Defendants in alleged forensic audit mortgage scam. In exchange for an upfront fee of several hundred dollars, socalled forensic loan auditors, mortgage loan auditors, or foreclosure prevention auditors backed by. Dec 19, 2012 mortgage rescue scams are nothing new. The purpose of a forensic mortgage audit is to uncover any discrepancies on the loan, including violations of the federal truth in lending act. Global bridge holdings llc forensic mortgage audit. Apply to auditor, quality auditor, ambassador and more. These people have expertise in the rules and regulations governing mortgage loans and if a lender has failed to comply with federal or state laws governing mortgage loans, you might. Mortgage securitization for attorneys, quiet title services. By using mortgage audit software, one can uncover violations on homemortgage loans and create a report outlining. Forensic auditing is also known as forensic accounting. Forensic auditors ensure financial records are accurate and detect fraud in business environments. Auditing mortgage documents can stop a foreclosure in process. A forensic mortgage loan document audit is a comprehensive investigation of the documentation in homeowners existing loans.
Certified forensic loan auditors mortgage securitization analyst training certification class is a comprehensive 16hour online intensive seminar. Learn more about forensic auditing and what it takes to become a forensic auditor. We always wondered if these outfits were really helping homeowners. Dec 18, 2012 in her lawsuit against mortgage facs, madigan alleged the scam not only baited homeowners with the promise of discovering errors in their mortgage, but marketed its forensic mortgage loan audits as a way for consumers to obtain a loan modification to lower their monthly payments and even avoid foreclosure. Cfla brings accountability, trust, intelligence and integrity to all parties involved in the mortgage loan audit process. Mortgage securitization auditor training certification class. If you buy the chain of title foreclosure audit, the report will include information on how you can obtain the securitization trust directly from fannie mae, freddie mac, or ginnie mae if it was securitized. What certifications are available in forensic auditing. Students study and learn important topics related to mortgage securitization as well as complex analysis of how to obtain recorded documents. If you suspect there is potential mortgage fraud with the mortgage documents hire an attorney who specializes in mortgage fraud. With over 70% of mortgage loans currently in violation of laws pertainin to the lending laws of these loaning these loans out.
If there is something amiss in the mortgage, forensic auditors say. Robosigning is often discovered by the forensic document examiner. There is no statistical or other data that supports the claims that a forensic loan audit, even if performed by a licensed, legitimate and trained auditor, will help you modify your home loan or stop foreclosure in its tracks. Forensic mortgage audit, mortgage auditing software. Select a professional forensic accounting consultant to make sense of the numbers. The state of florida defines mortgage fraud in its. Accounting why and when a forensic accountant is needed. The forensic mortgage auditing process is a comprehensive investigation designed to identify infractions and violations committed by your lender during the approval and funding process of your mortgage loan. Forensic mortgage audit fraud stoppers stop foreclosure. California real estate fraud report forensic loan audit archives. Illinois attorney general madigan sues forensic loan audit.
Certified forensic loan auditors mortgage securitization analyst training. Sometimes its hard to tell the difference between legitimate companies and scam artists. Defendants in alleged forensic audit mortgage scam settle. Respa, tila, fdcpa, hoepa, escrow analysis, payments, appraisal analsis, etc. Forensic audit, securitization audit, mortgage securitization. A forensic audit is an examination and evaluation of a firms or individuals financial information for use as evidence in court. To file a complaint in english or spanish, visit the ftcs online complaint assistant or call 1877ftchelp 18773824357. Learn forensic auditing for home mortgages with our exclusive forensic loan audit software and guide package plus a suite of bonus products. The forensic auditor forensic accounting fraud prevention. Mortgage fraud often involves altered documents and signature forgery. National mortgage forensic loan auditors, mortgage violation audit experts, featured in press in recognition of being leading experts in the real estate loan and mortgage violation audit industry.
Loan auditors cfla is a comprehensive training certification program. We utilize special state and federal mortgage loan post compliance software to calculate and identify violations. Brown warns homeowners to avoid forensic loan audits state. Mortgage audits online has been helping our affiliates build strong cases for over 5 years with mortgage analysis services. This audit is your first step to potentially obtaining a successful, positive change in. The forensic accountant may investigate and analyze financial evidence. Mers currently banned in the state of california and under attack in at least 2 dozen other states is a cloak which the financial services industry is using to avoid paying the taxes, stamps and fees on each step of the securitization process, plus a way to obfuscate the real ownership and to essentially choose later who will be designated to. Estimates from numerous credible sources suggest that more than 85% of the mortgage loans written between 2004 and 2008 have some respa andor tila violations.
