Mortgage Audit Service Exposes Predatory Loans
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Mortgage Audit Service uses the full force of the laws of ·The Truth in Lending Act the · Real Estate Settlement Procedures Act · Federal Deposit Insurance Consumer Protection Act · Federal Trade Commission (Fair Credit Reporting Act (FCRA), FDCPA Federal Collections Practices Act.
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What We Know
Lending without due regard for repayment ability is prohibited.
Lenders can be held liable for the actions of brokers.
If your total debt to income ratio is more than 55% you are in a Predatory Loan.
Putting into a loan with less favorable terms than they would otherwise qualify for is prohibited and could be considered loan fraud.
If you got a loan between the years 2000 to 2007, a mortgage audit is likely to uncover a wide range of errors in your mortgage which will give you the upper hand in negotiating with your mortgage lender.
How We Know
We review your loan documents (the papers you signed when you applied for the loan and the papers you signed when you closed the loan). We investigate whether the information and calculations provided in those documents was accurate, truthful, and met the requirements of the applicable federal and state statutes.
We focus on whether the loan you were told you were getting was actually the loan you received.
Some Of The Things We Review and Document:
- The dates on every part of the documents and what they reveal
- The Loan Application
- The Loan Terms
- Fraud and Violations in your Good Faith Estimate and Settlement Statement
- Truth In Lending Disclosure
A Discovery Report:
- Was your loan done in accordance with state and federal laws?
- The amount your broker and other people made from your loan.
- An assessment of your rights based upon the violations in the loan documents.
Restructuring Your Loan:
After the Audit and Review of the current terms of your unaffordable loan, and documenting the Federal, State Violations and Fraud your lender may have no other choice but to restructure the payment terms to make the loan affordable.
Attorneys
|  Is your practice involved with bankruptcy, foreclosure, real estate or maybe you’re a Criminal Attorney, Consumer Attorney, Bankruptcy Attorney or Foreclosure Attorney, these are some of the Attorneys who have attended one of our seminars.
Maybe you were doing loan modifications, but are now unable to continue because of new state laws? Call, us we can show you how to earn a great living “because of these laws”.
“What Some Attorneys Have Said About Us”
Learned much more than I thought I would. Unfortunately the time permitted was much to short. Let me know of your next seminar.
Susan H.
Phoenix, AZ
Thanks, Jack. You are the best!
Chris G.
Fort Lauderdale, FL
Thank you for identifying specific elements in the loan documentation that may present TILA violations.
Earl E.
Atlanta, GA
Had no idea of what can be discovered from the mortgage documents and what parts of the documents are most important. Mr. Conte, let me know when you’re going to have a more comprehensive seminar.
Douglas P.
Sarasota, FL
Jack
Good program today. Can you send me a copy or give me the citation, or any info that would help me locate the case you mentioned involving TILA violations for failure to schedule mortgage payments.
Thanks.
Edward G.
Washington, DC
Mr. Conte,
Thank you for responding so quickly, and thank you for the presentation the other day.
Thank you again for your time and consideration.
Kent
Cedar City, Utah
Jack,
I am swamped, but just had a chance to look it over and thank you so much. You have been so helpful. I will try to get into this case today or tomorrow and may have some comments or questions for you.
Warm regards,
Brett
Carlsbad, CA
Jack,
It was a pleasure speaking with you. Attached is the Jones loan file.
I look forward to hearing back from you on your opinion concerning material TILA violations.
Sincerely,
Brett
Carlsbad, CA
Thank You, Mr. Conte - this is excellent! Also, thank you for taking the time to call and speak with me yesterday. I really enjoyed and appreciate it! Looking forward to any other information you can send my way and hopefully working with you sometime in the future.
Sincerely,
Michael J. D.
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 Lending without due regard for repayment ability is prohibited. Lenders must reasonably believe borrower(s) will be able to make the scheduled payments, considering: 1) current and expected income, 2) current obligations, 3) employment status, and 4) other financial resources other than the borrower's equity in the collateral.
| Lenders can be held liable for the actions of brokers.
| If your total debt ratio is more than 55% you are in a Predatory Loan. Making a stated income loan for the purpose of avoiding this requirement is prohibited. Find out what your debt ratio is.
| Steering a borrower to a loan with less favorable terms than they would otherwise qualify for (based on lender's objective underwriting criteria) is prohibited and could be considered loan fraud.
| Violation of California Civil Code § 1632 California Civil Code section 1632 provides, in relevant part: Any person engaged in a trade or business who negotiates primarily in Spanish, Chinese, Tagalog, Vietnamese, or Korean, orally or in writing, in the course of entering into any of the following, shall deliver to the other party to the contract or agreement and prior to the execution thereof, a translation of the contract or agreement in the language in which the contract or agreement was negotiated, which includes a translation of every term and condition in that contractor agreement.CAL. CIV. CODE§ 1632(b).
| The Federal law The Truth In Lending Act (TILA) protects you the same way as (California Civil Code § 1632) even if you're in any other state.
| If you got a loan between the years 2000 to 2007, a mortgage audit is likely to uncover a wide range of errors in your mortgage which will give you the upper hand in negotiating with your mortgage lender.
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