Comments on: Forensic loan audits - A new type of loan modification scam http://www.mortgagefit.com/blog/forensicloan-auditscam/ Behind the scene Wed, 23 May 2012 14:32:45 +0000 http://wordpress.org/?v=2.5.1 By: george m. akerley http://www.mortgagefit.com/blog/forensicloan-auditscam/#comment-19754 george m. akerley Fri, 05 Mar 2010 16:47:03 +0000 http://www.mortgagefit.com/blog/?p=150#comment-19754 Brian, I appreciate the news, but I wish you had gone into more detail. If you'd quoted from the California Department of Real Estate's press release, perhaps; that would have created a greater impact. Also, you mention at one point that "experts" feel that the forensic audits "provide no benefit." That's just too vague for my tastes. I recently spoke with a local mortgage loan officer who has joined up with one of these firms. There's a hefty referral fee for him with each borrower he refers to the law firm that runs the audits. Of course, the borrower has to pony up over $2000 just to get started (non-refundable, of course). I didn't like the sound of the overall deal - too dicey for me - so I never followed through. Since it's based in California, I guess I'd have to say I'm glad things worked out the way they did. Brian, I appreciate the news, but I wish you had gone into more detail. If you’d quoted from the California Department of Real Estate’s press release, perhaps; that would have created a greater impact. Also, you mention at one point that “experts” feel that the forensic audits “provide no benefit.” That’s just too vague for my tastes.

I recently spoke with a local mortgage loan officer who has joined up with one of these firms. There’s a hefty referral fee for him with each borrower he refers to the law firm that runs the audits. Of course, the borrower has to pony up over $2000 just to get started (non-refundable, of course).

I didn’t like the sound of the overall deal - too dicey for me - so I never followed through. Since it’s based in California, I guess I’d have to say I’m glad things worked out the way they did.

]]> By: Jannett http://www.mortgagefit.com/blog/forensicloan-auditscam/#comment-19747 Jannett Fri, 05 Mar 2010 10:25:32 +0000 http://www.mortgagefit.com/blog/?p=150#comment-19747 Thanks for this piece of info. Recently, I found such an ad in our local newspaper and was just giving a thought whether or not to go for it. But after what I read here, I'm sure, I would not go for such a service. Thanks for this piece of info. Recently, I found such an ad in our local newspaper and was just giving a thought whether or not to go for it. But after what I read here, I’m sure, I would not go for such a service.

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