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A securitization audit is in simple terms a specific legal document that is used to aid any person whether a private individual or commercial entity to review their mortgage loans. These powerful documents are especially useful for any one facing foreclosure. What's more the findings of the audits are fully admissible in any court as valid evidence.
Normally, any body that suspects their imminent foreclosure may be incorrectly instituted by their loan trustees, has the right to hire expert auditors to conduct a specialized review of the loan documentation. However, it does have to be stressed that only audits done by experts within the industry will be admissible in any court proceedings. All mortgage auditors need to obtain certification, prior to being able to conduct any forensic loan audits.
But when it comes to these auditors, for the best recognizable results, lenders must only hire firms backed by several years of experience in the industry. When forensic mortgage auditing is done precisely, the ensuing documentation become very powerful tools, that will be the deciding factor between foreclosure of winning the appeal to have it overturned. Three loan dilemmas will call for the use of these experts and the documentation of their findings.
Firstly, in order to get any principal loans adjusted, modified or lowered. Secondly, where people are trying to have a foreclosure dismissal, or for any person fighting to have it completely overturned. When given over to a shrewd judge, these documents will provide them with valuable insight into how one's mortgage was filed and help in their judgment.
But one first needs to understand how the whole process actually works; and therefore needs to know how securitized home loans work. Basically, the entire process involves a grouping of large amounts of mortgage loans into a bundle or a "security". These bundles or securities are then offered for sale on Wall Street. Doing this, basically removes the capital risk from financial institutions directly and the consumers mortgage provide constant cash flows which are used to fund markets.
Although this practice in itself is not illegal. Not processing the loans accordingly or omitting important documentation certainly is considered to be fraudulent. Thus is any companies found to have missing documentation will face very hefty fines. As a result the lenders will be offered modified loans, reductions in their mortgage balance or postponement of any foreclosures.
Consumers are warned not to confuse this process with Mortgage Audits. These audits merely check to see if any RESPA or TILA violations occurred. These will result in a couple of thousand dollars rebate, but will not stop any foreclosure. These audits are not as in-depth.
So, when faced with potentially losing their any fixed property, get one of these experts to conduct a legal securitization audit. If unsure if ones mortgage is secured or not, can be checked for free by these firms. Hire auditors who have two or more decades of experience in the industry.
Normally, any body that suspects their imminent foreclosure may be incorrectly instituted by their loan trustees, has the right to hire expert auditors to conduct a specialized review of the loan documentation. However, it does have to be stressed that only audits done by experts within the industry will be admissible in any court proceedings. All mortgage auditors need to obtain certification, prior to being able to conduct any forensic loan audits.
But when it comes to these auditors, for the best recognizable results, lenders must only hire firms backed by several years of experience in the industry. When forensic mortgage auditing is done precisely, the ensuing documentation become very powerful tools, that will be the deciding factor between foreclosure of winning the appeal to have it overturned. Three loan dilemmas will call for the use of these experts and the documentation of their findings.
Firstly, in order to get any principal loans adjusted, modified or lowered. Secondly, where people are trying to have a foreclosure dismissal, or for any person fighting to have it completely overturned. When given over to a shrewd judge, these documents will provide them with valuable insight into how one's mortgage was filed and help in their judgment.
But one first needs to understand how the whole process actually works; and therefore needs to know how securitized home loans work. Basically, the entire process involves a grouping of large amounts of mortgage loans into a bundle or a "security". These bundles or securities are then offered for sale on Wall Street. Doing this, basically removes the capital risk from financial institutions directly and the consumers mortgage provide constant cash flows which are used to fund markets.
Although this practice in itself is not illegal. Not processing the loans accordingly or omitting important documentation certainly is considered to be fraudulent. Thus is any companies found to have missing documentation will face very hefty fines. As a result the lenders will be offered modified loans, reductions in their mortgage balance or postponement of any foreclosures.
Consumers are warned not to confuse this process with Mortgage Audits. These audits merely check to see if any RESPA or TILA violations occurred. These will result in a couple of thousand dollars rebate, but will not stop any foreclosure. These audits are not as in-depth.
So, when faced with potentially losing their any fixed property, get one of these experts to conduct a legal securitization audit. If unsure if ones mortgage is secured or not, can be checked for free by these firms. Hire auditors who have two or more decades of experience in the industry.
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