Category Archives: Securitization Mortgage Audit

The Basics of Securitization

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The basic definition of securitization is to pool certain form of assets so that they can be clubbed together into interest-bearing securities. This decade old concept is given a bad name since the devastating mortgage crisis of 2007 began. In securitization the payment of principle and interest of the assets are passed on to the buyer of the securities.

The process of securitization dates back to 1970’s when government backed agencies pooled the home mortgages. Beginning from 1980s, the market has grown leaps and bounds in the recent years as other income producing assets were also securitized. In certain markets, for example in case of risky subprime mortgages backed securities, the investors lose confidence as the quality of the assets deteriorated.

Poor origination of credit, inefficient methods of evaluation, and loop holes in regulatory oversight has caused considerable harm to financial stability; this is evident both through the persistence in audit crisis and the scale of it.

More and more financial institutions are switching to securitization and pass on the credit risk of the assets which is shown from their balance sheet to that of various other financial institutions such as insurance companies, banks, and hedge funds. This is done to achieve various purposes. It has been found that it is economical to accumulate funds through securitization.

For banks it is less costly to hold on to these securitized assets as financial regulators have set up different parameters for them in comparison to assets that underpinned them. This principle of “originate and distribute” has come up with several economic benefits too. It diffuses the concentration of the risk by spreading the credit exposure and systemic vulnerability is reduced.

Until the crisis of subprime was disclosed it is mostly considered that securitization only has positive and fruitful effect. But securitization has also been used by some as a means to have minimum parameters of prudent lending, management of risk and investment at a time of small returns.

 

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New Twists in Forensic Mortgage Audits

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Professionals dealing with fraudulent foreclosure activities work on fifty percent truth or outright lie and promote their service with the promise to bring relief to people who are on the verge of facing foreclosure. As per The national consumer protection agency, “The Federal Trade Commission”, the latest in the line is homeowners who are financially strapped and use the method of forensic mortgage audit to save themselves from foreclosure.

These homeowners pay an upfront fee to the forensic auditors also known as foreclosure prevention auditors, who, along with forensic attorney go through the documents of your mortgage loan to find out whether your lender has complied with laws given out by the state and the federal government or other lending laws.

The report given to you by the auditor after scrutinizing your documents can be used to speed up the modification process of the loan, avoid foreclosure, reduce the principal on the loan, or can even get the loan canceled. There is nothing beyond the truth. As per FTC and its partners in law enforcement:

–        One cannot be hundred percent certain that there will be modification of loan or any other type of foreclosure relief as their documents goes in the hands of forensic mortgage auditor, even though they may be experienced, licensed and legitimate lawyer or professionals.

–        There is provision in federal law which gives the homeowner the liberty to sue his or her lender in case there is any error in the documents of the loan. But the lender is not bound to make the payments for loan more affordable, even if the person wins the case in the court.

–        In case the homeowner terminates the loan, then he or she is required to return the money that is borrowed, and the end result will be that the person will lose a place to live.

 

If the homeowner is at default in the mortgage or is facing foreclosure, than it is quite likely that the person targeted by foreclosure rescue scam. It is worth to be aware of the telltale signs and be able to recognize them and report it in time.

 

Get more info about Forensic Mortgage Audits at Securitization Audit Reports

Securitization Audit with Bloomberg Report

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Millions of householders are still faced with the terrifying prospect of losing their home to foreclosure.  If you’re one amongst of} the millions who are struggling to form your mortgage payments every month, then you recognize how the worry of foreclosure will loom over you.  However, several foreclosure claims predatory lenders push through are indeed wrongful foreclosures. this can be why many householders are turning to securitization audits so as to assist save their homes.

Securitization may be a method where a particular asset is converted into a security that may be sold and traded on the open market. this can be what happens when lenders securitize a home mortgage.  However, if the method isn’t done properly, the title and therefore the note will become separated, then your lender might not possess the legal right to foreclose on your home. {this is|this is often|this will be} when householders can get the foremost use from a securitization audit.

