AUDIT. The findings could result in valuable details that are otherwise not available, and which could result in a refund or renegotiated loan terms for any borrower.

How does it work? When your loan was originated, you were presented with a stack of documents to review and sign throughout the loan process. When lenders were very busy and pushing out loans quickly, mistakes or oversights were made either intentionally, or unintentionally. Our Forensic Loan Audit searches for fraud, excessive fees, breach of contract, predatory lending, and negligent misrepresentation to assure your legal rights have not been violated. Even with good intentions, calculating errors may have been made, certain disclosures may have been omitted, or perhaps documents may not have been reviewed or properly signed. Our Forensic Loan Audit takes apart your loan package and our experts look at every page searching for these errors, omissions and irregularities. Once found, these items are analyzed to see if there were any mathematical errors, or if a violation, or multiple violations, of any federal or state laws have occurred.

What can you gain from a Loan Document Audit? If mathematical errors were made in figuring the finance charges, you could be due a refund of these and related charges, going back to when the loan was originated.  Banks perform similar in-house audits to check the validity of the loan before they sell it to an investor. They want to know if the loan package meets all of the required laws and regulations and has good value; or if it is a loan riddled with irregularities, deficiencies or violations which may cause it to be invalid if challenged.

What could happen if irregularities or violations are discovered? Violations create a high risk for the lender. If major violations are present, the entire loan could be found invalid and unenforceable. However, keep in mind that the violations must be egregious for the courts to allow complete debt forgiveness and make no mistake, the lender will challenge any such possibility. However, if there are significant violations uncovered by your personal audit, you would be in a very good bargaining position to renegotiate the entire loan. 

Interested in knowing if your loan documents are legally binding? If you or your clients feel you were taken advantage of as a consumer, or were a victim of predatory lending practices (which may involve fraud or deception related to the disclosure of interest rates, finance charges (APR), prepayment penalties, or outrageous fees), then you could benefit from a Forensic Loan Audit.

What is the cost of a complete, personalized Forensic Loan Audit? The Audit is free!
 After the Audit is completed and you have an understanding of where you are positioned with your lender, you can then proceed with our Attorneys and let them do the negotiating for you. The fee will easily pay for itself for those that use it to obtain better loan terms. For example, if you could lower your interest rate by 4% by using your Forensic Loan Audit, and you have a $150,000 mortgage, you will save $6,000 in the first year alone, and tens of thousands of dollars more over the life of the loan!

How long does it take to complete the audit? That depends on the availability of the loan documents. If you are able to have your original loan documents readily available, the process can begin immediately. If you have misplaced your loan documents then we will request them from your lender. By law, your Lender has several weeks to respond to this request. We suggest that you keep control of the speed of the audit process. If you provide the documents, you can have your audit completed in a little as a week’s time. 

How do I order my Loan Audit? Click below to begin your free forensic loan audit now!