The Most Comprehensive
And Accurate Forensic Loan AuditTM Available!
83% of Mortgages Have Violations.
Find Out How to Receive Recourse from
Your Lender!
U.S. Lender AuditTM is the National leading provider and the original pioneers of Forensic Loan AuditingSM services to Law Firms, Attorneys, Non Profit Organizations, Hedge Funds, and their clientele. As an attorney-owned company, U.S. Lender Audit services a team of expert auditors that have been conducting compliance audits for banks and underwriting institutions as neurtral examiners for purposes of requirements set forth by FDIC, HUD, other mortgage insurance and security related companies as a niche company for nearly a decade. There are specific reasons as to why most loans during the last decade are called "toxic". There are specific reasons why continued modification attempts show no signs of strength, and may have no benefit to you at all? This Mortgage Meltdown is deeply concerning because the the very originations of these loans lacked specific methods of contractual, accounting and procedural conduct that makes such attempts for repair, questionable at best. Findings that surfaced through FDIC reports and other hard to find reports, reveal the SERIOUSNESS of the problems that continued to purpetuate during the securitization era, mainly those mortgages originated between 2001-2008, until now where wrongful foreclosure attempts are happening throughout our nation. U.S. Lender Audit reverse engineered the dynamics of what used to be only available to large institutions, and made the playing level available to the people and their counsel.
Using traditional manual forensics and a new audit methodology to greater understand the very violations that many public filings later revealed. Thoroughly investigated by hand, U.S. Lender Audit's industry experts provide the most accurate and comprehensive Lender AuditTM available in today's market, capturing ALL violations made prior to or at closing, guaranteed. EVERY file is reviewed and examined at least twice, by at least two auditing experts, making accuracy and reporting unparalleled. Our application is NOT to be used or confused with today's legislative failed "loan modification" attempts. Like bloodwork exams to doctors, we provide highly sought after insight in a reported format that can help bring evidentry items to the table that may be used to challenge opposing parties or trigger more discovery to seek the real truth. Evidence vs. Perception! An amicable ability to bring a dispute that calls for resolution! How much is that worth?
GETTING STARTED IS EASY
The website is full of knowledge and we encourage yout to explore it, but know that a simple collection of your documents is all we need to complete your Examination. CLICK HERE to Get Started
Please, if you want to really better understand a better way to consider arming yourself during these concerning times, you owe it to yourself to read this ENITIRE page. Afterward, gather your loan documents and have us do the examination to provide you with the leverage you may need to better assist your journey to recourse!
WAIT! PROVE IT.
With 29 non-judicial foreclosure states, the only way to really have a real fair shot at discovery and due process (getting it to be litigated in court...a Judicial proceeding), is to consider bringing an original action, or making a "claim" to foul-play by presenting actual Federal or State violations reported by our experts! If you are in a judicial foreclosure proceeding state, real defenses and counter action is now available!
"Mortgage Securitization and Wall-Street" is more than complicated, and understanding the root of the issues will eventually show its face. For now, it is important to consider what your loan may reveal, and what you can do about it. ALL VIOLATIONS of Federal, State, County and Municipal Code are revealed along their severity and the specific code in violation. The result of our mortgage audit services is a detailed comprehensive analysis that reveals ALL RESPA, TILA, HOEPA, ECOA, GLB, FDCPA Violations and More in an easy-to-read format. All infractions of State Lending Fairness Guidelines and Predatory Lending laws are applied.
SEE a Sample U.S. Lender Audit! CLICK HERE!
Another U.S. Lender Audit Sample Forensic Audit CLICK HERE!
YOUR TURN FOR LEVERAGE
Our propriatary application and unique model started an industry trend and broadened Consumer Rights and Fraud Litigation. Providing an understanding of your rights through Legal Discovery/Questions through a Qualified Written Request and/or FDCPA Letter, and the Violations revealed in the U.S. Lender Audit, has helped provide clarity, while helping level the playing field.
