Forensic Loan Audit
DO YOU FEEL YOU HAVE BEEN A VICTIM OF PREDATORY LENDING?
The only way to know for sure is to have your loan audited by a professional! FIND OUT FREE TODAY if you are one of the millions of predatory lending victims in the country.
Many homeowners who are experiencing difficulty staying current on their mortgage payments or worse...facing foreclosure today...are unaware that they were victimized! The only way to know for sure is to have your loan audited by professionals! Find out for FREE today if you are one of the millions of predatory lending victims in the country.
What defines predatory lending?
Steering & Coercing
Many homeowners were given sub-prime loans when they may have easily qualified for prime loans. Fannie Mae estimates that possibly up to 50% of the sub-prime refinanced loans could have been prime loans
Excessive Fees
A refinanced mortgage can be packed with excessive fees and/or unnecessary fees. A regular mortgage usually will have loan fees below 1% of the total loan amount. A predatory mortgage can have loan fees in excess of 5%
Insurance and Other Unnecessary Products
Predators often add insurance and other unnecessary products to the loan amount. The insurance they either insist on or intimidate the borrower into buying can include regular mortgage insurance, fire and hazard insurance, life insurance, disability insurance, homeowner's insurance, and health insurance.
Contact Us Today for a No Cost, Confidential Consultation.
Abusive and Abnormal Prepayment Penalties
Only about 2% of normal conventional mortgages have a prepayment penalty that might be difficult to meet. Up to 80% of sub-prime mortgage have an abusive prepayment penalty. Why? This is one more way the lenders made excessive money off of homeowners who were trapped into staying in an unaffordable loan because they could not afford to pay the cost of refinancing with the pre-payment on their loan.
When lenders find a homeowner whom they can talk or coerce into refinancing their mortgage, even though the homeowner gains nothing from the transaction once the fees and cost of the loan is taken into account. The process is called loan flipping.
Mandatory Arbitration
Another practice that falls within the definition of predatory lending happens when a lender hides words in the fine print that make it illegal for the homeowner to take legal action against the lender. The borrowers sign away their rights to sue the lender for any fraud, predatory actions or illegal actions.
Let TCS Net Solutions
review your loan today and get the facts!
How does it work?
Mortgage Auditing - The Forensic Loan Audit The Forensic Loan Audit is the foundation of our process, and serves as an invaluable key to homeowners looking for the best possible loan modification. Well over 50% of the audits we perform reveal major TILA or RESPA violations, as well broker misrepresentations. You will receive a 20 page report showing everything that our Mortgage Auditors have found, in addition to the Federal & State violations. The Mortgage Auditor will review your loan file document by document. Our audit includes recalculating closing costs, interest rate, total cost of finance charges, and comparing these costs to what was disclosed to you BEFORE you signed, against what the final closing costs were on the Final Closing Statement. We use special state & federal mortgage loan compliance software to calculate and identify violations, and to generate a very detailed report. Many other companies will charge consumers $200-$600 dollars to perform processes that are less thorough and complete than the rigorous review we provide you. And, the best part is that we perform the audit for you for FREE. That's right. You will know the results of your loan audit before you pay a dime! In some cases, if you are overcharged by only $35.00 or more, or if your annual percentage rate is just .125% higher; that is a violation of the Truth in Lending Act.
Attorney Assisted Lender Negotiation
You will receive a phone call from one of our attorneys as soon as the review of your file is complete. These attorneys are all specialists in the areas of real estate law; Federal & State mortgage compliance, and of course contracts. After reviewing the Forensic Loan Audit, your financial information, and your family's desires pertaining to your home, the attorney will recommend a specific course of action that presents the best solution for YOU. This will take place within only 7 days of your application for our services and submitting the required paperwork. The recommended options may include: loan modification or rescission, short sale, foreclosure or bankruptcy. Our expert staff can seamlessly guide you through all of these options. In most cases, a call from an experienced attorney gives the lender more than enough incentive to grant you a favorable modification on your existing mortgage loan. Early in the loan modification process, we create the official QWR (Qualified Written Request) that requires the lender to send us ALL of the actual final loan documents. Federal RESPA laws require them to comply within a limited time frame. This too, is a great tool to find problems within your loan to help us get your loan modification approved more rapidly than doing it yourself. Lenders nationwide are overwhelmed with modification requests from consumers. As mentioned, we have established relationships with attorneys. In turn, these attorneys have already established relationships with most of the nation's top 20 lenders. Because these lenders have already seen our Loan Audits and approved many of our modification requests, we are assigned an inside account representative and we are permitted by their modification departments to work directly with them, rather than you having to go through the inundated consumer channels that can sometimes take months.
Loan Modification Processing Center
To assist you throughout the entire process, we have experienced Client Managers in our Modification Processing department to expedite your loan modification request directly through our contacts at the lenders. The Client Managers have the time, tenacity and the experience required to stay on top of your modification request. Our loan modification clients have told us, time and time again, how much they appreciated our professional Client Managers handling this tedious, time consuming, and often times, very frustrating function after having tried doing it themselves. We know you have enough stress in your life at the moment. We want you to know that you are not alone! We are here to assist you through the entire process, with professional service and results!
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