This "company" has changed names and ways to RIP YOU OFF more times than most other fraudsters... Credit Counseling, Mass Joinder Lawsuits, Loan Mods, Short Sales, Audits, etc... The same perps are ruining it for those of us who have ethics, morals, LICENSES, and character...
Beware of document collection corp!!! Fraud warning regarding forensic loan audits
I. FORENSIC LOAN AUDITS (and Claims Regarding Their Use to Avoid Foreclosure and to Modify Home Loans).
The California Department of Real Estate ("DRE" or "Department") previously issued a detailed consumer alert and fraud warning on loan modification and foreclosure rescue scams in California. The department continues to administratively prosecute those who engage in such fraud and to work in collaboration with criminal law enforcement authorities to bring such frauds to justice.
On October 11, Senate Bill 94 was signed by the Governor, and it became effective that day. It prohibits any person, including real estate licensees and attorneys, from charging, claiming, demanding, collecting or receiving an upfront fee from a homeowner borrower in connection with a promise to modify the borrowers residential loan or some other form of mortgage loan forbearance.
Senate Bill 94s prohibitions seem to have significantly slowed the rampant fraud that was occurring and escalating with respect to the payment of upfront fees for foreclosure rescue and loan modification work.
But those who prey on vulnerable homeowners have not given up. They just change their tactics and modify their sales pitches to keep taking advantage of those who are desperate to save their homes.
This alert and warning is issued to call to your attention the often overblown and exaggerated "sales pitch (es)" regarding the supposed value of questionable Forensic Loan Audits. It is critical to note that a loan audit (audit report) has absolutely no value as a stand-alone document.
Whether they call themselves Forensic Loan Auditors, Certified Forensic Loan Auditors (there are no such certifications in the State of California), Mortgage Loan Auditors, Forensic Attorney-Backed Foreclosure Prevention Auditors, or some other official, important or lofty sounding title (s), there are thousands of individuals and companies that have popped up and appeared all over the State of California. Most of these individuals and companies are unlicensed, and some were previously engaged in illegal foreclosure rescue and loan modification scams.
The DRE has seen a wide variety of claims and sales pitches, where impressive sounding loan review services are offered with the goal of taking your money.
Quite simply, the bad players market hope and all too often, it is false hope.
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