Featured throughout the legal community and Bar Association and Preferred by Attorneys nationwide, the pioneering of what we started became a our trademarked product called the Forensic Loan AuditTM along with our expedite resolution and mediation quickly to resolve a real dispute. For the very first time, homeonwers, regardless of their financial or paymnet history and their attorneys can better understand the problems that are evident in the "mortgage". The forensic audit serves as neutral third party formal examination, to which Federal and State violations can be used to assist in helping bring a claim (in 29 non-judicial foreclosure proceeding states), counter-claim, or better affirmative defenses. And, if no SEVERE violations are found, we will issue a full refund, no questions asked! 100% money back guarantee What LIES in YOUR LoanTM ? CLICK HERE to Get Started
VALIDATE EVERYTHING! IT's YOUR RIGHT!
Horrible decisions were made and even pre-medidated, and accounting violations perpetuated. Increases in the volume of loan applications by subprime borrowers were associated with an increased rate of approval and lower loan quality. Explore your rights or you may lose them! Respa Section 6 through a "Qualified Written Request" and the Fair Debt Collection Practices Act (FDCPA) gives you the consumer the ability to inquire about your questionable loan and it requires immediate attention by the receiving party, or they can be cited for non-compliance both Federally and by State. A "Validation of Debt Letter" is your right to inquire about the very things that have happened during the course of such contractual agreement and the truth in "lending". Additionally, the Federal Credit Reporting Act (FCRA) is helpful to understand, as it can provide a level of credit protection during the course of inquiry/dispute using the right language and notices/demands. In what could be a continuous battle to cover-up unscrupulous violations...leverage that can be used to get relief in several ways.
A CONFUSED ECONOMY
Weather behind on payments or not, "bailout" programs prove misleading, "predatory" loan modifications not working, and national debt continues to purpetuate. There is a reason why. Did you already modify? Sign an indemnification clause unknowingly? Receive a foreclosure action? Are you concerened if your mortgage is even a valid obligation? Do you know if you really owe anything and to which party, and how so? Honorable people are faced with having to see/hear about new "programs" and "proposals" daily, leaving people in the dark as to what may be the best way to understand and fairly assess what your legal rights and claims really are. Why would servicers buy non-performing assets... unless they stood to have profited or benefited somehow! The principal source of financial instability lies in contradictory political and bureaucratic incentives that undermine the effectiveness of financial regulation and supervision around the world!
A recent CNBC cover story shows former Chairman of the Federal Reserve, Alan Greenspan, who admitted that he didn't understand the structure of the securities which were being offered by lending institutions, and it was too complex and did nothing to regulate it! Even during his reign he seemed to encourage, on national television, that the new subprime markets might benefit great mortgage alternatives from the fixed rate products! There were NO REGULATORY bodies probing for thorough examination, not the Government, the Fed, or the SEC....HMMM???. And, with an additional seal of aprproval through the Credit Agencies, companies like Moody's, Fitch, and Standard and Poors, could easily provide a 'AAA' stamp to just about anything. "There is so many ways to turn crap into AAA rating", admits Moody's Analyst.
Managers of financial institutions knew that reducing the transparency of their claims on the safety net by embedding outsized risk exposures in complicated off-balance-sheet instruments would benefit their shareholders. But they could collect and dividend out profits earned from regulatory arbitrage only as long as they could hide their increased leverage and resulting reputational risks from supervisors and creditors. In tolerating an ongoing decline in transparency, supervisors encouraged the very mispricing of risk whose long-overdue correction triggered the crisis. The correction punished three groups: investors who accepted more risk than they wanted, borrowers who overleveraged themselves, and taxpayers who will ultimately be roped into cleaning up the mess. NOW, DO YOU BELIEVE YOU WERE PART OF A SCHEME TO DEFRAUD? Consider the Audit and our support as your first step to understanding this very complex marketplace, in an easy to read formatted report outlining all of the violations just within your loan package! CLICK HERE to Get Started
WHAT DID YOU GET? WHAT DID THEY GET?
