The Forensic Review of Your Loan File
The word forensic comes from the Latin word forensics, meaning public, forensic, from forum forum.
- Belonging to, used in, or suitable to the courts or to public discussion and debate
- Relating to or dealing with the application of scientific knowledge (as of medicine or linguistics) to legal problems
- Adapted or suited to argumentation; rhetorical
The following is a general list (not all-inclusive) of the 500 points of review that will be covered. The review is limited in its scope to the paperwork that you have available for us.
Your loan file will be reviewed for many points as they relate to what is required nationally, by State Statute, as well as by what may be considered imprudent lending and borrowing practices. This review will assist you in deciding whether you have been treated in a fair and compliant fashion enabling you to decide whether or not you should seek legal council in the handling of your loan. Included in your file review will be:
- Real Estate Settlement and Procedures Act (RESPA) compliance
- Accuracy of Good Faith Estimates
- Accuracy of Estimated and Final Truth in Lending forms (Regulation Z)
- Proofing of the APR by RESPA regulation
- Correct Signatures, Initials, and Notarization
- Accuracy and Clarity of the Note and Amendments
- Accuracy and Clarity of the Deed of Trust and Amendments
- Discrepancy check between Note, Deeds of Trust, Good Faith Estimate, Truth In Lending forms
- Verification of validity for Notes, Deeds of Trust, and Amendments
- Verification that late charges are within state regulations
- Compliance with the Equal Credit Opportunity Act
- Compliance with the Fair Lending
- Compliance with U.S. Code Title 18
- Compliance with Rate Lock Disclosures (by state)
- Accuracy and discrepancies in Applications
- Compliance with the Home Mortgage Disclosure Act (HMDA)
- Verification of your Mortgage Broker's and Loan Officer's Licensing and Registration (as available by year)
- Tests for Predatory Lending including loan flipping
- Tests for compliance with the Home Ownership Equity Protection Act (HOEPA)
- Compliance of Lender's Escrow Instructions
- Estimated and Final Hud1 Settlement Statement review for compliance and accuracy
- Check for appropriate endorsement and signatures in community property states
- Check that all forms are filled in appropriately
- Check that necessary forms have not been omitted
- Verify accuracy of rescission period and notification
- Check for proper Service Transfer Disclosure and information
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