As you are aware foreclosure defense can be a challenging task; however foreclosure defense when assisting the homeowner if done properly will benefit not only the homeowner but the investor as well. Loan modifications with principles reductions are better for Investors and borrowers but few have been conducted. Loan modifications which prevent foreclosure provide the greatest proceeds to the investor even if they occasionally do not work and foreclosures result. In an environment with high default rates such as that of today, the cost savings of successful loan modifications are greater than the higher cost of failed loan modification with ultimately result in foreclosure. Foreclosures can be avoided through reduction in principles which will allow borrowers with negative equity to refinance.
It has been our experience with our establish clients that our audit is different than the standard simple compliant software audit. It has been noted that many people are trying to simulate an audit thru the use of purchased software. I’m sure you are aware anyone can go through the motions of plugging in certain figures and dates to determine if a loan is compliant; however we dig deeper utilizing our detailed knowledge of lending and then offer that expertise to you for a powerful one-two punch to benefit the consumer. As a consumer advocacy type practice I know that your firm goes above and beyond with detailed knowledge of legal issues and requirements.
Within our detailed report not only will we provide you with a complete compliance review, we also review factors such as affordability of the underlying loan, Predatory Abuses of the loan provided, Deceptive Practices utilized by the lender and Collateral analysis. Our review also provides additional items for your discovery if applicable. Our understanding of the true lender and the realities of modern money mechanics will compliment your already aggressive legal tactics. Of course our original work product is protected and able to accurately relay other issues that you will need to have knowledge of, such as consumer fraud.
At Professional Mortgage Audit our intention is not to replace legal counsel, but to supplement your services with our specialized examination consisting of a complete compliance review. Our in-depth examination will provide a valuable tool that will enhance your defense. A professional loan audit will examine all of the complex clauses and disclosures contained in the original mortgage loan. You’ll be provided with a detailed report identifying any errors or violations, which can then be used as leverage when contesting foreclosure or initiating a loan modification or a short sale. Contact us at www.pmaudits.com
Monday, October 26, 2009
Monday, September 28, 2009
FAQ'S FROM PROFESSIONAL MORTGAGE AUDIT
Why should I use Professional Mortgage Audit?
At Professional Mortgage Audit our teams of experienced examiners are equipped to perform a thorough examination of all documentation related to your mortgage loan. Understanding the Truth in Lending Act ("TILA"), as amended by the Home Ownership & Equity Protection Act ("HOEPA") and Federal Reserve Board Regulation Z, we are trained to recognize aggressive lending practices and predatory transactions. A thorough audit will provide alternatives and solutions to assist with a loan modification or foreclosure defense. A professional audit is a critical part of understanding a borrower's options for the positioning of an appropriate loan work out.
Reasons Why You Need a Loan Audit?
When faced with a mortgage crisis or representing a consumer battling foreclosure, the most important thing you can do is to protect yourself with a loan audit. A professional loan audit will examine all of the complex clauses and disclosures contained in the original mortgage loan. You’ll be provided with a detailed report identifying any errors or violations, which can then be used as leverage when contesting foreclosure or initiating a loan modification.
How can a proper loan audit assist you?
Obtain optimum rates and terms for a modified loanDispute claims of default or negligence filed by the lenderIdentify what specific laws were broken by the lender during the filing of the mortgagePotentially claim interest paid toward the violating loanFormulate a well-planned, effective defense against foreclosure motions
Will an audit support my defense?
Forensic audits are important to gain the attention of the loss mitigation departments of major lenders and servicers. The Audit demonstrates that the borrower is being represented by a competent professional, who negotiates promptly to seek a positive resolution for all parties involved.
How can an Audit help me if I’m facing Foreclosure?
When facing a foreclosure the purpose of an audit is a way to leverage negotiations with the lender and servicer. Audits will uncover violations of federal and state consumer protection laws relating to mortgage lending. This may enable the borrower to rescind (cancel) the loan, serve to deter a foreclosure, or may entitle the borrower to refunds or monetary damages. However; many borrwers can not prove hardship, have no equity in their homes and do not have sufficient income to support a loan modification. A forensic loan audit is the only means of preventing foreclosure proceedings and convincing the lender to agree to new loan terms.
I am an Attorney why do I need an Audit?
At Professional Mortgage Audit, we’re not here to replace your legal counsel—it’s our goal to work hand-in-hand with attorneys to help avoid foreclosure and achieve a fair loan modification for their clients. With our in-depth loan audit report you will be equipped to present a solid defense against wrongful foreclosure attempts.
How do I contact Professional Mortgage Audit?
Complete the form on the contact us page and one of our audit specialist will contact you.
