Elite Loan Modifications

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Slide 1: 

REGULATORY FORENSIC REVIEW SOLUTIONS USING THE LOAN FORENSIC ATTORNEY TO IDENTIFY MORTGAGE REGULATORY VIOLATIONS ELITE LOAN MODIFICATIONS 866-960-2007

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About Loan Forensic Attorney Consumer Credit Regulatory Compliance Using the Loan Forensic Attorney to Identify Violations

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About Loan Forensic Attorney

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Loan Forensic Attorney is the leading provider of Forensic Loan Audit Solutions. Since 2004 LFA has performed countless compliance reviews for leading mortgage institutions. LFA provides automated reviews of loans for compliance with over 335 Federal, State, and local consumer protection laws related to mortgage lending. Compliance rules are maintained by in-house attorneys and approved by nationally recognized outside counsel. Electronic loan data is submitted to LFA’s audit software and a response file with Pass/Fail/Warning results and analysis is returned in under 5 seconds.

CONSUMER CREDIT REGULATORY COMPLIANCE : 

CONSUMER CREDIT REGULATORY COMPLIANCE

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How Large is the market for Loan work outs? Leading lenders completed nearly 290,000 loan modifications in Q3 2008 OCC/OTS reviewed combined servicing portfolios of institutions representing more than 60% of all mortgages outstanding.* 16% increase over Q2 2008 suggests an annualized run-rate of nearly 2.0 million loan modifications per year 8.3 Million U.S mortgages or 20% of all mortgaged properties were in negative equity position There are an additional 2.2 million mortgages within 5% of being in a negative equity position Negative equity and near negative equity mortgages combined account for 10.5 million potential loan modifications.

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How wide spread is the consumer protection regulatory risk? FDIC report reveals institutions do not comply with the most basic federal laws* 83% of the institutions examined were sited for “significant” compliance violations 43% of those institutions were “repeat” offenders 85% of those repeat offenders were highly rated by the FDIC for their in-place compliance processes Subprime related cases filed exceeds the total handled by the RTC over the multi year S&L period 43% are borrower class actions related to consumer protection laws Each of the top Subprime lenders for 2006 is named at least one borrower class action

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Public data is consistent with the findings of our Borrowers, attorneys and loan modification clients 42% FAIL 39% PASS 19% WARNING

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Identifying violations is critical to diligently representing troubled borrowers. Consumer protection violations subject lenders, investors and servicers to civil and criminal fines, penalties and damages In many instances, any holder in due course of a mortgage loan (“assignees”) can be liable for violations committed by the originating lender or broker Servicers can be liable for failing to respond to qualified borrower requests Borrower remedies can include: Rescission Defense to foreclosure Refund of interest and/or fees Civil Damages TILA, RESPA and other Federal and state laws provide for recovery of attorneys’ fees

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USING LFA TO IDENTIFY VIOLATIONS

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LFA provides its clients two primary services: Forensic Audit Review We provide you an expert Manual Forensic review of your loan documents Forensic Audit Report After our experts perform the manual review and have entered the information into our Patented Forensic Software, we provide you a fully written report of the findings

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LFA’s mortgage regulatory audit software includes the following features: 335 Federal, state & local mortgage related laws and regulations in under five (5) seconds Decisioning rules are maintained by in-house consumer attorneys audited by nationally recognized outside counsel Regular updates and enhancements per changes to law Accessible via web-based user interface or intergration into internal systems Powerful, flexible reporting veiwable in HTML and PDF formats

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1. You send us your loan file…. (Loan Documents) 2. …. We Perform the Forensic Review…. 3. …. We Produce a detailed report identifying regulatory violations

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PLEASE CONTACT US FOR MORE INFORMATION 866-960-2007 FORENSICS@ELITELOANMODIFICATIONS.COM

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