With an unfathomable rate of default on AAA instruments, the first run on a U.K. bank in 150 years, and an explicit extension of the U.S. safety net to cover a major insurance company, the entire investment banking industry, and two giant government-sponsored housing-finance enterprises (Fannie Mae and Freddie Mac). These events were followed by the demise of a number of commercial and investment banks, and a sharp worldwide plunge in equity stock prices that was especially pronounced for the financial sector. Do you really understand the AIG debacle, the Government "Bail-out" and what really happened? Do you really know the reason for TARP (Troubled Asset Relief Program)? Continued Transparancy? "Exempted" organizations? Did you really qualify for a mortgage...or really hand-picked and placed into a "synthetic" investement where you sold your credit and a list of your "real property/assets" to the Underwriting "Lender" and the other "excluded" organizations who by design created a program to which it would profit while it was betting against you and the thousands of others who were placed in a securitized pool / traunch before and after you originated your "loan"? In FACT, institutional buyers instituted INCENTIVES to rating agencies to award SEAL OF APPROVALS PAID BY THE SAME LENDERS WHO ISSUED THE LOANS...A TOTAL MISPRICING OF RISK! Pervasive Fraud in Financial Engineering! What you don't know is what is starting to unfold...but where is YOUR BAILOUT? Presenting factual evidentry items of Federal and State Violations and specific material questions/interrogatories (discovery) posed to the right parties can provide you the REAL LEVERAGE you need and the support to help level the playing field! CLICK HERE to Get Started
SUCURITIZED MORTGAGES AND TRUSTS: THE GREAT SHELL GAME
In securitization, your mortgage is likely part of a trust, that may not be still be in existance, could have been purposely depleted, may be limited amongst all the other mortgages to any modifications, or, your mortgage may be part of many trusts. A trust's limitations through it's "Pooling and Servicing Agreement" (Click Here for P.S.A. Sample), not being adhered to, may prove complete and utter fraudulant procedural tactics, contractual breaches and deceptive practices by institutions with no grounds or real damage to make claims,...the result...wrongful foreclosures are happening to parties throughout the nation that could have extended their rights by using real leverage and bringing factual evidence to fight their case.
Additional accounting and leverage profiting, creates more of a misunderstood and gross avoidance of what most will never want you to know. Addtionally, write downs, cross-collatorilzation, insurance coverages, and more aided and credited non-performing trust pools and covered other mortgages, helping the purported "lenders" or other parties of "interest" as "buyers" and "sellers" profit while they seek questionable "damages" from you and those you know. The root problem with securitization -- as with loan sales -- is that outsourcing the funding side of an originator's balance sheet undermines its incentives to monitor the quality of the loans it originates. Troubled loans become the property and problems of someone further down the transaction chain. Securitization was simply the latest innovation through which financial institutions could simultaneously collect fees from investors and arbitrage loopholes in bank regulation and supervision. By placing important tranches of risky loans through and with foreign and nonbank firms, large commercial and investment banks layered the institutional character and broadened the geographic span of their funding arrangements.
If you have the documents you received at closing and any other documents releative to the underwriting or servicing to the loan, we are here to help provide you / your attorney the analysis relative to Federal and State Violations depicted right from the documentation provided! CLICK HERE to Get Started
Another U.S. Lender Audit Sample Forensic Audit CLICK HERE!
DERIVITIVES
Using Derivitives purchased with American's money and leverage, the banks would stay ahead of the game! According to various distinguished sources including the Bank for International Settlements (BIS) in Basel, Switzerland -- the central bankers' bank -- the amount of outstanding derivatives worldwide as of December 2007 crossed USD 1.144 Quadrillion, ie, USD 1,144 Trillion. The main categories of the USD 1.144 Quadrillion derivatives market were the following:
1. Listed credit derivatives stood at USD 548 trillion;
2. The Over-The-Counter (OTC) derivatives stood in notional or face value at USD 596 trillion and included:
a. Interest Rate Derivatives at about USD 393+ trillion;
b. Credit Default Swaps at about USD 58+ trillion;
c. Foreign Exchange Derivatives at about USD 56+ trillion;
d. Commodity Derivatives at about USD 9 trillion;
e. Equity Linked Derivatives at about USD 8.5 trillion; and
f. Unallocated Derivatives at about USD 71+ trillion.
WHAT DISCLOSURES SHOULD REALLY HAVE BEEN CONSIDERED?
The law required that investors receive financial and other relevant information about securities offered for sale. It also prohibited misrepresentation and other fraud in the sale of securities. The government set up the framework to assure the free flow of information that would allow investors to make informed decisions, but didn't generate the data or pass judgment on it. The Obama Administration could undercut the environment created by this masterful piece of legislation by releasing the results of "stress tests" of the nation's 19 largest banks. Securitization allowed an equity investor, the big banks to place bets (Derivitives) against the very CDOs (Credit Default Obligations) they helped create and you were not disclosed in any way in the written documents about these deals you participated in but probably did not know. Not the marketing materials, not the prospectuses, not in the hundreds of pages that an investor could get to see information about the deal was it disclosed. CLICK HERE to Get Started
COLLATORALIZED DEBT OBLIGATIONS (CDOs) and CREDIT DEFUALT SWAPS (CDS)
It sure would be have been nice for your average homeowner to have that advantage!
