Millions of loans every year flooded the system.
Underwriters were under pressure to close as many files as possible.
Loan Officers wanted to close as many as quickly as possible, Borrowers wanted things done as quickly as possible.
The pressure was on and everyone wanted to "get er' done" now.
All the while, new laws were being implemented changing calculations.
This was the perfect storm for mistakes to be made.
- Calculations are wrong
- Payment schedules are off
- Critical documents are LOST
- Margins and indexes are incorrect
- High cost limits are exceeded in many cases
- Net tangible benefits are not calculated properly.
We're not saying that anyone in the transaction was doing anything improper, but something "sloppy" perhaps or maybe that lender has a different interpretation of the correct way to calculate things.
PLUS, many were changing operating systems at the time and going automated.
Many of the "automated" systems were standardized. Unfortunately, high cost in one city, county, state is not the same in another.
Did you know that? I didn't know this at the time either.
Further, on the uglier side of things, there were over inflated values, predatory lending, and out and out fraud happening.
Our Forensic Audit review is not simply an APR calculation like some try to pass of as an audit.
Our audits go DEEP.
Come learn the power of the Forensic Audit.
- Gain Leverage in a Loan Modification
- Go on the OFFENSE with your lender
- Protect your clients from foreclosure.
You can sell a forensic audit with NO COMPLIANCE ISSUES.
AUDITS ARE O.K. IN ALL 50 STATES!!!
Why sell a loan modification and risk issues with your state?
Earn $$ referring your clients for a FORENSIC AUDIT REVIEW!!!
Register today!
Title: Is Your Loan Illegal?
Date: Tuesday, January 19, 2010
Time: 3:00 PM - 4:00 PM CST
Contact Me To Find Out How You Can Earn Even More!
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