Richard Cormier Supporting Information
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We Offer a 100% money-back guarantee! Richard Cormier, Thank you for your interest in The U.S. Mitigation Service. Below you will find some links to some extremely informative video news clips giving you some powerful insight on how lenders have been violating rights of homeowners that can cause severe frustration to their families. Banks give you the run around! http://www.youtube.com/watch?v=2DVr9uJ1dJQ ROAD TO RUIN: Mortgage Fraud Scandal Brewing http://www.youtube.com/watch?v=6khYSTqHrqM FBI Mortgage Fraud Crackdown http://www.youtube.com/watch?v=9fMlGGABcHs BANK ADVISES FOR 3RD PARTY LOAN MITIGATORS http://www.youtube.com/watch?v=OhwyINqA9lU
www.theusmitigationservice.com Forensic Audits are used to identify laws your lender broke! The #1 goal of the Forensic Audit is to determine whether there were violations of federal law. Experts Agree That 4 out of 5 Mortgage Loans Contain Serious State and Federal Violations Now, a borrower can take a more offensive approach, and have a better chance of loan modification, principal and rate reduction, refund, or rescission, regardless of their hardship or payment history! A 2006, FDIC Office of Inspector General Report revealed: •
83% of the institutions examined were cited for "significant" compliance violations
•
43% of those institutions were "repeat offenders"
•
85% of those repeat offenders were highly rated by the FDIC for their in-place compliance process
Many loans funded during the "boom" years of 2002-2006 were performed with legal violations. Although only a fraction of the loans were funded with blatant disregard for the law, the majority of loans
have significant State and Federal violations resulting from carelessness, greed or just innocent oversight by the lender and/or broker. However, no matter why these violations were performed by the lender, these violations carry EXTREMELY stiff financial penalties for the lender, and can result in SERIOUS legal consequences to the lender, such as forcing the lender to refund all interest paid to date back to the borrower.
If these violations are found, then the borrower may be eligible for complete relief of the predatory loan or a very favorable modification. Complete relief of the predatory mortgage is called as a loan rescission. Meaning the lender takes back the “predatory loan” and awards or credits back to the borrower all interest made on payments thus far, loan origination fees, all applicable lenders fees, penalties and attorney’s fees As part of the agreement we will perform an extensive and thorough examination of your mortgage loan file to determine your loan's enforceability and what important remedies are available to you. Borrower remedies can include the right to rescind a loan, block foreclosure, or secure refunds and monetary damages. Notice of material violations will very likely compel a lender to modify a loan. A forensic audit audits a loan for compliance against more than 330 consumer protection laws, is widely recognized by the mortgage industry as the most comprehensive and precise auditing tool available.
A forensic audit: • • •
Quickly analyzes mortgage loan data for compliance with critical provisions of more than 335 federal, state and local mortgage-related consumer protection laws and regulations. Compliance decision rules are maintained by in-house mortgage compliance attorneys and audited by nationally-recognized outside counsel. Updates and enhancements are implemented regularly to ensure compliance with new regulatory requirements, changes to existing laws, and evolving loan products and lending practice.
How Does a Forensic Loan Audit Help? All mortgages must comply with fair lending laws. Any error or omission on the part of a lender or their agents constitutes a violation. Our forensic loan audit verifies compliance with the following: • • • • • •
State and Federal Predatory Lending Laws Real Estate Settlement & Procedures Act (RESPA) Truth in Lending Act (TILA) Home Mortgage Disclosure Act (HMDA) Fair Housing Act (FHA) Equal Credit Opportunity Act (ECOA) and more
“What LIES in are in your Loan?” www.Theusmitigationservice.com
www.theusmitigationservice.com Forensic Audits are used to identify laws your lender broke! The #1 goal of the Forensic Audit is to determine whether there were violations of federal law. Experts Agree That 4 out of 5 Mortgage Loans Contain Serious State and Federal Violations Now, a borrower can take a more offensive approach, and have a better chance of loan modification, principal and rate reduction, refund, or rescission, regardless of their hardship or payment history! A 2006, FDIC Office of Inspector General Report revealed: •
83% of the institutions examined were cited for "significant" compliance violations
•
43% of those institutions were "repeat offenders"
•
85% of those repeat offenders were highly rated by the FDIC for their in-place compliance process
Many loans funded during the "boom" years of 2002-2006 were performed with legal violations. Although only a fraction of the loans were funded with blatant disregard for the law, the majority of loans
have significant State and Federal violations resulting from carelessness, greed or just innocent oversight by the lender and/or broker. However, no matter why these violations were performed by the lender, these violations carry EXTREMELY stiff financial penalties for the lender, and can result in SERIOUS legal consequences to the lender, such as forcing the lender to refund all interest paid to date back to the borrower.
If these violations are found, then the borrower may be eligible for complete relief of the predatory loan or a very favorable modification. Complete relief of the predatory mortgage is called as a loan rescission. Meaning the lender takes back the “predatory loan” and awards or credits back to the borrower all interest made on payments thus far, loan origination fees, all applicable lenders fees, penalties and attorney’s fees As part of the agreement we will perform an extensive and thorough examination of your mortgage loan file to determine your loan's enforceability and what important remedies are available to you. Borrower remedies can include the right to rescind a loan, block foreclosure, or secure refunds and monetary damages. Notice of material violations will very likely compel a lender to modify a loan. A forensic audit audits a loan for compliance against more than 330 consumer protection laws, is widely recognized by the mortgage industry as the most comprehensive and precise auditing tool available.
A forensic audit: • • •
Quickly analyzes mortgage loan data for compliance with critical provisions of more than 335 federal, state and local mortgage-related consumer protection laws and regulations. Compliance decision rules are maintained by in-house mortgage compliance attorneys and audited by nationally-recognized outside counsel. Updates and enhancements are implemented regularly to ensure compliance with new regulatory requirements, changes to existing laws, and evolving loan products and lending practice.
How Does a Forensic Loan Audit Help? All mortgages must comply with fair lending laws. Any error or omission on the part of a lender or their agents constitutes a violation. Our forensic loan audit verifies compliance with the following: • • • • • •
State and Federal Predatory Lending Laws Real Estate Settlement & Procedures Act (RESPA) Truth in Lending Act (TILA) Home Mortgage Disclosure Act (HMDA) Fair Housing Act (FHA) Equal Credit Opportunity Act (ECOA) and more
“What LIES in are in your Loan?” www.Theusmitigationservice.com
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