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Here are brief descriptions of the various mortgage audits that are available from Loantech. Customized audits are also available. Please contact us for details.
Forensic Mortgage Audit
A Forensic Mortgage Audit (FMA), also called a Forensic Loan Audit, can be used as effective leverage by homeowners and attorneys when negotiating with a lender to fight foreclosure, obtain a short sale or get approval for a loan modification.
The FMA is a detailed examination and analysis of the loan documents and disclosures provided to the borrower on the day of closing and it uncovers violations of federal lending regulations including TILA, RESPA, Regulation Z, HOEPA and predatory lending. The Forensic Mortgage Audit will also uncover excessive lender fees and inaccurate calculations of the APR or finance charges that were paid by the borrower. In fact, a recent survey of a random sample of forensic audits recently performed by Loantech showed that upwards of one-half of the mortgages had such violations.
Price: $395. TO ORDER, CLICK HERE.
Mortgage Securitization Audit (MSA)
Most homeowners use a mortgage securitization audit to fight foreclosure or to help them obtain a reasonable loan modification from their lender. The MSA determines whether the lender or servicer actually own the mortgage note and determines if they have legal authority or legal standing to commence the foreclosure process against the homeowner. The MSA answers the question “Who Owns the Note?”
Designed for homeowners and attorneys, the MSA is a detailed analysis of numerous mortgage documents, trust and mortgage-backed securities that will identify the lawful owner of a specific mortgage. It is estimated that more than three out of every four mortgages originated from 2003 to 2008 were transferred into a trust or mortgage backed security. The MSA reviews the pooling and servicing agreement of a mortgage trust and reviews the chain of title starting with the most recent loan settlement Notarized signatures are also studied to uncover fraud, forgery, robo-signing and backdating of documents. Loantech’s audits have FBI experience in the area of mortgage fraud and also have access to fraud detection tool s available only to professional fraud examiners and the law enforcement community.
Mortgage Securitization Audit (PRO Version) Price: $695.
TO ORDER, CLICK HERE.
Mortgage Securitization Audit (PLUS Version) Price: $2,495.
TO ORDER, CLICK HERE.
Is your escrow or impound account correct? Government official estimate that two-thirds of all escrow accounts contain overcharges of $150 to $1,000! Since 1987, Loantech has uncovered escrow overcharges of $100 to over $6,000.
What kinds of errors occur and why do they occur? Escrow or impound accounts are required by lenders to pay future recurring expense such as real estate taxes and insurance premiums. Monthly payments are adjusted by the lender whenever property taxes or insurance premiums change. However, these escrow payment adjustments often result in overcharge to the homeowner in the form of higher monthly escrow payments or excess funds being held in the reserve or “cushion” account. These mistakes occur due to inexperienced personnel, incorrect escrow reviews and faulty software or incorrect review procedures.
The EscrowCheck audit uncovers any overcharges of monthly payments and/or in the level of funds being held in the reserve or “cushion” account.
Since 1987, Loantech has offered its copyrighted EscrowCheck™ service to homeowners. It’s an independent verification of the escrow account and provides peace of mind about the accuracy of the monthly escrow payments and level of funds held in reserve. The EscrowCheck™ audit will determine if you’ve been overcharged and you will receive Loantech’s copyrighted “Lender Refund Request Letter” to use for obtaining a full refund from the lender.
Cost: $395. TO ORDER, CLICK HERE.
ArmCheck™ Mortgage Audit
Is your mortgage payment and loan balance correct? Have you been overcharged?
If you have a fixed-rate or adjustable rate loan or you’ve made extra principal payments or just want a professional second opinion, you should order an ArmCheck™ audit today.
Loantech was the first in the nation to uncover overcharges in the calculation of mortgage rates and payments and since 1985 Loantech has performed thousands of mortgage audits for borrowers with its copyrighted ArmCheck™ mortgage audit service. These independent audits verify the accuracy of lender calculations for rates, payments, amortization and loan balance for fixed-rate or adjustable-rate loans. Thousands of borrowers have used this audit to “win their case” and get refunds ranging from $300 to over $38,000.
Adjustable rate mortgages (ARMs) involve changing index values and complex computer calculations that invite human and software errors. You probably accepted your lender’s figures at face value. However, the Wall Street Journal, MONEY, Forbes and Newsweek and other leading publications have been warning consumers that miscalculations occur in up to one-third of all such mortgages. You may have been overcharged if the lender selected wrong index value, rounded the figures incorrectly or improperly credited extra principal payments.
You should be especially concerned if your original lender sold the loan is now out of business, of the loan has a rider or addendum or if the balance just seems too high. Mistakes can also occur on fixed-rate loans if the lender incorrectly credited any extra principal payments.
Loantech will audit the loan and send you a report and you’ll know right away if you’ve been overcharged by the lender. You’ll also receive a copy of Loantech’s legally written “Lender Refund Letter” to send to the lender to obtain a refund for any overcharges.