US Court Audit™

National Loan Auditors, the leading provider of comprehensive forensic loan audits for the attorney-based loan modification industry, has created US Court Audit™ — a specialty product designed for the bankruptcy courts, serving the specific needs of bankruptcy and debtors counsel, trustees and Judges.

The anticipated approval of legislation authorizing bankruptcy Judges to modify residential mortgages in Chapter 13 proceedings will bring myriad challenges for the bankruptcy courts, along with a projected increase of 40 percent or more in bankruptcy filings expected in 2009. US Court Audit™ has been designed to meet these challenges head-on.

Built around our cutting edge Forensic Loan Audit Plus™, which is known for its accuracy and objectivity, US Court Audit™ delivers a comprehensive analysis of mortgage loans, focusing on legal compliance issues and origination procedures and scrutinizing the actions of borrowers and lenders. The audit identifies violations of federal, state, and county regulations and uncovers any evidence of fraud, misrepresentation or other misconduct that occured in the underwriting or origination process.

To this robust legal compliance platform, the audit adds verifications of the borrower’s identity, Social Security number, income and employment, along with the most advanced property valuation module available, featuring a sophisticated price matrix (with low-middle and high-end estimates) and an analysis of the neighborhood characteristics affecting those estimates. The audit results are presented in a detailed, fully documented report that can be between 65 and 95 pages in length, with the most relevant case information highlighted in a concise, easy-to-read two-page cover summary.

The audit makes otherwise opaque transactions transparent so that all parties - attorneys, trustees and judges - can readily understand the structure of the loans and the behavior (or misbehaviors) of the lenders and consumers involved. Because the analysis is 100 percent objective, focusing equally on both sides of the transaction, the audit has unsurpassed credibility with lenders and borrowers, giving trustees a powerful tool they can use to encourage opposing parties to negotiate a resolution or new loan modification terms before presenting their case to a judge.

The most advanced analytical tool of its kind, US Court Audit™ will soon become an integral part of the bankruptcy settlement process, helping attorneys, trustees and Judges manage a growing case load and ensuring their ability to provide the expedited, equitable decisions that borrowers and lenders will demand.