Some banks often believe they could sell a fraudulent loan service to homeowners who are suffering from fraudulent loans. Mortgage Securitization Audits popped up everywhere for homeowners during the housing crash, and many homeowner purchased these audits in hopes of fighting the fraud they had already endured. Unfortunately, many of these securitization audits were just as scammy as the robo-signing process that got many of these homeowners into their loans.
Mortgage Securitization Audits, also referred to as “forensic document review” offered homeowners a way to find out if they had been a victim of fraud, or if there were any mistakes made in their original mortgage documents. These mortgage audits were denounced by the FTC because companies were collecting a few thousand dollars and either doing nothing for the homeowner, or providing them a stack of documents that didn’t have any legal bearing.
While a few thousand dollar scam should never be ignored, the real issue comes when the homeowner then loses their home to foreclosure. Most homeowners that ordered a mortgage securitization audit did so because they were behind on their monthly payments, and seeking ways to get caught up before having the home sold out from underneath them at auction. The audits essentially just bought the banks more time, while draining the wallets of homeowners even further.
Not All Securitization Cases are Equal
The legality of the information in the information discovered by a forensic document audit vary. While the FTC denounced this practice, some of the information you learn about your property through the audit could help you in court. If you are considering filing a mortgage litigation case against your lender based on the information found in your securitization audit, you should call and speak to one of our California mortgage attorney today.
Our mortgage lawyers provide free consultations, and will review your document and files with you over the phone, or in person. We work with each client on an individual basis to form a legal plan to sue the lender to stop the foreclosure process or help prevent foreclosure eviction.
Speak to a California Securitization Attorney
If you think that you may have a case against your lender, our mortgage fraud attorney will be happy to spend some time reviewing your case. Our free consultation will answer all of your questions about how a securitization audit may be able to help save your home for good.