To help lock in the profit, these same institutions collaborated to create Credit default swaps (CDSes), or insurance policies on various debt products -- everything from subprime mortgages to U.S. government debt. In such a matter, a seller agrees to compensate a buyer if debt goes into default. It's not too different from car insurance: two parties swap risk for a premium. And just like car insurance, it can be a great tool to efficiently spread risk to those who want it from those who can't handle it. Wow, a great trick, you put up your hard earned assetts and credit, and they use your promissory notes and deposits to create the funding to hedge themselves and create immense leverage to manipulate markets and to profit or benefit doing it!
See, in everyday life, you can't insure things you don't own. Thankfully, your neighbor can't take out homeowners insurance on your house. With credit default swaps, there are no such laws. Investors can take out infinite amounts of insurance on debt products they don't own. This seriously distorts the motives and incentives between buyers and sellers. CDSes often don't act as insurance, but a tool to manipulate stupidly large amounts of money and rip gaping holes in the financial system, a la AIG (NYSE: AIG).
The Wall Street Journal recently reported an almost comical example of this. It tells the story of a tiny Texas brokerage firm called Amherst Holdings which, likely along with other CDS underwriters, took a $27 million debt security and sold $130 million of credit default protection on it. Big banks like RBS (NYSE: RBS) JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC) bought these CDSes. The debt, when reviewed, was total garbage and almost certain to default, so the banks had no problem paying up for the insurance.
Now, think about this for a moment: Amherst, and likely other CDS counterparties, pocketed $130 million to insure $27 million worth of bonds. So what do you think Amherst did? Exploiting a small loophole, it used the proceeds to have the underlying bonds bought back at par, which instantly rendered the credit default swaps worthless.
Thanks to the ability to insure debt for multiple times its value, the notional size of the CDS market is more than $38 trillion, or nearly three times U.S. GDP. That's $126,000 for every man, woman, and child in America. This is quite literally a poker game multiple times the size of the entire economy. The Wall Street Journal CLICK HERE to Get Started
KNOW YOUR RIGHTS!
There are rights you have to legally help 1. Validate what they say you may owe and who is really the party of interest, not the servicing agent, necessarily 2. Understand the procedures that may have fraudulantly occured from problems designed before underwriting your "mortgage", to underwriting, to origination of the "loan", to the servicing and transers of the alleged "loans" 3. All the accounting and methodologies, including write downs, Generally accepted accounting pricipals, and weather funds were appropriately funded prior or during closing, and 4. The authenticity of what is being presented. Just like most media outlets, don't take things for face value. Evidence is everything and extending your rights for material facts and such discoveries is everpresent! Help us help others and know for yourself. CLICK HERE to Get Started
SEE a Sample U.S. Lender Audit! CLICK HERE!
Another U.S. Lender Audit Sample Forensic Audit CLICK HERE!
DEFINITIONS of the word "Audit":
A 2006, FDIC Office of Inspector General Report revealed: The Report can be found by Clicking Here for a reference. This along with continued failed efforts should be a consideration of why you may owe to yourself to get the real answers to valid questions/discovery.
*83% of the institutions examined were ceited for "significant" compliance violations
*43% of those institutions were "repeat offenders"
*85% of those repeat offenders were highly rated by the FDIC for their in-place compliance process
U.S. LENDER AUDIT AND OUR INSIGHT MAY YOUR FIRST STEP TOWARDS REAL RELIEF!
With loan modification failutres, from HOPE Now to HAMP and TARP failures, one must ask why these "programs" exist, and decide at what point do they examine their "mortgage", and how such Violations can be used for relief in several ways. Do you believe that your loan may have been predatory or fraudulant? Are you paying on a toxic mortgage? Either use your rights to determine true; 1. Accountability 2. Validation 3. Procedure 4. Authenticity, or lose them to programs that may not benefit you. Wrongful foreclosure actions and predatory "modification" and "stimulus" programs can be the worse cover-up in history. Now you are faced unfair deficiencies judgements and more, regardless of your payment history or "eligibility"! Weather facing foreclosure, ontime on payments, house for sale, or looking to settle, evidentry items are better than an oral argument. Assumptions vs. Fact.
