Beware of Scam “Forensic” Loan Auditors/Companies
Ok, here we go go again… now the scams have hit the loan auditing industry. Most of these fakers are ex-mortgage brokers who didn’t make it in the mortgage industry and are now looking for a new way to make money. There are a few good auditors out there who have really put in the time, effort and research to actually know the laws and know how to properly state the elements of these violations in a manner that can actually help a homeowner in a foreclosure matter (and can help an attorney bring these violations as affirmative defenses or counterclaims in a foreclosure case).
TILA or supposed “Forensic” Audits that use standardized check-off lists without providing a mathematical determination of the TILA Disclosure Statement and amounts are NOT Forensic Audits. A check-off list or automated/software-driven TILA Audit describing potential violations as “Serious,” or “Moderate” is incompetent and useless. A Forensic TILA Audit must provide accurate TILA; Regulation Z citations, case law precendent, as well as actual computation of all settlement service fees properly allocated in the TILA Disclosure Statement or the Audit will NOT withstand scrutiny by legal authorities. Do not be fooled by imitations using standardized check-off lists.
There is absolutely nothing “forensic” about plugging loan data into some software and having it spit out a report. But that is exactly what most of these fakers are doing and they are charging anywhere from $395 to $995 based on what I have seen so far.
If the loan audit will NOT stand up to legal scrutiny then you have wasted your money and someone has scammed you into believing you were paying for something that would help you. Why would you pay for a loan audit that would not stand up to legal scrutiny?
The software driven report serves a limited purpose and I use a popular banking compliance software for my audits as well but this software-driven report is only a small piece of my actual audit and findings report. A true forensic auditor examines every document relevant to the loan and looks at signatures, dates, parties on the documents, who provided those disclosures or documents and also obtains the story from the client because every loan is a story. It involved people and usually quite a bit of communication between the borrower and the indispensable parties to the transaction.
I have myself setup for Google Alerts on a number of search terms so I go to these other websites pretty frequently. I also get clients who have dealt with some of these fraudsters and now want my help to clean up the mess and the wasted money. Hopefully this post will cause those who read it to really do some good checking before they part with hard-earned money.
Bottom line is to make sure you follow your gut. Do your homework, ask questions, ask for references. A good auditor will most likely have attorneys they work for and consult for.
Feel free to contact me if you have any other questions on this topic or would like a sample of my audit reports. You’ll be able to see the true forensic nature of a good audit vs. these computer-generated reports.
I have been contacted by a company called Hope Audits.
They promisse a lot. They say they can force the bank to reduce the principal and the rate.
They charge $2,500 in advance.
It looks like a scam to me.. what do you know about them?
TKS
Alfonso
I was contacted by them as well but they went by the name Hope Audit Solutions as was supposedly a company based out of Santa Ana California. They asked me for my checking account information and wanted 1 month's mortgage in the amount of $1530. Their address, telephone number, website, etc can not be found. I truly believe they are scammers.
From NC.
Our family name was misspelled several times in the Loan Documents; I asked the Notary we can not sign to that misspelled name, but he insisted that Agent will give us the corrected; however, we asked again until to the Title secretary to give us the corrected or the amended documents; since April 2005, they have not provided. Also, we did not get what we really wanted why we need to Refinance: to have a better loan, like lowered interest rate and monthly payment, and most especially to Open Equity Line of Credit. The Agent disappeared after the loan was processed. We spent almost $10K for closing cost to that new worst loan, we could have just hold on to the old Loan we had.
I work for hope audit solutions based in santa ana california. They used to have a loan modification company called "home loan mod usa" then they changed the name to "core pac solutions". they just changed the name again to hope audit solutions just a little while ago and THEY ARE A SCAM!!!! RUN when you can and if you have paid CORE PAC SOLUTIONS a fee to modify your mortgage just dispute the charge with you credit card company for a full refund! they cant say no to that. DONT PAY THEM BY WIRE TRANSFER OR CHECK!!!!!
Thank you for your insight. What do you know about CMAC: http://www.truthinaudits.com They are touring with NACA across the country. Are they legit?