A securitization audit functions substantially sort of a legal investigation, or C.S.I. for mortgage documents. it’ll verify if your loan was securitized within the initial place, and if it absolutely was done following the proper procedures.  Over eighty fifth of home mortgage loans have felt this method, and since of the greed of the lenders participating in unlawful and predatory practices, several mortgages are incorrectly securitized.  If this can be the case for your mortgage, and you’re facing foreclosure, then which means the foreclosure you’re facing may be a wrongful or fraudulent foreclosure, which you have got an opportunity to fight back against your predatory lender before they will take your home away.

The best thanks to fight back is by contacting Tila Solutions and have them perform one amongst their Bloomberg-based securitization audits on your loan.  Not solely can a Bloomberg-based securitization audit verify if your mortgage has been securitized and securitized properly, however it’ll even be ready to verify if you have got been the victim of any type of robo-signing.  The Bloomberg-based securitization audits that Tila Solutions provides will review all assignments for any proof of wrongdoing, like robo-signing and review all records relating to your home loan that are filed with the county.  These securitization audits will give detailed reviews on all foreclosure documents.  With the proof provided by a securitization audit, you’ll stop the foreclosure of your home.

 

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Securitization Mortgage Audit

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The yank home owner, once the backbone associated with the us economy, has become the actual victim of bank perpetrated mortgage loan fraud and even a failing economy. around the express nation’s banks are terribly foreclosing on exotic loans knowing given to unsuspecting house owners whom are at currently losing their dwellings.

Courts are usually clogged up with mortgage fraud, wrongfully denied loan modification, and additionally Wrongful foreclosure cases as house owners turn out eager pleas to not lose the house.  In the end, their forensic financing audits demonstrate that the bank guaranteed them the two qualified for the particular financing.

During the housing boom of early 2000, thousands of homeowners were misled back to loans that the full banks knew the two failed to qualify for furthermore as would never have the facility to be able to repay. the full banks, but sadly weren’t alarmed over the particular person’s inability may|that may|that will} repay as a result of the particular truth the two are securitizing the loan and therefore acquire their full payment extended before the actual thirty season contract may conclude. additional the full draw back of foreclosing on the property might fall therefore on the full service of the loan, to not mention indeed there was insurance cash that may pay them off.

Within the loan provider’s angle this had been just too smart of the deal to be able to pass up.  Destination legion house owners into loans they might never hope to repay, place the full loans at intervals the stock marketplace for unsuspecting investors to shop for furthermore as then place them with services who might afterward gather everything the two might at intervals the home-owner. Subsequently initiate foreclosures against the home-owner. that’s mortgage loan scam of epidemic proportions. the strategy the bulk started by misrepresentation and additionally manipulation of the house owner. the actual prepare never really contained giving the full home-owner a loan mod.

Today the actual country suffers with epidemic levels of wrongful foreclosures. and therefore the banks have equally been the key player in an exceedingly failing economy tightening up the bulk regions of lending, that created jobs losses. several house owners embrace being unable to be able to maintain payments beneath the strain of lost jobs and even a stagnant economy. the explicit banks escort perpetrated the simplest levels of criminal activity ever before detected at intervals this explicit nation, but it terribly is that the particular trusting house owners that are forced therefore as actually the actual burden of that criminal activity by suggests that of accelerating unemployment, pay cuts, reduced hours, and additionally at long last wrongful foreclosures.

Homeowners may very well Fight against Mortgage Fraud:

1. don’t assume that your express loan does not embrace any mortgage loan scams throughout it and additionally it happens to be okay for anyone to perform well directly with all the bank therefore on accumulate a Loan modification.  This “assumption” has caused several thousands of people to urge rid of their dwellings.

2. as a result of the initially step to really acquiring out should you’re usually a victim of mortgage fraud get a forensic financing audit then a securitization audit conducted on your financing. many of these couples will certainly tell somebody if usually there is really mortgage fraud, violations of federal laws that embrace TILA, RESPA, HOEPA, ECOA, to not mention totally different federal regulations; equally whether or not or not or not or not the note and deed embrace being separated, so making property foreclosure unlawful, furthermore as robo-signing, and others.  It happens to be all the found throughout these forensic loan audits and additionally securitization audits.

3. when you grasp the particular results of these two audits, consequently you will be able to merely choose a concept of action to avoid wasting the dwelling. you’d presumably opt to have a loan modification negotiated, or simply patrons might need to pursue lawful action. the actual decision is supposed to be easier to form with all the essential information to appear at.

 

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