The other importance of the mortgage audit findings is that it may be the grounds to help move a non-judicial foreclosure action (currently in 29 states), if necessary, into jurisdiction, which can STOP FORECLOSURE in its tracks. More importantly, borrowers regardless of financial hardship and payment history now have the chance for a better position to negotiate new terms or loan settlement. Violations found in a loan audit can help place the borrower in the offense! U.S. Lender Audit helps legal professionals navigate through the process with our learning channels, which we find critical for those legal advisors that are looking to make the audit solution part of their business practice. Information is only as good as the ones that know how best to use it. Let U.S. Lender Audit demonstrate our unparalelled litigation support for your firm today! Contact us now to get started with a private consultation or orientation from our team of specialists.
As an attorney you can help shorten the research cycle and get unparalleled litigation support with U.S. Lender Audit and our team of professionals. CLICK HERE to Get Started
RESPA 6: FEDERAL and STATE MANDATORY COMPLIANCE:
Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions or any such questions as to the possibility of fraud or validation of debt), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.
The Lender will have 20 business days per the Real Estate Settlement Procedures Act (RESPA) to respond to the written request and 60 business days to try and settle this matter. In the event the Lender does not act within the timeframe's listed above, you may file "Documented Mortgage Complaints" to all appropriate local, state and federal regulatory agencies, as the servicer would be in serious default! CLICK HERE to Get Started
Now, a borrower can take a more offensive approach, and have a better chance of loan modification, principal and rate reduction, refund, or resission, regardless of their hardship or payment history!
SEE VIDEO PROOF! CLICK HERE! Another U.S. Lender Audit Sample Forensic Audit CLICK HERE!
PROTECTION OF CREDIT RATING WHILE UNDER RESPA or FDCPA VALIDATION REQUEST
During the 60-day period beginning on the date of the servicer's receipt from any borrower of a qualified written request relating to a dispute regarding the borrower's payments, a servicer may not provide information regarding any overdue payment, owed by such borrower and relating to such period or qualified written request, to any consumer reporting agency (as such term is defined under section 1681a of title 15). Make sure during this time to consider keeping notes and getting any names if they've failed to cease and desist. You may be entitled to FDCPA damages for every attempt they make while in dispute. You may also want to consider The Fair Credit Reporting Act should be referrenced and agaencies on notice should you want to make extra certain to the request being pursued by you.
Our mission is to help protect the "American Dream of Home Ownership". We offer a no obligation, free initial consultation to homeowners and legal professionals. We welcome the opportunity to talk with you and to discuss how we may assist in providing you with the means needed to potentially VOID the "mortgage", get you additional stay, principal reduction, discount to your pay-off, reduction of prinicples, refund, further discovery, quiting of title, mediation, forelcosure dismissal and more.
ADDITIONAL EXPLORATORY LEGAL AREAS:
Deceptive Pratices, Unconsionable Acts, Unfair Dealings, Unclean Hands, Fruad in the Inducement, Fraud in Fact, Unjust Enrichment, Void Contract, Material Breach, Intentional Infliction of Emotional Distress; Declaratory Relief; Injunctive Relief; Restitution and more.
Not an Attonrney AT LAW? Have your attorney consider our expert consultations and other learning channels. Booking availabilities are online. CLICK HERE to Get Started
Other areas that you and your client should explore during litigation include Deceptive Practices and Unfair Lending along with Fair Credit Reporting. Over reaching mortgage transactions can at times be challenged under state unfair and deceptive acts and practices (UDAP) law. Broker misconduct and yield spread premium, without proper disclosure, may violate a UDAP statute. Transactions with lenders and/or brokers who are not licensed, but should be, may be void. It may be a UDAP violation for a lender to do business with an unlicensed broker. Most UDAP statutes provide for some combination of actual damages, statutory damages, multiple damages, attorney fees and costs, and some states, punitive damages.
