Mortgage Fruad Examiners Warns: Beware of the Latest Foreclosure Rescue Service–Securitization Audits

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Mortgage Fraud Examiners, the investigative firm who warned the public about the “criminal loan modification trap, useless “forensic loan audits,” the “administrative process” scam, and “pretender defenders” is now warning homeowners and the public of the latest scam—Securitization Audits.

With many homeowners facing foreclosure and looking for help across America, many worthless services have cropped up with such promises as “mortgage elimination” or other foreclosure tactics that in some cases are patently illegal. Now a new and commonly advertised service the “Securitization Audit” is being pushed.

A number of companies have been trying to peddle “forensic loan audits,” aka TILA/RESPA audits, but because knowledgeable homeowners and attorneys know these “audits” are basically useless, the “wolves in sheep’s clothing” have had to switch gears and are now hyping, these basically worthless securitization audits.

Mortgage Fraud Examiners Founder Storm Bradford explains: “The supposed reason given for a ‘securitization audit’ is to determine the true owner of a promissory note. Allegedly, with this information, the homeowner can show a court that the party actually foreclosing on a mortgage is not the actual note owner. But, why pay a securitization auditor when that information is free for the asking. As a courtesy to homeowners they can call us and we’d be more than happy to show them how to find the owner of their note for FREE!”

Moreover, if homeowners and their legal counsel really had doubts about who had the legal right to foreclose they’d file what’s known as a interpleader action listing everyone who might have a claim, deposit their mortgage payment with the Court, and let the lenders and assignees fight it out. However you never see that, since defaulting homeowners and their counsel really don’t care who has the right to foreclose, so long as it’s not THE bank foreclosing now. It’s just about stalling, and lining the pockets of ‘pretender defenders. http://www.veteranstoday.com/2012/03/21/mortgage-fraud-examiners-warns/

Thomas K. Plofchan, Jr., an attorney in Sterling, Virginia, who employs the services of Mortgage Fraud Examiners instructs: “Ultimately, the only real issue is whether a proper lien has been created with the house as collateral. It is astonishing just how many legal errors, contract breaches, and frauds, can be exposed by a meticulous examination of the mortgage transaction.”

“Matter of fact, in two recent cases we were able to identify and establish evidence to show the deeds of trust were void. The end result for the homeowners was receiving their respective homes free and clear. So, it’s quite clear, a thorough examination of the mortgage contract is the ONLY proven method to uncover evidence that could affect the validity of the lien.”

Gregory Bryl, an attorney, who practices in Virginia and Florida, explains: “most ‘securitization audits’ that I have reviewed are inadmissible in a court of law; they contain a mere opinion of a layman without personal knowledge (direct experience) as to what happened with a particular mortgage note after closing. In reality, in about 95% of all cases, the information supplied by a ‘securitization audit’ is either already publically available, or it is unavailable to either the homeowner or the auditor.

Attorneys Bryl & Plofchan, like many attorneys are exposing securitization audits for what they are–basically worthless. http://www.nakedcapitalism.com/2011/05/new-homeowner-scam-mortgage-securitization-audits.html and http://mattweidnerlaw.com/blog/?s=securitization+audits&search=Search

Bradford concludes: “Knowledgeable attorneys agree that the majority of these ‘securitization audits’ made by these so-called ‘certified’ auditors are worthless. The foremost problem is the qualifications of the ‘auditor.’ Does anyone really believe that taking a class from some private company that allegedly ‘certified’ them has any credibility? Moreover, these ‘auditors’ are claiming they’re expert witnesses because they’re ‘certified;’ well it’s the judge who decides if a witnesses is credible, and without experience with securities—good luck. http://www.scambusters.org/mortgagesecuritization.html

“Clearly, the only established procedure for a homeowner to obtain financial compensation or their home free & clear is through an in-depth analysis of the mortgage transaction (contract), to identify legal errors breaches, tortious conduct; and then attacking the loan based on those findings. Regrettably, everything else is just wishful thinking or a scam.” http://www.wvrecord.com/news/233771-quicken-loans-on-losing-end-of-3-million-predatorylending-

Mortgage Fraud Examiners
Phone: 800-540- EXAM (3926)
http://www.mortgagefraudexaminers.com

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