There is no loan. The banks never put up a penny for the funding of the note.The borrower signs a note. The lender receives a bond. That's an even exchange of consideration. How can a loan that never took place be audited? If we let them continue with this fraud you are giving houses to brokers who put up nothing. We don’t expect free houses, but we certainly don’t expect the brokers to get free houses either which under the current system is clearly the case.
Mortgage Fraud Examiners exposed this problem of bogus forensic loan audits almost two years ago in a press release: "Beware of the Latest Foreclosure Rescue Scam—Forensic Loan Audits."
There is no loan. The banks never put up a penny for the funding of the note.The borrower signs a note. The lender receives a bond. That's an even exchange of consideration. How can a loan that never took place be audited? If we let them continue with this fraud you are giving houses to brokers who put up nothing. We don’t expect free houses, but we certainly don’t expect the brokers to get free houses either which under the current system is clearly the case.
AceOfHeart2012 8 months ago
Mortgage Fraud Examiners exposed this problem of bogus forensic loan audits almost two years ago in a press release: "Beware of the Latest Foreclosure Rescue Scam—Forensic Loan Audits."
amicusman1 1 year ago