While the deadlines for bringing a RESPA lawsuit can be short; if you delay, you could lose your right to bring a claim. However, the statute of limitations can be extended an additional three years or more upon the actual discovery of violations or if material issues of fact are still outstanding. Moreover, many federal and state fraud findings, carries no stature of limitations, please check your state for the Statute of Frauds.
FEDERAL RULES of CIVIL PROCEDURE
Addtionally, areas such as negotiable instruments law and procedure , are becoming more and more important for attorneys and homeowners seeking relief. Laws concerning indorsement, transfer, accommodation and assignment and the variance in the application of these laws carries with it the probability of undermining the confidence that people will have in knowing that contractual obligations will be enforced and that they are protected by legal conventions that are accepted all over the world. In the context of the mortgage meltdown, the only defensive positions that can be taken by those who would enforce securitized notes and mortgages, given the predatory practices employed and the failure to disclose the inflated pricing and valuation on both sides of the transaction. Procedural problems may call for recission, illagility, lack of standing, lack of subject matter jurisdiction, lack of capacity to contract and act ultra vires, failure to satisfy prima facia elements, misrepresentation, lack of mutual ascent, estoppel, payment, unenforceability, contributory negligence, ratification, accord and satisfaction, and mootness if rescisssion is revoked. Some of these may also be brought as claims for declatory relief.
LACK OF STANDING. REAL PARTY OF INTEREST. FRAUD ON THE COURT
With most foreclosure proceedings, the party making claim to the right to foreclose lacks legal standing and in most cases will, with knowledge create fraud onto the courts. From The current environment brings many uneducated attorneys and "court" proceedings that may limit the very justice you may have at your fingertips! U.S. Lender Audit provides insight and a detailed analysis of the very violations exposed by lenders in all 50 states. Being the Preferred Lender Audit Company Nationally, U.S. Lender Audit's clientele include some of the top litigation/mediation attorneys nationwide. Our experienced team of professionals and experts are here to help you and your counsel.
You may use your right, or choose never to explore them abd Lose them. Know what LIES in your loan?
Do you have a case? Wrongful foreclosure action? Just Curious? Justice needs to prevail for those who have damage or are being wrongfully foreclosed or may currently be paying on a toxic loan. Correct federal and civil procedures are incredibally important during any foreclosure action as much as the origination of the contract and the securitization and it's legalities prior. Sadly, what may not be understood, is being felt by consumers everywhere, and our economy suffers with great tension and hope. SEE VIDEO PROOF! CLICK HERE!
CLICK HERE to Get Started
SEE a Sample U.S. Lender Audit! CLICK HERE! Another U.S. Lender Audit Sample Forensic Audit CLICK HERE!
Homeowner? Have Questions? Click the Homeowner FAQ
Legal Professional or Opporutity Seeker? Interested in Distribution. Professional Provider FAQ
RECENT CLIMATE: GET THE ATTENTION YOU DESERVE!
Why the Loan Audit?
At the end of 2008 it was reported: The proportion of modified loans delinquent by 30 days or more was 55% after six months, according to the Office of the Comptroller of the Currency and the Office of Thrift Supervision. Modified loans that were 30 or more days delinquent after three months stood at 37%, the agencies' data showed. Borrowers facing hardship, will typically fall into a modification set by calculative procedures by the servicer. It is statistically shown, that the typical loan modification, is not working amongst those borrowers who have signed upon it's terms. Furthermore, the "negotiations" provided by "loan modification" companies, may not be nearly as effective as one may think, since the servicers are providing solutions based on recent legislative or governmental programs. The audit and our support team help give clarity for those looking for supportive evidentry findings and creating levels of leverage to help create the chances for a more favorable outcome.
WHY LOAN MODIFICATION IS NOT WORKING!
The real reason why "loan mods" are thus being routinely rejected is pure and simple "balance sheet economics". A bad loan is a liability on a lender's balance sheet. A "modified loan" is just a lesser example of a loan which is already a liability, and a modified loan does not result in any money to the brokers, appraisers, trustee sale companies, or foreclosure mill law Firms. Additionally bettween the lack of Generally Accepted Accoutning Pricipals, Institutional arbitrage advantages, creative balance sheet advantages between institutional and governing parties, corporate shell games and synthetic pools of profitable design for the other party, depletion of participants, and the writedowns, inusrance coverages, bail-outs, and limitations on the modifications allowed by contract of the pooling and servicing agreement, make modifications of any sort, perhaps as predatory as the loans originated themselves.
