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Forensic Audit - Definition:Application of accounting methods to the tracking and collection of evidence usually for investigation and prosecution of criminal acts such as embezzlement and fraud. Can also be referred to as Forensic Accounting.
Scope of Audit - Auditing mortgage file for compliance including regulatory requirements related to:
* Truth and Lending
* Predatory Lending
* Higher rate, higher risk and subprime
* Loan to value (LTV) requirements
* Debt to income (DTI) requirements
We provide real and effective options and solutions to consumers who have been victimized by Unfair and Deceptive Predatory Mortgage Lending practices. If you believe that you may be a victim of predatory lending, our Comprehensive Investigation will arm you with the proof necessary in order to turn the tables on your predatory lender. We are not looking to simply provide a temporary fix to your situation. Our goal is to efficiently determine whether your rights have been violated in the mortgage process and provide a catalyst for relief.
Our team of auditors will review your closing documents and statements in detail to find errors, miscalculations, discrepancies and violations of federal and state consumer protection statutes such as The Truth-in-Lending Act (TILA), The Real Estate Settlement and Procedures Act (RESPA), The Equal Credit Opportunity Act (ECOA), The Home Owner Equity Protection Act (HOEPA), The Fair Housing Act (FHA) & Unfair and Deceptive Acts and Practices (UDAP).
We also identify fraud, misrepresentation, unfair and deceptive acts, breach of contract, unscrupulous practices and claims under other theories of law. These laws were enacted specifically to prevent lenders and their associates from taking advantage of consumers or misleading them as to the actual cost of credit.
Once due diligence investigation is completed we also provide options and remedies, including but not limited to helping you proceeed with a court action against the lender. Our main focus in the settlement process is to protect your most valuable asset, your home. We also focus on keeping you, the consumer, in your home through a more favorable and sustainable loan.
Some of the possible results of our investigation and fruitful negotiations may lead to:
* Recouping overcharges with back interest
* Compensation based on the violations uncovered
* Correction of your loan to a prime fixed rate based on income prior to the loan
* Correction of your loan through Principal Reduction
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