I don't have any specific interaction with them. I'll just say that there are maybe a half a dozen of us anywhere in the country who really know how to audit these transactions from all angles and can work with and/or coach an attorney through the process to bring these claims. Just because NACA is involved doesn't mean a thing. I have had several clients tell me that they had a bad experience and/or received bad advice from NACA. If you need any auditing work done, please feel free to contact me and we can talk directly. My number is 800-985-4685 ext. 0
I guess I am late. I payed by my checking account to Core Pac Sulutions who had changed rescently from Hope Audit Solutions. They took what they said was a morgage payment before they would contact my morgage co any further to dispute charges for me. They took 1200 dollars and never called back again. The old number was 714-656-3893. The first represenative was a gentelmen by the name of Corn wallas, whom they said they fired and then someone else after him and then he was fired untill no assistance at all and no money returned.
If you paid with a credit card, try disputing the charge with the credit card company, if it's not too late.
My wife and I had the unfortunate experience of meeting with Keith Turner (real name Reginald Keith Turner) conducting business from 13000 S. Tryon Street in Charlotte, NC for the purpose of securing a forensic loan audit. The business name is Hazelton Management LLC (without a comma). We learned that he is licenced in CT as Hazelton Management, LLC. The tax accessor's office records a catalogue store located at 13000 S. Tryon Street. We cancelled this order with Turner before he would have had opportunity to perform any work and asked him to return our payment to him of $1,450. We live in Winston-Salem. Turner left our home, deposited our check into a CT bank account and will not respond to our request for a refund. This man and his business operations in the State of NC are a total fraud and I would advise everyone reading this to stay away from these criminals.
WLP
My daughter and her husband had the misfortune of dealing with this character! He scammed them out of their hard earned money under the pretense that he could assist them with a modification of their home mortgage. (They were experiencing a financial hardship at the time.) He had my daughter meet him in a Food Lion parking lot to pick up the payment! His claim was that he didn't want people "coming in and out his office while he was trying to get his work done." He never did what he said he was going to do and when they attempted to contact him, he never returned their calls. Never do business with this company under any circumstances!
Melanie can you tell me where your daugher and husband met or found Mr. Turner. There are a lot of people looking for him. Thank you
Dear Willie, Can I speak with you over the phone? I have a couple of question about this company and it's owner and you may be able to help me.
Willie – Can you tell me where or how you met Mr. Turner? There are a lot of people looking for him. Thank you
I was contacted by US Loan Auditors LLC have anyone hear of them.
I was contacted by them too-just based on some phone conversations and the amount of cash they want up front-I smell a rat. They requested 1% of our home loan amount and $1000.00 per month to go into an account to pay .for the legal fees. To start I would have to send them a check in the amount of 3220.00! Everything they promise seems to good to be true and if it seems to good to be true I am guessing it is.
Is Robert Hook a Marshall Company a scam or it it for real? I am after $55,000.00 @3% for a 6 year contract.$835.00 a month for 72 months. So far, all they are asking is for a copy of my driver's license for security purposes. No money yet. They said My 1st payment would be in 3 months.I am in desperate need of this money trying to save my trucking business.Their email is marshall company@sify.com. What should I do. Hope you can help. Joe.
I have send money to this robert Hook for a loan…is he and his company real "Marshall_company@sify.com…let me know….
Core Pac S. and Hope Audit S. are the same company – Core Pac handles the modification requests and Hope Audit handles the audit requests.
I am a former employee of Core Pac Solutions and I would highly advise NOT to obtain the services of this company.
First of all, Core Pac Solutions is not and was never a law firm. Although this attorney is a real person, they simply used the name of Stephen E. Heyn to make the company look more credible.
The mailer that you received was through a marketing company that we paid to deliver mailers to thousands of homeowners. This mailer promised we could get you a really low interest rate, probably something like 2%. Unfortunately, not ONE of our employees ever saw this mailer. Be warned: we are not the only company sending out these generic mailers!
The $500 is for the service, the additional mortgage payment IS NOT, nor is it held in escrow. This is a flat out lie! They request this “mortgage payment” for 2 reasons: 1. to make you feel more secure that you will get a good modification from your lender and 2. because the salesperson taking your call works on 100% commission.
Unfortunately, if you get declined by your lender, and request a refund, you will find it next to impossible to obtain any money back. They will use reasons such as, you did not supply us with the requested documents in a timely manner (which, by the way, IS stated in the contract YOU signed)or that the company is entitled to an additional fee based on the amount of time spent on the file. If you receive a less-than-desired modification, you will not be refunded, as they have held up their part of the contract by assisting you with the process.