BENEFIT FOR THE BANKS vs. RISK: THE ADVANTAGE OF LEVERAGE AND TRANSPARANCY
By foreclosing and obtaining a money judgment (for the amount due on the note) and the property, the "bank" turns a non-performing liability into a two-tiered asset in the form of a receivable (the amount "due" from the borrower per the Judgment), and a tangible asset (the property) with its inflated value as the result of an inaccurate or outright false "broker price opinion" (BPO) which was prepared by the "bank's" broker on nothing more than a "drive by" of the property (that being no interior inspection for defects, necessary repairs, wear and tear, etc.)
LEVERAGE AND ITS ABUSES : GIVING THE BANKS A CHANCE TO EARN OFF OF YOUR CREDIT AND VALUE!
Recent reports show that Freddie and Fannie own and guarantee 45% of all of the mortgages in the United States - $4.8 trillion worth of mortgages. However, with the mortgages they actually own and hold on their balance sheets, provide a face value of $1.7 trillion. They hold these assets with only a about $70 billion in "core" capital.
With a combined leveraged ratio of 24-to-1, a 5% loss in the value of their mortgages would wipe out 100% of the equity in each firm. Looking beyond their balance sheets to their off-balance-sheet guarantees, you see that they're actually leveraged 68-to-1. Thus a 1.4% decline in the value of their total on- and off-balance-sheet would wipe out shareholders.
These high leverage ratios lead to bankruptcy as seen with companies like Lehman, Bear Sterns, Freddie, Fannie and just about every banking institution. Yet, while the government has been busy policing the rest of the financial markets, it has overlooked a time bomb under its own umbrella... the Federal Housing Administration (FHA).
According to the Wall Street Journal, an undisclosed Housing and Urban Development (HUD) audit shows the FHA's cash reserves may fall below its congressionally mandated 2% of insurance liabilities by year's end.
A loan audit and its supportive findings provides a common ground where all parties can understand such violations that are evident along with proposed observations of preliminary suspect whereby a valid motion or demand for further discovery presents itself with clarity. Postion your clients in an offensive position to where proper remediation is scalable. The U.S. Lender Audit provides you with the evidence and support you can trust to help your clients seek better modification terms, restructuring of new terms, principal or rate reduction, or continued discovery. With the greatest potential to alleviate "normal modification" setbacks and re-occurance of default, qualified and objective evidence helps simplify negotiations and stay using the information and support provided by U.S. Lender Audit.
MEDIA: DON'T TAKE AYTHING FOR FACE VALUE!
Some media attempts may even help cover up the unscrupulous mistakes and violations that exist from the banks and the government; Or the media staff themselves, while concerned to know the truth, makes their own judgement calls, or can't wrap themselves around the complexities, leaving the people with no real substantive reporting while good people wanting to pay to the proper parties, if the debt still exists, have a fair chance to know exactly what happened during the course of their "loan" and it's servicing. Such actions end up depriving good people wanting to understand the facts... how to really explore alternatives...regardless of their financial position, credit implications, or payment history, undecided and concerned! Don't believe everything you read or take anything for face value! Continued legislative moves may help some, but the majority of programs, simply, are not working.
CLICK HERE to Get Started
You may have already faced irreputable harm, from credit damage, domestic issues, mental anguish, loss of job, and so more and may be entitled to relief aside a good defense or an original claim.
Homeowner FAQ
Professional Provider FAQ
ATTORNEY? Know how better to navigate your clients! Help them stay in their homes and work with legitimate strategy to help bring a claim or counter. Borrowers should know their rights before signing on the dotted line with loan modification, as they may be giving them away. Do they know what violations both within the loan documents and the lending environment allows them? Litigation and recourse opportunities at your fingertips. Have clients that want to sell? Better the chances for deep short sale pay-offs and removal of judgement deficiencies. Order a mortgage loan audit!
U.S. Lender Audit provides the
Nation's #1,
MOST Comprehensive and Accurate
Forensic Loan AnalysisTM
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or Call Toll Free: 888-8-AUDITING or 888-828-3484
Proidly Servicing All 50 states!
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Tampogo, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.
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