Forensic Loan Audit Sample

1 SAMPLE AUDIT TABLE OF CONTENTS Advisory Letter 3 Introduction 4 Report Summary 5 Summary of Loan Terms 8 Financial & Underwriting Analysis 9 Truth in Lending Act Analysis 11 HOEPA Analysis 13 RESPA Analysis 14 Predatory Indicators 15 Potential Additional Claims Analysis 18  Discrimination  Fraud  Foreign Language Translation  Breach of Contract  Breach of Implied Covenant of Fair Dealing  Breach of Fiduciary Duty  Unjust Enrichment  Unconscionability  Civil Conspiracy  Unfair/Deceptive Business Practices Other Claims & Recommended Legal Research 19 ________________________________________________ - 2 - 2 SAMPLE AUDIT10/8/2010 Law of Office of Mike Man 444 N. Avenue Anytown, IL 60657 Re: Forensic Audit for Mr. and Mrs. Joe Doe st nd Loan # 1 -7184, 2 -71845 & Wells Fargo #8967 Dear Mike Man: 1The loan transaction for the above-referenced borrower/property has been audited for violations of the Truth in Lending Act [15 U.S.C. §1601] (“TILA”), Home Ownership Equity Protection Act [12 C.F.R. 226.32 et seq.] (“HOEPA”), the Real Estate Settlement Procedures Act [12 U.S.C. §2601] (“RESPA”), 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 ...