Mortgage Compliance Enforcement Education Provider, Homeland Assistance, Presents Certified Mortgage Industry Experts, American Loan Compliance, Recognition for Innovative Consumer Mortgage Loan Modification Strategy
Statistics released currently show a five-fold increase in the use of compliance technology for enforcement and a wider adoption of electronic data to streamline mortgage loan processing. The use of the Investigative Audits have indicated an increase to lender response in expediting case evaluation for approval to a variety of mortgage assistance programs including permanent loan modifications, trial loan modifications, principle loan amount reductions, mortgage payment assistance and relief to forbearance programs.
LOS ANGELES, March 2, 2012 /PRNewswire/ -- American Loan Compliance (www.americanloancompliance.com), in association with Homeland Assistance, along with the Federal Relief Organization (www.fedrelief.org), certainly some of the nation's leading providers of American real estate compliance analysis and mortgage investigative solutions, were recently publicly recognized for an event, which reached out to over several hundred homeowners in California. The event known as H.O.M.E., an acronym for Home Ownership Mortgage Education, which took place in Los Angeles, educated homeowners about bank practices and the verified benefits in usage of mortgage compliance analysis reports and investigative securitization and forensic loan analysis audits. Activities included an exploration of case studies showing errors in bank practices, discussion of unique claims brought against Bank of America and Chase, as well as a question and answer session. American Loan Compliance again reaffirmed its commitment to making homeowners aware of their options related to dealing with their loan modification approval with loan servicers.
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American Loan Compliance launched a new offering of educational products designed to provide guidance to professionals and property owners on how to use specific mortgage loan compliance audit reports to streamline open mortgage loan modification and/or loss mitigation cases for residential and commercial real estate transactions. According to the Limited Scope Electronic Examination Procedures published by Multistate Mortgage Committee (MMC) comprised of state regulator members of the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR), the initiative is, "a simultaneous limited scope examination of twenty five Multistate Mortgage Entities (MMEs) using the same compliance analysis software applications." The procedures explain that examiners receive electronic data for loans from licensees and audit the loans with the software, without the immediate need for costly on-site examinations. So far, twenty-seven states have collaborated in the examination process, which is enhanced through a variety of platforms used by numerous Corporations, including that of Homeland Assistance, H.O.M.E. Services, American Loan Compliance, U.S. Mortgage Compliance, Fed Relief Organization and others led by many leaders in the Financial Services Compliance Regulatory.
Recognized by many in the industry as one of America's most successful leading mortgage compliance enforcement watchdogs and mortgage report solutions analysts, American Loan Compliance has been the leader in the residential and commercial mortgage compliance analysis solutions providers, obtaining iconic credibility as a top-tier firm. After having launched a new offering of educational products designed to provide guidance to homeowners and commercial property owners, American Loan Compliance is in the Elite of American mortgage compliance analysis reporting agencies.
As a widely used resource for commercial real estate agents, as well as the exclusive auditing firm for Homeland Assistance and Icon Audit, American Loan Compliance continues to promote industry-best practices by educating investors and their advisors about the benefits of auditing the loans associated with their investments.
Michael Wright, Chief Executive Officer and acting Vice-President - compliance at Homeland Assistance, commented on the process, "Homeland Assistance has been using compliance analysis in production for many years. In every electronic examination that has required us to submit loan-level data, Mortgage Compliance Analysis Reports originating from American Loan Compliance has provided us with a simple and straightforward process to comply and to deliver the necessary information. AmericanLoanCompliance.com has been a useful platform in ensuring quick turnaround and assistance in staying organized. It has made preparing for enforcement much easier and quicker."
Since the beginning of 2011, Homeland Assistance has used Mortgage Compliance Analysis and other similar software to be a part of the 60,000 loans directed to regulators for Compliance Enforcement. Ensuring that loans are either clear of violations or not ahead of taking action can save a licensee the time and monetary cost associated with accusations that are more serious. As a result, lenders are increasing their use of the up-front automated audits to prepare in advance for the new regulatory reform. American Loan Compliance has recently opened its doors to consumers allowing the public to obtain these services directly from the firm, where prior to this decision, only conducted business-to-business dealings to correspondent lending institutions, federal banking associations, law firms, wholesale lenders, loss mitigation companies and direct lending institutions across the country.
The other importance of the mortgage audit findings is that it may be the grounds to help move a non-judicial foreclosure action (currently in 29 states), if necessary, into jurisdiction, which can stop foreclosure in its tracks. More importantly, borrowers regardless of financial hardship and payment history now have the chance for a better position to negotiate new terms or loan settlement. Violations found in an investigative loan audit can help place the borrower in the offense as proven by American Loan Compliance. American Loan Compliance continues their homeland assistance to legal professionals in navigating through the loan modification process with learning channels, which is critical for legal advisors that are looking to make the loan modification model of their business practice. "Information is only as good as the ones that know how best to use it", Michael Wright, the CEO of Homeland Assistance concluded.
American Loan Compliance incorporates many divisions that offer a variety of synergistic products to clientele while delivering a reputation for outstanding services and wholesale pricing. American Loan Compliance also handles investigative commercial loan audits for several Commercial Agencies, Banks, and Organizations. American Loan Compliance has viewed itself as a volume driven agency for residential and commercial real estate transactions. American Loan Compliance Headquarters is located in county of New York, state of New York. Their physical address is 1330 Avenue of the Americas, 23rd Floor, New York City, New York 10019.
For more information about American Loan Compliance, please visit http://www.americanloancompliance.com or call (888) 929-2829.
SOURCE Homeland Assistance
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