Tel: 877-877-0922 E: info@pmaudits.com Wesite: http://www.pmaudits.com
At Professional Mortgage Audit our teams of experienced examiners are equipped to perform a thorough examination of all documentation related to your mortgage loan. Understanding the Truth in Lending Act ("TILA"), as amended by the Home Ownership & Equity Protection Act ("HOEPA") and Federal Reserve Board Regulation Z, we are trained to recognize aggressive lending practices and predatory transactions. A thorough audit will provide alternatives and solutions to assist with a loan modification or foreclosure defense. A professional audit is a critical part of understanding a borrower's options for the positioning of an appropriate loan work out.
Reasons Why You Need a Loan Audit?
When faced with a mortgage crisis or representing a consumer battling foreclosure, the most important thing you can do is to protect yourself with a loan audit. A professional loan audit will examine all of the complex clauses and disclosures contained in the original mortgage loan. You’ll be provided with a detailed report identifying any errors or violations, which can then be used as leverage when contesting foreclosure or initiating a loan modification.
How can a proper loan audit assist you?
Obtain optimum rates and terms for a modified loanDispute claims of default or negligence filed by the lenderIdentify what specific laws were broken by the lender during the filing of the mortgagePotentially claim interest paid toward the violating loanFormulate a well-planned, effective defense against foreclosure motions
Will an audit support my defense?
Forensic audits are important to gain the attention of the loss mitigation departments of major lenders and servicers. The Audit demonstrates that the borrower is being represented by a competent professional, who negotiates promptly to seek a positive resolution for all parties involved.
How can an Audit help me if I’m facing Foreclosure?
When facing a foreclosure the purpose of an audit is a way to leverage negotiations with the lender and servicer. Audits will uncover violations of federal and state consumer protection laws relating to mortgage lending. This may enable the borrower to rescind (cancel) the loan, serve to deter a foreclosure, or may entitle the borrower to refunds or monetary damages. However; many borrwers can not prove hardship, have no equity in their homes and do not have sufficient income to support a loan modification. A forensic loan audit is the only means of preventing foreclosure proceedings and convincing the lender to agree to new loan terms.
I am an Attorney why do I need an Audit?
At Professional Mortgage Audit, we’re not here to replace your legal counsel—it’s our goal to work hand-in-hand with attorneys to help avoid foreclosure and achieve a fair loan modification for their clients. With our in-depth loan audit report you will be equipped to present a solid defense against wrongful foreclosure attempts.
How do I contact Professional Mortgage Audit?
Complete the form on the contact us page and one of our audit specialist will contact you.
Tel: 877-877-0922 E: info@pmaudits.com Wesite: http://www.pmaudits.com
Thursday, September 24, 2009
Attorneys That Understand Foreclosure Defense
Law Firms
At Professional Mortgage Audit, we’re not here to replace your legal counsel—it’s our goal to work hand-in-hand with your attorney to help you avoid foreclosure and achieve a fair loan modification. With our in-depth loan audit report your attorney will be equipped to present a solid defense against wrongful foreclosure attempts.With foreclosure rates at an all-time high, more than 2.3 million American homeowners had their properties reclaimed by lenders in 2008. More and more consumers are seeking the services of real estate attorneys to help them fight wrongful foreclosure attempts and obtain beneficial loan modifications.When representing a client who is facing a potential foreclosure your most effective tool is an in-depth audit of the original loan. With a professional audit you will be more likely to achieve a desirable outcome in favor of your client.
Why Hire a Third-Party Loan Auditor?
Inspecting mortgage documentation requires a great deal of time and expertise. With an average of 15 years of experience in the legal and financial industries, our analysts complete each audit with efficiency and diligence, saving you countless hours of valuable time that could be spent on revenue-generating activities. Our services are affordable, reliable, and—most importantly—the results stand up in court.
Our Process
For each audit, we’ll begin by conducting in-depth interviews with the originating mortgage loan officer, the loan processor, any account executives assigned to the loan, and the real estate agent or developer. From there, we’ll analyze all transactions, paperwork, and communications, exposing any potential errors, ambiguities, miscalculations, or blatant legal violations.
It is important to make sure the attorney has an accurate file from the borrower. A forensic loan audit from Professional Mortgage Audit will disclose any violations made in the origination of the loan.
