Advocates for Consumer Affairs- America's Leading Mortgage Auditing Firm

LOS ANGELES, Jan. 4, 2012 /PRNewswire/ -- Advocates for Consumer Affairs, Advocates for Consumer Affairs is a network of experienced certified forensic loan auditors specializing in the research and analysis needed to provide attorneys and loan modification companies with the Forensic Loan Audits & Qualified Written Requests that they need to even the playing field with Lenders and successfully negotiate Principal Reductions, Interest rate Reductions and Loan Modifications on behalf of their homeowner clients.

Advocates for Consumer Affairs now want to concentrate their efforts on helping the general population more effectively obtain accurate mortgage compliance audits and ensure enforceable loans. This firm is led by a very effective and experienced management team that is sure to make a huge impact in an industry that needs more accountability and accuracy in this arena of the transaction. The management team mentioned that this is the only report needed for loss mitigation purposes.

What is a Forensic Loan Audit:

A forensic loan audit is a process that breaks down and analyzes a set of loan documents to determine if all parties completed proper procedures and complied with regulations during the origination of the loan.

Today, the forensic loan audit represents a powerful tool to help clean up the mess left behind by the mortgage meltdown, as well as to safeguard against a future disaster. Here's how.

With courts recently gaining power to demand loan modifications in some instances, forensic loan audits likely will change how the lending business operates. The system will be more tightly regulated and focused on loan quality, rather than loan quantity. Lenders will seek brokers who consistently produce loans that perform.

In turn, forensic loan audits could make it easier for lenders to highlight lending patterns connected to a single broker. They also could help brokers improve their own work and build a reputation based on quality.

As the use of forensic loan audits becomes more widespread, mortgage brokers must know what a forensic loan audit is and how it can be used.

What we use your forensic loan audit for… Principal Reduction - When a property is upside down and the homeowner is facing foreclosure, the homeowner has more leverage than they may realize against their lender. Our service can force that leverage upon that lender. In doing so, you can be successful in wiping out large portions of principle. Typically 50-80%! Loan Modification - most major lenders and service providers will negotiate a loan modification where most of the delinquent payments and foreclosure fees are either wiped out or added onto the back end of the loan. In most cases the interest rate and payment will be reduced permanently. Homeowners need to prove what the maximum payment is that they can afford by constructing a financial plan that the lender will approve, and since the homeowner is often late with their payments and in foreclosure or soon to be in foreclosure, the lender must be asked to forgive the delinquent payments or put them on the back of the loan.

Interest Rate / Payment Rate Reduction - With the overwhelming increase of interest rates resetting on home loans and the devastating effect of this economy, many homeowners are faced with mortgage payments they can no longer afford. It is better to lower the homeowner's payment by lowering the interest rate or payment rate by creating a payment plan the borrower can afford, than to take the home with a foreclosure sale and lose money on the re-sale. Keep in mind lenders lose money on bank owned properties as it will sell for less than market value, and they must pay a commission to a Realtor; and closing cost plus the cost of holding the property while they wait for a sale in a market that is depreciating.

Advocates for Consumer Affairs is a national compliance management firm which provides professional, advisory, and consulting services to financial institutions, mortgage bankers, real estate attorneys, consumer lending entities, and homeowners. Our expertise addresses all critical areas associated with regulatory matters, compliance, and quality control. Advocates for Consumer Affairs can assist clients in meeting the oversight of regulators, fair lending mandates, and maintaining internal lending integrity and validation practices through independent quality control audits.

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 a loan audit can help place the borrower in the offense! We at Advocates for Consumer Affairs help legal professionals navigate through the process with our learning channels, which we find critical for those legal advisors that are looking to make the audit solution part of their business practice. Information is only as good as the ones that know how best to use it.

Advocates for Consumer Affairs is in the business of helping home owners that are interested in determining whether or not they have an enforceable loan. Through sophisticated software and specialized auditors it is dedicated to providing accurate reports and quick turnaround times. Any negotiations that take place with lenders are done at no cost to the client as they offer free negotiation services!

Advocates for Consumer Affairs offers products to the general public while delivering outstanding services with wholesale pricing. Advocates for Consumer Affairs also handles commercial loan audits for several Commercial Loss Mitigation Companies. Advocates for Consumer Affairs offers a variety of audits at wholesale pricing for residential and commercial real estate transactions.

For more information about Advocates for Consumer Affairs, please visit us at www.aca-portal.com or call 1-866-730-5515.

SOURCE Advocates for Consumer Affairs