This topic explains the nature of a comprehensive professional mortgage examination and how to utilize it.
A mortgage examination done right takes a team of professional who spend upwards of 50 to 60 hours reading and analyzing every document related to the mortgage, and crafting a report or a complaint detailing the evidence of tortious conduct, contract breaches, and legal errors underlying the mortgage. The documents include the following:
- Loan Application
- Mortgage, note, and all other documents received at closing
- All correspondence with the lender, appraiser, loan officer, title company, servicer(s), lawyers, trustees
- All lawsuits and legal filings including foreclosure complaints and notices, bankruptcy petitions, and related documents.
Collectively these could consist of several hundred to several thousand pages.
The examination firm charges a fee for this service, and provides the client with an examination report that details all the causes of action and possible legal implications, along with instructions to discuss it with an attorney. The report itself becomes “Attorney work product.” The examiner intends it for use by the attorney and provides it as a paralegal service for the attorney.
So, ideally, the mortgagor will hire an attorney to read over the report, negotiate a settlement, and then sue, as necessary. Although mortgagees who have sufficient intelligence and negotiation skills can arrange settlements without an attorney, they can also make critical mistakes that an attorney would not make. Mortgage Attack recommends hiring an attorney in order to obtain maximum benefit from the examination and report.
Don’t Let Loan and Securitization Auditors Fool You
Mortgage Attack recommends a highly competent mortgage examination firm that does examinations nationwide. Mortgage Attack has review many examination reports from that firm and recommends it exclusively.
Many other firms and one-person-operations exist around the nation that provide amateurish “audit” services. From the mortgage attack perspective, these services have little value, and most of them appear like “empty gimmickery” to courts. And this remains true in spite of the best intentions of the service providers. Whether or not these providers fit into the category folks call “scammers,” it seems unwise to purchase their services which have little or no value in a mortgage attack and cannot become instrumental in saving a house from foreclosure or winning compensation for the injured borrower. Thus the purchase of such services will constitute a waste of borrower resources.
Mortgage Attack encourages sincere mortgagors to contact Mortgage Attack (see Contact page) in order to obtain the best examination service in America.
Take note that Mortgage Attack has no contractual arrangement with ANY firm. Mortgage Attack’s only interest lies in guiding mortgagors and their attorneys to the only competent mortgage examination service in America so mortgagors can have some chance of winning compensation for their injuries.
How to Get Your Mortgage Examined
If you want to get your mortgage examined, do the following:
- Fill in the Mortgage Attack Questionnaire. You might need the latest Adobe Acrobat Reader to fill it in.
- Save the form to your file system with your name appended to the file name.
- E-mail the file as instructed in the Questionnaire heading.
A Mortgage Attack representative will call you, assess your needs, and assist you in getting your papers together for an examination, then connect you to the mortgage examination firm.
You will receive this assistance free of charge as a public service. And you will have no obligation to obtain a mortgage examination or have further contact with Mortgage Attack or the examination firm.
After the mortgagor provides the papers and pays the examiner’s fee, the examiner will do the examination work and send the examination report to the mortgagor by email within seven business days.
How to Utilize Your Mortgage Examination Report
The examination report will delineate the causes of action in red ink. The mortgagor should write the paraphrased causes of action into a Notice of Grievance letter for the servicer and lender. This starts the Mortgage Attack process.
Mortgage Attack will not abandon the mortgagor in this process, but will remain available for discussion with the mortgagor and the mortgagor’s attorney as needed.