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Posted by Jeff Payne on June 22, 2011 at 5:11am in Short Sale Discussions

Got a call from someone saying that they can save me $2000 by auditing my mortgage.

Do they have to comply with the MARS disclosure rules to mortgage audits? Can they charge an upfront fee?

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Jeff Payne August 1, 2011 at 8:55am

I don't know, I dont need their services, just curious if they can charge an upfront fee. Funny part is that my mortgage will be paid off this year, why in the world would they call me?

Garrett McCargar said:
Were they offering a forensic audit or securitization audit?
storm bradford August 1, 2011 at 8:50am

Run, don't walk away, a total scam!!
Bryant Tutas June 25, 2011 at 11:27pm

I'm going to place this in the newsletter today to see what kind of responses we can get.
Neddie B. June 24, 2011 at 5:46am

I know that attorneys don't have to comply with MARS so perhaps it applies to other professions, of course it definitely applies to us RE agents.
Wendy Rulnick June 23, 2011 at 12:48pm

Jeff - I would think they have to comply. I wonder if it was another mortgage broker trying to get you to switch mortgages, using a bait-and-switch?
storm bradford June 23, 2011 at 4:12am

Mortgage Fraud Examiners exposed this problem of bogus forensic loan audits over two years ago in a press release: "Beware of the Latest Foreclosure Rescue Scam—“Forensic Loan Audits." http://www.prurgent.com/2011-04-21/pressrelease165977.htm

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