Forensic Lender Services is in a position to provide the following products and services:

• Workout Strategy

Assist mortgage servicers and lenders who do not have the resources in the local market to work with their mortgage customers in need and lack the ability to immediately assess their borrowers’ current financial position.  This would include customer counseling and finding alternatives to foreclosure.

• “Scratch and Dent” Services

If needed, assist the lenders holding unwanted loans on their warehouse lines of credit.  These lenders are incurring losses and have inherent interest rate risk until sold.  We will evaluate the loan to determine if the loan can be sold as a “scratch & dent”, thereby getting the loan off the books of the lender.  FLS can assist the lender in any negotiation and delivery of the loan to a 3rd party.

• Compliance

Government agencies continue to have compliance concerns with legal documents which have suspicious signs of consumer or lender fraud.  All documents will be examined for regulatory compliance and the lender will be advised of any non-compliance.

• Borrower Counseling Services

We will conduct interviews with the borrowers to assess their current financial situation.  The borrowers will be advised of prudent measures they may take to avoid foreclosure.  This also may result in a recommendation, to the lender, an alternative solution to foreclosure.  A prime example would be a potential loan term modification and/or repayment structuring.  A repayment plan would consist of a partial repayment plan for any payments in arrears and an extension of loan terms for the remaining payments.

• Fraud Investigation

Files can be reviewed for potential fraud practices/trends by an individual Broker or Correspondent.  This evaluation would achieve the result that the lenders take action, to require buy back of the loans or making the loans whole, thereby avoiding any further losses to the lender.

• Lender staff counseling

Lender’s internal staff can be counseled to recognize the signs of potential mortgage fraud and/or non-qualification of the borrower for the program selected.

• Management Report and Summary

FLS will provide senior management a comprehensive report and summary of the loan’s current status that will assist senior management with loan loss recovery and minimize any loan losses.
Forensic Lender Service’s customer base will consist of servicers without a local presence, lenders with loans on their lines of credit and lenders lacking the experienced staff to provide alternative and proactive solutions to loan foreclosure.