What is Forensic Mortgage Loan Audit
A Mortgage Forensic Audit or Forensic Loan Audit is to determine if any STATE or FEDERAL laws were violated during the origination and/or servicing of your Mortgage. Your mortgage and loan documents should be scrutinized for:
- PREDATORY LENDING PRACTICES OR DECEPTIVE LENDING PRACTICES
- Violations under STATE and FEDERAL LAWS including RESPA, TILA or HOEPA
- CONSUMER PROTECTION LAW violations including UNFAIR, ABUSIVE or FRAUDULENT business practices:
- Violations relating to how your fees and/or interest was calculated
When any violations are found in your loan documents you may use these violations as legal leverage to either:
- Sue your Lender in Federal Court for damages
- Negotiate A More Affordable Mortgage Payment
While performing a forensic loan audit, or mortgage forensic audit, Saud will review your mortgage loan documents for compliance with over 100 federal and state mortgage lending laws, including regulatory requirements related to:
- Mortgage Electronic Registration System (MERS)
- Truth in Lending Act (TILA)
- Home ownership and equity protection act (HOEPA)
- Real Estate Settlement and Procedures Act (RESPA)
- Home Mortgage Disclosure Act (HMDA)
- Fair Housing Act (FHA)
- Equal Credit Opportunity Act (ECOA)
- State and Federal Predatory Lending Laws; Lender Fraud
- Usury
- Prohibited fees
- Fee limits and 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
- Payment and other term limitations
- Escrow and impound restrictions
- Critical aspects of the eligibility requirements of the Home Affordable Modification Program
Saud A.H. Khokhar
REALTOR®, BPOR – Broker Price Opinion Resources Specialist, CIPS® – Certified International Property Specialist, e-PRO® – Electronic Marketing Specialist, SFR® – Short Sale and Foreclosure Resources Specialist, SRES® – Senior Real Estate Specialist, International Business and Financial Consultant, Professional Paralegal, Licensed Real Estate Broker, Licensed Mortgage Broker – New York State Department of Financial Services – Third Party Loan Providers (NMLS # 140381) (Mortgage Loan Officer NMLS #148213), Licensed Insurance Broker & Life and Health Agent (New York & New Jersey).
Brooklyn, New York 11230
Telephone: (718) 768-1474
Fax: (347)770-8919
Toll Free for Mortgage Loans: (800) 852-2820
SK@SaudKhokhar.com