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Over the last several years, mortgage fraud has been a term we have all heard a lot of.  Many times, this has been in reference to mortgage brokers or other real estate professionals.  What we haven’t heard enough of is how huge amounts of mortgage fraud has been committed by the banks themselves.

Predatory lenders, such as Bank of America, JP Morgan Chase Bank and GMAC have admitted that they have committed mortgage fraud, and that these abuses were happening on an institutionalized level.  This led to the suspension of foreclosure proceedings in 23 states where judicial review was required on all foreclosures.  Little did anyone suspect, however, that this was just the tip of the iceberg of the widespread mortgage fraud that these predatory lenders were engaging in.

As it turns out, banks were engaging in criminal misconduct such as illegal foreclosures, forging foreclosure documents, and engaging in mortgage fraud through the use of “robo signers” who would sign off on documents without any examination at all, and often times lying that they were bank officials.  This is a clear cut example of a predator preying on the unsuspecting homeowner, and illustrates how these banks were operating not so much as lenders, but as mortgage fraud factories.

The complete breakdown of the securitization process, and the blatant disregard of the regulations that govern the process of securitization has caused many foreclosures that these predatory lenders are engaging in to be fraudulent.  Many homeowners just go along and blindly talk to their lender seeking help, because their bank would not want to see a home go into foreclosure right?  Wrong! The banks have been engaging in so much mortgage fraud that they have absolutely no incentive to help homeowners at all.

If you are facing foreclosure, and suspect that you could be the victim of Bank of America, GMAC, JP Morgan Chase or another predator preying on you, you may want to consider a securitization audit.

A securitization audit will examine your mortgage documents and determine if your loan has been securitized, and if the predatory lender attempting to foreclose on your home actually has a legal right to do so.  If you are suing your lender for wrongful foreclosure or mortgage fraud, a securitization audit can be a very important piece of evidence in your case.

Over 85% of home loans approved in the last 10 years have gone through the securitization process.  It has not been determined what the percentage of those that have been securitized incorrectly is, but seeing as how every day these predatory lenders seem to be having more and more of their criminal activity exposed, this number could turn out to be an incredibly large percentage.  Even if you are current on your mortgage, a securitization audit can determine if your home has been properly securitized so once you are finished paying off your loan, you won’t run into any problems clearing the title.

Tila Solutions specializes in detailed securitization audits for homeowners in need.  A Tila Solutions Consultant is available for people by telephone at (702) 508-0335.  Or you can visit the Tila Solutions website at predator preying.  They will help. They are not funded by the governments or the lenders. They are on the homeowners’ side.