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A forensic loan audit is a process that breaks down and analyzes a set of loan documents to determine if all parties completed proper procedures and complied with regulations during the origination of the loan.
Truth in Lending Act
Real Estate and Settlement Procedures Act
Home Ownership and Equity Protection Act
State Unfair & Deceptive Practices Act
State & Federal Anti-Discrimination Laws
Various Predatory Loan Indicators
Breach of Contract
Fraud
State & Federal Fair Debt Collection Practices
The federal statutes determine which federal requirements need to be met by the lender in issuing the loan. These include mandatory disclosures, how and when such disclosures are made, limits on annual percentage rate, and a number of other requirements.
Forensic loan audits also analyze a loan to determine if it meets state and local requirements. Every state has some form of lending regulation. Some states choose to implement statutes that have language almost identical to that of the federal statutes, while others go well beyond the federal statutes and put even more restrictions on the lending industry.

We review all of your loan documents (the papers you signed when you originally applied for the loan and the papers you signed when you closed the loan).
We review your loan documents (the papers you signed when you applied for the loan and the papers you signed when you closed the loan). We investigate whether the information and calculations provided in those documents was accurate, truthful, and met the requirements of the applicable federal and state statutes.
We look to what the lender, broker, and agent told you about the loan. We focus on whether the loan you were told you were getting was actually the loan you received.
As experienced mortgage auditors we can uncover Fraud, Miscalculations, Violations etc. quickly. Other violations are harder to find and require in depth examination of the loan documents. After determining if your loan documents indicate whether there is a case worth pursuing we can inform you what course of action to take. |