Forensic Mortgage Audit Secrets

by mlr@rrnllc.com on May 12, 2009

perspective_cover_shotYou don’t have to be told the truth.

The world is not going back to the way it was.  Millions of Lawyers, accountants and other professionals have been feeling the severity of the credit crunch.  Companies are downsizing and if you don’t pull in business, you don’t have a seat at the table.

We can thank the subprime crisis for this.

But…there’s light at the end of the tunnel.  There is a fix for you, and there is something that you can do to take advantage of the Fear, uncertainty and doubt in the marketplace.   [click to continue…]

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What is a Forensic Mortgage Loan Audits and Why Do One?

May 12, 2009

Now more than ever borrowers need leverage to negotiate with their mortgage holders, get their loan terms modified, or stop foreclosure in its tracks.  Conducting a forensic mortgage audit is the first step to obtaining that leverage.  Some loan auditing companies estimate that as many as 83% of mortgages have violations and, with respect to [...]

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Discount Fees Paid to Brokers May Provide Complete Defense to Foreclosure

May 12, 2009

At least one New Jersey lawyer has found a potential chink in the armor of foreclosing lenders.  If the borrower paid a discount fee to the mortgage broker at closing without getting a reduction in the interest rate, the mortgage may be invalid and can’t be foreclosed.  How is this possible you ask?
It looks like [...]

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More Subprime Borrowers in Trouble

May 12, 2009

Like most states, New Jersey is among those seeing record numbers of foreclosures, particularly in areas with high numbers of subprime loans, such as Newark.
From The Associated Press, April 3, 2009:
A real estate tracking service says the number of homes being repossessed in New Jersey jumped 53 percent to 1,294 dwellings during the first two [...]

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More Lawyers On the Street . . . Time to Take Control of Your Destiny

May 12, 2009

Even after making unprecedented lay offs of attorneys and staff in the first quarter of 2009 that put thousands of lawyers and staff on the street, first quarter earnings reports for the top 100 law firms in the U.S. show declines of up to 20.5% in profits and 10-12% per partner earnings.
From the Chicago Tribune, [...]

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Adjusting Client Expectations: The Myth of the Disappearing Mortgage

May 12, 2009

Clients want results.  Period.  They’ve gone online, read a few articles, and now “know” that all they have to do is find a little defect in their loan documents —  or, better yet, discover that their lender doesn’t have the original mortgage documents — and “poof” mortgage gone.  They own their home free and clear, [...]

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Business Booming for Lawyers in the Know

May 12, 2009

The ABA Law Journal reports what most of us already know:  Business is booming for those who help borrowers facing foreclosure.  There are thousands of homeowners in need and lawyers who know how to help them have the edge.  Many lawyers, however, don’t know enough about Truth in Lending, RESPA, and other laws governing mortgage [...]

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Remember: Check With Your State Laws

April 8, 2009

In most states, you’re 100% OK to do loan modifications, loan audits, etc.  There are licensing requirements in some states however, and you want to ensure that we know where you can and where you can’t open up a loan audit or modification practice.  The information on this site is geared to attorneys, and in [...]

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Foreclosure Prevention Schemes Not Working, Loan Audits Necessary

April 4, 2009

From the April 4, 2009 Washington Post

Mortgage lenders have boosted their foreclosure-prevention efforts, but homeowners nonetheless are increasingly falling into delinquency even after receiving help on their loans, according to a government report issued yesterday.
The report, by the Office of Thrift Supervision and the Office of the Comptroller of the Currency, which regulate mortgage lenders, [...]

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Coming Soon!

February 25, 2009

Our blog is coming soon, and you’ll find news and comment…

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