The forensic auditor has to study accounting evidence through integration of accounting, auditing and investigative skills. Sponsored by certified forensic loan auditors cfla is a comprehensive training certification program entitled. The sofware audits mortgage loans and uncovers violations instantly and supports the findings with laws quoted directly from tila and respa. A forensic accountant may analyze and interpret complex financial information. The mortgage securitization auditor training certification class. One of the scams perpetrated by forensic loan audit companies is that their forensic software claims to find. It is best to hire an attorney before you hire a document examiner. Mortgage audits online has been helping our affiliates build strong cases for over 4 years with our securitization and forensic audits.
Having said that, you will probably be able to find a wealth of information on these companies before throwing money at them. Illinois attorney general madigan sues forensic loan. Mortgage audit software is imperative to conducting forensic loan audits especially in the current real estate market. How to avoid the forensic audit for your mortgage scam. By using mortgage audit software, one can uncover violations on home mortgage loans and create a report outlining each violation with the supporting laws to support the findings. Beware of the latest foreclosure rescue scam forensic loan audits mortgage fraud examiners, the investigative firm who warned the public about loan modification scams, the criminal loan modification trap and the mortgage elimination scam is now warning the public of this latest scam. And it is important to note that many audits are done by people with no experience using various software programs. Mortgage securitization auditor training certification. Jun 08, 2014 the mortgage securitization auditor training certification class. National mortgage loan auditors featured as leading. If the audit reveals legal violations, you can theoretically then use the results to strongarm the lender into giving you a modification. There are people out there claiming to be forensic mortgage loan auditors.
Many companies trying to get into this new wave of service use a software that does the audit and is so bad that rarely will you get it admitted as evidence. In some cases, the forensic accountant may develop computerized applications or install software that can uncover traces of financial transactions. Free forensic loan auditor seminar livingliess weblog. The software uncovers violations of federal lending laws including tila, respa, reg. The software audits mortgage loans and uncovers violations instantly and supports the. You may also want to hire a mortgage fraud auditor who has extensive experience in the subject. Learn how to do forensic mortgage audits and get propriatary software. Mortgage overcharges uncovered by loantech audits loantech. Beware of the latest foreclosure rescue scam forensic. Securitization audit software tools package consists of professional tools, manuals, guides and more to give you an edge in the securitization audit services market.
Believing in the worth and dignity of each forensic loan auditor, recognizes the supreme importance of the pursuit of truth, devotion to excellence, and the nurture of the democratic principles. A good audit that can be used in court can take as many as 20 man hours to complete. Pensions, forensic accounting, accounting software bournemouth. Forensic auditors can receive certification as an internal auditor, a government auditing professional or a financial services auditor. A forensic auditor is a certified public accountant cpa who uses special techniques to detect or prevent certain types of crime for businesses and government agencies. Global bridge holdings llc forensic mortgage audit tampa. Lenders compliance group is a fullservice mortgage compliance organization, providing mortgage risk management, loan analytics, regulatory guidance and information to the mortgage banking industry. Mortgage securitization for attorneys, quiet title. The software audits mortgage loans and uncovers violations instantly and supports the findings with laws quoted directly from tila and res. Forensic auditing is a legitimate practice, but these companies will never contact you first and will rarely advertise on the internet. Watch out for the forensic audit for your mortgage scam, happening these days lets say you are in a terrible financial position and its a massive struggle for you to keep your home out of foreclosure. Forensic mortgage audit software and training youtube. The goal of the forensic loan audit is to determine whether there are identifiable defenses, claims, or violations of federal or state law which may be found in your mortgage loan documentation. Securitization audit, mortgage securitization, mortgage.
It involves application of accounting methods to the track and collect forensic evidence, usually for incriminating the perpetrator of fraud. For a complete price list and access to downloadable reports visit our services page working exclusively as a businesstobusiness service provider, mao is able to devote ourselves to providing mortgage audit program enabling our clients to achieve results. Forensic loan audit forensic loan software offers auditing for home mortgages with our forensic audit guide. Suppose you are a homeowner struggling to make your payments and stave off. Forensic mortgage auditor forensic loan audit software is an easy to use application that quickly performs forensic loan audits for all types of mortgages. When the mortgage crisis began, attorneys were quick to identify these violations. A forensic andor chain of title foreclosure audit can still be ordered.
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