Comprehensive home loan reporting is a very successful tool when auditing for home loan frauds. As debtors continue to educate themselves about the game lenders performed during the increase in demand for new houses from 2001 to 2007 this kind of research not only goes into forensic details of a mortgages loans origination, but also the issue of profit produced by the securitizing parties and even period of time the full quantity was retrieved in regards to amount of the original loan.
Case after case is an obvious example of frauds covered with fraud dipped with more scams and covered in lies. At some point we all must stop adding on piles of proof and create sure this proof is being heard by federal and state court judges in every type of legal and non-judicial foreclosure state. As an auditor we depend on lawyers to create sure the evidence is provided and used in a way that gets results for affected house owners and investors. In short, the lender lent the borrower a quantity that was beyond his capacity to pay back and sold the loan to a securitization trust in thereby recovering the quantity it lent to the client within just three months of grant. For its part, the trust utilized the MERS System® to cut short the documentation process and skip documenting fees, earned tax-exempt income from securitizing this loan, and even if it did not properly adhere to the transfer specifications it is now starting foreclosure. MERS in turn involved the services of robo-signers to partly adhere to the specifications. Believe it or not most people in America are assured checking your home loan for frauds is malarkey. They think it is some fraud where by people try and get their houses for free. Let me be clear, I don’t devote my efforts and time to helping anyone who borrowed money to buy a house, have the misconception that they don’t need to pay it back.