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Forensic Loan Analysis
Don’t qualify for loan modification? You can still avoid foreclosure.
Do any of these scenarios describe your situation?
- Did you purchase or refinance a home with a loan program such as “interest only short arm (adjustable rate mortgage) loans?
- Did you purchase or refinance a home with a loan which had a negative amortization payment associated with it?
- Did you learn you are not eligible for a loan modification based on the “Home Affordability and Stability Act” guidelines?
Why we have forensic loan analysis
The Problems homeowners face, and why forensic loan analysis exists
When home buyers look for a mortgage they rely on information provided by the professional advice and the aid of a mortgage broker, banker, or loan officer. The loan process is complicated and almost everyone places their trust in these professional as a resource to guide them through the process.
Unfortunately, many of these professionals placed a majority of borrowers in loans that the borrower could not afford, primarily due to misinformation provided from the home buyer or the overzealous efforts of the mortgage professional. Many of these consumers were put into unrealistic mortgages, that now have become extinct due to their market failure, and the home owners are possibly in a financially bad situation.
Predatory lending is a buzz word that is floating around a lot right now and for good reason. There are thousands and quite possibly a million or more people that have mortgages where the Truth in Lending Act was violated, thus falling under the predatory lending statute. Many can stop foreclosure if they only knew what to look for and knew how to defend themselves. This is where forensic mortgage analysis plays an important role.
The loan application process all the way from loan origination to loan funding is heavily regulated by both state and federal laws. Many acts have been put in place as a means of ensuring the consumer has been properly informed on all aspects of the loan. Some of these Acts include the TILA (Truth and Lending Act), RESPA (Real Estate Settlement Procedures Act), ECOA (Equal Credit Opportunity Act), HOEPA (Home Ownership Equity Protection Act), and more. Each of these Acts were put in place to protect you the home buyer of misrepresentation and or fraud. If your loan documents were not prepared correctly the appropriate disclosures will not be accurate on your loan documents. As a result, you the consumer, entered into a contract misrepresented by the other party, i.e. the bank.
This is where forensic mortgage analysis plays an important role for homeowners; and, most homeowners are not aware of the inaccuracies or solutions available.
The Solution is Forensic Mortgage Analysis
Do not worry; JnR Associates’ forensic mortgage analysis program may be the solution for you. First, we will determine if you qualify for a loan modification. If you do not qualify we have a system we will perform called our Forensic Loan Analysis. We will perform this loan analysis on your final loan documents, search and find legal infractions within the loan documents.
This service is very specialized and imperative in identifying if a borrower is a victim of predatory lending. We review all loan documents and perform a thorough investigation for miscalculations and misrepresentations in the legal disclosures to determine if the loan terms are accurate, truthful, and met the requirements of the applicable federal statutes.
These loan infractions will be presented to you in a report which clearly defines all errors done within the duration of your loan process. We will even have the appropriate violations listed for your review and their legal codes shown and explained on each infraction we uncover.
What are the benefits to me, the homeowner?
The benefit to you the home owner is you now have a clear understanding of all the infractions which exist within your loan documents; so, you’re not out of options! Now, as an informed consumer you have the power of the law on your side working for you. Working together JNR Associates will help you determine a strategy as to how this information may be useful in having your loan modified in an effort make your payment more affordable.
Strategies include, but are not limited to, challenging the banks with the new information uncovered from our forensic loan analysis and, with this leverage, help you complete the note modification you had hoped to obtain.
Still have questions? To learn more about our forensic loan analysis program contact a JNR Associates Loan Modification Consultant free of charge or obligation. Call us toll free at (866) 571-8037 or fill out our online form for email support.