Anyone has any experience with Forensic loan audits?

[Jozef Forgac]

Anyone out there has any experience or results with forensic loan audits?
I know companies that start doing that, but I don't know about any results as it is take a very long time to finish it.
:roll:
I know how is that work, but I don't know about any rsults.

[Will Barnard]

After glancing thorugh this thread, there appears to be some bad information.
A fornesic loan audit is not the process of having you or your attorney tell the bank to "produce the note" which some have done to stall their foreclosure process.
Rather, a fornesic loan audit (at least a real one) is where an experienced attorney goes over your loan documents as well as the appraisal documents and idnetifies (if they exist) any violations in the TILA (Truth in Lending Act), loan fraud, appraisal fraud, RESPA violations, etc. Armed with these violations, you can then approach the bank not with your hands out begging for a loan mod, but with the threat of a lawsuit and demand that your loan be restructured, often times, receiveing funds back that you were overcharged, either in interest, or in fees, sometimes both.

Very few attorneys now this real process and many claim to provide the service, but all they use is some computer software to examine the loan documents. This same software was designed by the banks to use for themselves to help insure they do not violate TILA and RESPA laws. Obviously, their is no computer software replacement for real eyes on the docs.