Forensic Audit Review
It is important to make sure the attorney has an accurate file from the borrower. A forensic loan audit from Professional Mortgage Audit will disclose any violations made in the origination of the loan regarding federal and state mortgage lending laws, including regulatory requirements to:
Truth In Lending
HOEPA (Section 32)
Predatory lending
Usury
Prohibited fees
Fees limits or other restrictions
Higher-rate, higher-risk, higher-priced, subprime, nonprime, and rate spread laws
Prepayment penalty enforceability
Late fees and grace periods
Interest calculation and accrual requirements
Debt-to-income requirements
Loan-to-value requirements
Negative amortization prohibitions
Balloon payment prohibitions
Payment and other term limitations
Escrow and impound restrictions
Critical aspects of the eligibility requirements of the Home Affordable Modification Program
At Professional Mortgage Audit, we’re not here to replace your legal counsel—it’s our goal to work hand-in-hand with your attorney to help you avoid foreclosure and achieve a fair loan modification. With our in-depth loan audit report your attorney will be equipped to present a solid defense against wrongful foreclosure attempts.With foreclosure rates at an all-time high, more than 2.3 million American homeowners had their properties reclaimed by lenders in 2008. More and more consumers are seeking the services of real estate attorneys to help them fight wrongful foreclosure attempts and obtain beneficial loan modifications.When representing a client who is facing a potential foreclosure your most effective tool is an in-depth audit of the original loan. With a professional audit you will be more likely to achieve a desirable outcome in favor of your client.
Why Hire a Third-Party Loan Auditor?
Inspecting mortgage documentation requires a great deal of time and expertise. With an average of 15 years of experience in the legal and financial industries, our analysts complete each audit with efficiency and diligence, saving you countless hours of valuable time that could be spent on revenue-generating activities. Our services are affordable, reliable, and—most importantly—the results stand up in court.
Our Process
For each audit, we’ll begin by conducting in-depth interviews with the originating mortgage loan officer, the loan processor, any account executives assigned to the loan, and the real estate agent or developer. From there, we’ll analyze all transactions, paperwork, and communications, exposing any potential errors, ambiguities, miscalculations, or blatant legal violations.
It is important to make sure the attorney has an accurate file from the borrower. A forensic loan audit from Professional Mortgage Audit will disclose any violations made in the origination of the loan.
Forensic Audit Review
It is important to make sure the attorney has an accurate file from the borrower. A forensic loan audit from Professional Mortgage Audit will disclose any violations made in the origination of the loan regarding federal and state mortgage lending laws, including regulatory requirements to:
Truth In Lending
HOEPA (Section 32)
Predatory lending
Usury
Prohibited fees
Fees limits or other restrictions
Higher-rate, higher-risk, higher-priced, subprime, nonprime, and rate spread laws
Prepayment penalty enforceability
Late fees and grace periods
Interest calculation and accrual requirements
Debt-to-income requirements
Loan-to-value requirements
Negative amortization prohibitions
Balloon payment prohibitions
Payment and other term limitations
Escrow and impound restrictions
Critical aspects of the eligibility requirements of the Home Affordable Modification Program
Tuesday, September 22, 2009
A Forensic Loan Audit Evaluation might be just what you need
How do you view it?
Whether you view it as Forensic law, Forensic Law Audit, Forensic Loan Audit Evaluation, Forensic Loan Evaluation, Housing Attorney, Housing Lawyer it is apparent the necessary tool to a successful modification or forclosure defense is a Forensic Audit.
Why?
A Forensic Audit will enhance the possibilities of achieving the ultimate goal when defending a client/consumer/homeowner with a favorable outcome (a make sense modification!)
Our Service:
We at Professional Mortgage Audit are a forensic audit company prepared to complete a full compliant audit to assist Homeowners, Attorney's, and Modification companies represented by legal counsel.
Please visit our website at www.professionalmortgageaudit.com
or call us at 877-877-0922.
Whether you view it as Forensic law, Forensic Law Audit, Forensic Loan Audit Evaluation, Forensic Loan Evaluation, Housing Attorney, Housing Lawyer it is apparent the necessary tool to a successful modification or forclosure defense is a Forensic Audit.
Why?
A Forensic Audit will enhance the possibilities of achieving the ultimate goal when defending a client/consumer/homeowner with a favorable outcome (a make sense modification!)
Our Service:
We at Professional Mortgage Audit are a forensic audit company prepared to complete a full compliant audit to assist Homeowners, Attorney's, and Modification companies represented by legal counsel.
Please visit our website at www.professionalmortgageaudit.com
or call us at 877-877-0922.
Tuesday, September 15, 2009
The Benefits of Using Professional Mortgage Audit
The Benefits of Using Professional Mortgage Audit
•When negotiating with the lender or fighting foreclosure, using an audit within your defense can dramatically increase the likelihood of achieving superior results for the Homeowner.
•Do you know the context of table-funded loans, assignments, pooling and securitization. If researched this can be added to the defense however; in many cases mitigators may have serious flaws in their advise and strategies of defense due to lack of knowledge regarding this subject.
•The start of every case should be the collection of facts and documents, so that a complete mortgage evaluation and status report (audit) prepared by an independent third party for the use of the defense of a homeowner.
•The current “cottage industry” of TILA audits can be insufficient but if an audit is compliant and factual it can be a necessary part of the entire package to properly advise a homeowner, this can assist the attorney with the validity of claims to be made both defensively and offensively.
