This topic explains the nature of a comprehensive professional mortgage examination and how to utilize it. When we refer to “you” below, we mean you the mortgagor (borrower).
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, doing necessary internet research, and crafting a report or a complaint detailing the evidence of tortious conduct, contract and regulatory breaches, and legal errors underlying the mortgage. The documents you must submit to the examiners include the following:
- Examiner’s borrower questionnaire detailing the circumstances of the loan transaction and events since;
- Examiner’s Non-disclosure and retainer agreement;
- Loan Application;
- Mortgage, note, HUD-1 report, TILA disclosures, 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, transcripts, and related documents.
- Every other loan /servicing related document since the inception of the loan.
Collectively these could consist of several hundred to several thousand pages.
The examination firm charges a fee for this service, and provides you 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, you will hire an attorney to read over the report, negotiate a settlement, and then sue, as necessary. Although mortgagors who have sufficient intelligence, knowledge, and negotiation skills can arrange settlements without an attorney, you can also make critical mistakes that a competent attorney would not make. Mortgage Attack recommends hiring a “competent” 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 specific, highly competent mortgage examination firm that does examinations nationwide. Mortgage Attack has reviewed many examination reports from that firm and recommends it exclusively because of the quality and comprehensive nature of the report.
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. This remains true in spite of the best intentions of the service providers. Whether or not these providers fit into the “scammer” category, it makes zero sense 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 in winning compensation for the injured borrower. If you purchase such services you will thereby waste your precious financial resources.
Mortgage Attack encourages sincere mortgagors to contact us (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 most competent mortgage examination services 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 Contact form completely, and write the details of your circumstances and the efforts you have made to save your home.
- Submit the form.
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 you provide the papers and pay the examiner’s fee, the examiner’s team will do the examination work and send the examination report to you by email within seven business days.
Note: the examination firm can style the mortgage examination report as a complaint or answer to a complaint (including counter-claim and cross-claims) ready for filing in your state court, IF you have a responsible and cooperative attorney handling your case. Typically this will save you time AND money if you know you cannot avoid litigation in your case.
In this matter nothing can substitute for intelligence, common sense, legal and business knowledge, and artful use of the technical information in your examination report. As in any other technical undertaking, whatever you do you must do artfully.