What Is A Forensic Loan Audit?

In the past, forensic loan audits were only available to large lending institutions and banks. They utilized them to determine if they were at a high risk or could face any legal liabilities before purchasing large amounts of mortgage loans.

Now, forensic loan audits are available to the general public through a variety of mortgage firms. A forensic loan audit is performed by an experienced mortgage professional and is done to determine if there are any violations or errors evident in your mortgage agreement.

These audits can be very helpful if you’re experiencing problems in paying your mortgage payments, or if you’re seeking a loan modification. The auditor will go over all of the details contained in your mortgage agreement and provide you with a comprehensive report. And, they will go over all the details with you and explain any errors they may have found.

Unless you have experience in the financial field, all the legal jargon in any loan agreement can almost seem like a foreign language. A forensic audit can help you understand exactly what is included in your mortgage. Even a small error in the monetary numbers on your mortgage can add up to a lot of money.