•The objective is to get the case in position where it can be settled without litigation. This is not always possible, but there are a number of transactions in which the Trustee, the mortgage broker, the appraiser, the escrow agent, the title agent, and the “lender” are put on notice that there is a damage claim that might apply against them and that might be covered by errors and omissions insurance policies or other insurance.
•When negotiating with the lender or fighting foreclosure, using an audit within your defense can dramatically increase the likelihood of achieving superior results for the Homeowner.
•Do you know the context of table-funded loans, assignments, pooling and securitization. If researched this can be added to the defense however; in many cases mitigators may have serious flaws in their advise and strategies of defense due to lack of knowledge regarding this subject.
•The start of every case should be the collection of facts and documents, so that a complete mortgage evaluation and status report (audit) prepared by an independent third party for the use of the defense of a homeowner.
•The current “cottage industry” of TILA audits can be insufficient but if an audit is compliant and factual it can be a necessary part of the entire package to properly advise a homeowner, this can assist the attorney with the validity of claims to be made both defensively and offensively.
•The objective is to get the case in position where it can be settled without litigation. This is not always possible, but there are a number of transactions in which the Trustee, the mortgage broker, the appraiser, the escrow agent, the title agent, and the “lender” are put on notice that there is a damage claim that might apply against them and that might be covered by errors and omissions insurance policies or other insurance.
Tuesday, July 21, 2009
Attorneys That Understand Foreclosure Defense
At Professional Mortgage Audit, we’re not here to replace your legal counsel—it’s our goal to work hand-in-hand with your attorney to help you avoid foreclosure and achieve a fair loan modification. With our in-depth loan audit report your attorney will be equipped to present a solid defense against wrongful foreclosure attempts.With foreclosure rates at an all-time high, more than 2.3 million American homeowners had their properties reclaimed by lenders in 2008. More and more consumers are seeking the services of real estate attorneys to help them fight wrongful foreclosure attempts and obtain beneficial loan modifications.When representing a client who is facing a potential foreclosure your most effective tool is an in-depth audit of the original loan. With a professional audit you will be more likely to achieve a desirable outcome in favor of your client.
Why Hire a Third-Party Loan Auditor?
Inspecting mortgage documentation requires a great deal of time and expertise. With an average of 15 years of experience in the legal and financial industries, our analysts complete each audit with efficiency and diligence, saving you countless hours of valuable time that could be spent on revenue-generating activities. Our services are affordable, reliable, and—most importantly—the results stand up in court.
Our Process
For each audit, we’ll begin by conducting in-depth interviews with the originating mortgage loan officer, the loan processor, any account executives assigned to the loan, and the real estate agent or developer. From there, we’ll analyze all transactions, paperwork, and communications, exposing any potential errors, ambiguities, miscalculations, or blatant legal violations.
It is important to make sure the attorney has an accurate file from the borrower. A forensic loan audit from Professional Mortgage Audit will disclose any violations made in the origination of the loan.
Why Hire a Third-Party Loan Auditor?
Inspecting mortgage documentation requires a great deal of time and expertise. With an average of 15 years of experience in the legal and financial industries, our analysts complete each audit with efficiency and diligence, saving you countless hours of valuable time that could be spent on revenue-generating activities. Our services are affordable, reliable, and—most importantly—the results stand up in court.
Our Process
For each audit, we’ll begin by conducting in-depth interviews with the originating mortgage loan officer, the loan processor, any account executives assigned to the loan, and the real estate agent or developer. From there, we’ll analyze all transactions, paperwork, and communications, exposing any potential errors, ambiguities, miscalculations, or blatant legal violations.
It is important to make sure the attorney has an accurate file from the borrower. A forensic loan audit from Professional Mortgage Audit will disclose any violations made in the origination of the loan.
Why Should I use Professional Mortgage Audit?
http://www.pmaudits.com/about.html
At Professional Mortgage Audit our teams of experienced examiners are equipped to perform a thorough examination of all documentation related to your mortgage loan. Understanding the Truth in Lending Act ("TILA"), as amended by the Home Ownership & Equity Protection Act ("HOEPA") and Federal Reserve Board Regulation Z, we are trained to recognize aggressive lending practices and predatory transactions. A thorough audit will provide alternatives and solutions to assist with a loan modification or foreclosure defense. A professional audit is a critical part of understanding a borrower's options for the positioning of an appropriate loan work out.
At Professional Mortgage Audit our teams of experienced examiners are equipped to perform a thorough examination of all documentation related to your mortgage loan. Understanding the Truth in Lending Act ("TILA"), as amended by the Home Ownership & Equity Protection Act ("HOEPA") and Federal Reserve Board Regulation Z, we are trained to recognize aggressive lending practices and predatory transactions. A thorough audit will provide alternatives and solutions to assist with a loan modification or foreclosure defense. A professional audit is a critical part of understanding a borrower's options for the positioning of an appropriate loan work out.
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