Cornell Wallace was an employee when I worked there and was fired because he used the marketing, that Core Pac paid for, to redirect the potential clients to another company he worked for (possibly his own). Do NOT pay him for his services, regardless of the company he works for! He is a crook and, in my opinion, deserves to be in jail!
Hiring a professional to assist you with a modification will usually help you to get a better deal than if you were to do it on your own but, keep in mind, it is still not a guarantee and the the person you hire still deserves to get paid for their services, regardless of the outcome.
Also keep in mind that a loan modification can sometimes take up to 6 or 7 months, depending on factors such as the lender (and their workload), the investor and the city, since it involves escrow as well.
As of October 2009 in the state of California, you cannot be legally charged for a loan modification before you actually get the loan.Effective October, 2009 in California, it is illegal to collect any fees, regardless of the form, for negotiating or attempting to negotiate a loan modification for a residential mortgage. All modification services must be fully completed before any money can be collected. It is also illegal to divide fees or services into components for the purpose of avoiding this law.
As the last line states….calling what it is by any other name…still is breaking the law.
Do you have any advice on loan modification companies that are NOT scams? It seems like just about all of them are! I've also been talking to TILA (Truth in Lending Auditors) out of Wyoming. They have an "A" BBB rating but that's all I've done on my check so far. I would really appreciate your feedback.
Do you know anything about "Truth in Lending Auditors, LLC" out of Cheyenne, WY. Please let me knowL Are they legitimit or a scam. they want $1,850 up front to start work on the audit.
I think they are called TILA for short. A co worker used them and said that they gave her a very good quality audit. She also said that their negotiators were able to get rid of their Home Equity Line of 75k. They have an 'A' rating apparently (Just looked them up)
Hope that helps Bob.
Vicki
Hi Bob,
Did you end up using TILA? I am talking to them and just can't figure out if everyone out there is a scammer or if they are legit. Please reply asap if you get this message!
Yes, Rickey, they are crooks.
Can you go into more detail. They are seeking local counsel to act on their behalf, but I'm weary of applying for the position if I would be dealing with scammers.
Thanks
Do you know anything about Lender Forsenics LLC out of North Palm Beach Florida? I was recommended by The Law Offices Of James Cioffi.
Is there anybody that you could refer in my area? Daytona Beach, Volusia County Florida? I really dont want to get scammed by anybody. Thank you
Bev, I am in your area and I used Lane Houk (this is his site). His services are reasonably priced, and he is very upfront and honest and working with my attorney as well. He also posted his number above, I will paste it in: 800-985-4685 ext. 0
Lane-Thank you!! For your informative site and all of your expertise!
I tried Us loan auditors…. they were ok, i liked what i got out of the program, just cant say much about it.
Beware of a company called Financial Capital Solutions, Newport Beach California.
They do phone solicitation, fast talkers.
Talked a disabled vet looking for a refinace or a loan modification into their program, took 1500, wanted another almost 1500. When approached with the knowledge that this was not what he was to have paid for, they said they’d refund only 590 as they had done paperwork and had a file…the file nor the money have not been returned. This man didn’t need an investigation. He was under the impression, as their add says, that he would be dealing with an attorney.
When I called and asked…I got the same fast talk, was told they would find out mistakes, then they would “strong arm” the loan company to give him a loan? Anyone who has experienced an upside down loan knows there is no strong arm approach that will work. I’m sending the information to the Attorney General of California…, as well as the BBB, that with just one complaint has given them a D rating….buyer beware
hi everyone,
here is the info on who has contacted me:
Tim Bronson
Intake Consultant
Truth in Lending Auditors
Office Phone: 307 316 0044
Direct Line: 307 200 4550
Fax Line: 253 444 5498
http://www.tila8.com
any comments?
they charge 1,650 total in to 825.00 payments
How about America's Lending Resource? Has anyone heard of them?
Has anyone heard of "Endless Fraud Detection? They even have a radio show in Austin, TX?
Thanks,
The banks and our government are all in on this scam of the American homeowner. Check out the REAL story where the banks are tearing down NEW homes to avoid paying taxes at:
http://www.youtube.com/watch?v=ZsgOaCZ2Lag