Make Your Side Stronger Before The Lenders With Forensic Audit Mortgage

There is a line of people who would strongly oppose to the idea of a mortgage audit. As for few, spending money on the auditor’s report of mortgage is a repelling idea and they might even suggest the same to others. However, what about someone who is on the verge of a foreclosure of his or her mortgage and never consulted legal help before signing the mortgage loan. For someone a naïve at such deals, the forensic audit can be proved a boon.

A Forensic Mortgage Audit is an extensive research and review of all the documentations pertaining to the loan that includes legal documents, transaction details and other attestations related to the real estate loan. A thorough forensic mortgage audit can point out any violations of the law made by the mortgage company, the broker, or any parties involved in the deal.

An experienced Forensic audit team, conducts the audit on all the documents made on the mortgage from the time the loan was applied and also a strict check on any emails, paper-work, faxes sent to you to make sure they were in accordance with the laws at the time the mortgage was signed.

While preparing the paperwork for a loan, a lender must abide by the laws and fulfill the legal requirements. Loan violations come under serious criminal offence and there are stringent laws against it. If any violation of law appears in the auditor’s report, they may be in for a big trouble and may have to face heavy consequences.

The financial institutions understand that a small miss in the legal documents can lead to serious consequences and they may have to pay hefty compensation for such misses, which is not acceptable for them. Thus, if any loophole surfaces, their best interest would be in an out of court settlement to avoid the charges levied on them and the financial setback. These loopholes or amiss are difficult to trace by a nonprofessional, but if scanned with the professional help or a forensic mortgage audit, these are easy to find out.

An auditors report can serve as a powerful tool when negotiating with the lender. If you want the lenders to agree to your terms, you are willing to modify the loan, the repayment structure or modifications in the error of documents, it is best to have an audit report by your side that will encourage your lender to talk to you.

Mortgage Analysis Online : Helping You Help Your Clients

News has been covering the uncovering of frauds more frequently than ever before in the past. You must be wondering if the financial world has gone to the dogs. The truth is that there are always some people in the systems that are looking for a short-cut to gain more money by bypassing the rules.

That is where Auditors and Forensic Analysts come into the picture. They are the good guys unearthing frauds and scams in the business world. Certified Fraud Examiners are professionals trained to gain an understanding of how and why frauds occur. They are experts in multiple disciplines like complex financial transactions and the associated laws and methodologies.

Predatory lending practices have led to a nationwide red alert. As is clear from the term itself, the lender literally hunts down a potential victim and feed on the financial gains at the cost of the borrower. Lenders that practice it, generally entice and even assist an unsuspecting borrower into taking a mortgage that will eventually, say in a year or two, make the latter go bankrupt.

Loan frauds are common in which the lender fabricates as well as conceals important terms of the mortgage. The lender at times verbally quote the borrower a lower rate of interest whereas on paper it might be much higher, many go even further and get blank papers signed by the borrower which they use to fabricate false information later. They can even get the borrower to lie about their earnings on papers which works against the borrower later, inviting higher rate of interests. It can be nothing short of a hellish nightmare for a borrower to watch himself/herself getting trapped in the quicksand of a predatory lending scheme.

Due to such practices, the role of Forensic Analysts is very important. They can help identify if a loan has malevolence hiding somewhere for the borrower. Errors and omissions may not be deliberate but even these are better off being spotted and corrected at the right time.

Mortgage Audits Online (MAO) provides auditing services to certified businesses. The well experienced Certified Forensic Analysts in our panel carry out exhaustive analysis using the modern tools to help you uncover errors and miscalculations in your loan(s). MAO also carries out Securitization Analysis and prepares Voluntary Lien Report for properties. All these services can help your clients with foreclosure defense, principal amount reduction and also fraud defense.

At MAO our experts use specialized software to provide analyses as per your client’s need at the most competitive price. All this has helped us become the fastest growing mortgage analysis company in the US.