Seriously... Check this out: http://dealbreaker.com/2010/12/lenn...d-now-im-doing-what-ive-got-to-do/#more-32758
the loan audit said he paid 289,000 broker fee for his loan. wow... The largest residential loan broker fee before that I had seen was 40,000.
Loss Mitigation Professionals Re: Forensic Audit for Mr. and Mrs. Lenny K. Dykstra Loan #: 3018144125-101 Dear Audit Recipient: The loan transaction for the above-referenced borrower/property has been audited 1 for violations of the Truth in Lending Act [16 U.S.C. §1601] (âTILAâ), Home Ownership Equity Protection Act [12 C.F.R. 226.32 et seq.] (âHOEPAâ), California Financial Code §4970 et seq., the Real Estate Settlement Procedures Act [12 U.S.C. §2601] (âRESPAâ), and to the extent applicable, violations of other state and federal laws discussed below. This report was based exclusively on the documentation provided. It also required that we make reasonable assumptions respecting disclosures and certain loan terms that, if erroneous, may result in material differences between our findings and the loanâs actual compliance with applicable regulatory requirements. While we believe that our assumptions provide a reasonable basis for the review results, we make no representations or warranties respecting the appropriateness of our assumptions, the completeness of the information considered, or the accuracy of the findings. The contents of this report are being provided with the understanding that we are not providing legal advice, nor do we have any relationship, contractual or otherwise, with anyone other than the recipient. We do not, in providing this report, accept or assume responsibility for any other purpose. Sincerely, Marla Giddings Senior Certified Forensic Loan Auditor
* âIâm a lightning rod for money; after weâre done talking today when youâre walking to your car youâll probably find 100 bucks.â man I just found an extra $50 in my pocket after reading this article.