About Me

Over the past 9 years I have originated, processed and audited over one thousand residential mortgages.  I am now using my knowledge and experience to assist distressed homeowners facing foreclosure. Most loans originated in the past few years contain numerous state and federal compliance violations and are in breach of the RESPA and TILA. Moreover, most foreclosure filings can be successfully challenged because of defective mortgage assignments, improper or missing endorsements  and fraudulent documentation that a forensic audit can often reveal.

Upon discovery of a TILA violation you may have the right to rescind your loan and receive a refund of all fees and interest payments you have made since consummation of the loan.  However,  in most instances, to facilitate rescission you will be required to return to the lender the principal amount of the loan advanced to you, and this is often difficult to do if you cannot obtain new financing. Therefore, even if you can rescind, rescission by itself will not be of much help if your goal is to negotiate an affordable payment and to stay in your home. As such, you need a thorough analysis of your loan documents to discover every possible violation and to build a strong case for litigation.

In addition to auditing your loan documents for TILA and RESPA violations I also look for signs of predatory lending practices, fraud, misrepresentation and deception. Did the lender properly underwrite the loan to make sure it was affordable? Was the appraisal inflated? Did they explain the impact of yield Spread Premium on the overall cost of your loan? Was the broker properly licensed? Did you truly benefit from the loan? Was there fraud in the inducement? Did the lender violate your state’s consumer protection laws? Were you overcharged for title insurance? Were you given all the required disclosures at closing?

Another question to ask is if your loan has been sold to a trust for securitization. I look to see if the mortgage and note were legally transferred to the trust within the time limits prescribed by the trust agreement or PSA (pooling and servicing agreement). Was MERS named as the lender’s nominee on the deed of trust? Was there an assignment of the mortgage by MERS to the purported secured party who is now attempting to foreclose? Was the promissory note properly indorsed prior to the initiation of foreclosure? This is a highly technical process which is extremely time consuming but indispensable  for an effective foreclosure defense strategy.

Please fee free to contact me to discuss your case.

None of the statements or comments on this site should be construed as legal advice.

 

Dean Mostofi

800-564-2764

www.nationalloanaudits.com

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12 Responses to “About Me”

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Mr. Mostofi,

Your informative article on predatory loan practices applies to my current situation. Can you tell me exactly where I would go to file a pro-se TILA Rescission motion?

I’m not sure I can handle this by myself. Would you know of anyone in my area who could help me prepare the motion properly? I can pay a fair fee for the work and take it to the office in question myself.

I live in Jackson, Ocean County, New Jersey. IndyMac Bank ‘flipped’ my loan and the personal audit you have now helped me do indicates there are several TILA violations involved. I have received the bank’s letter of intent to foreclose.

I appreciate the help you’ve already given.

Sincerely,
Victoria
aka previously middle class, now working poor, soon to be living in my car

Dear Mr. Mostofi,

I have been dealing (for over 5 months) with a short sale offer submitted to Chevy Chase bank. They continue to “loose” the offer and have not even done an appraisal on the property. Now, I would like to request the loan documents from the bank to find out what they have or don’t have. What is the time period that they have to respond? If you do an audit, does the price include a follow up letter to the bank initiating any litigation?

How can I help? I am a licensed broker/owner of a real estate company in Kansas, Missouri and working on Colorado as well. I too use my past knoweldge and investing experience to help homeowners in default. There are soooo many violations I see in just about every case – I dont know where to start… Perhaps we can start a national network to process some of these and help more. In full disclosure – I am also still investing – and often buy homes from individuals needing the help who will not benefit from a traditional sale or other “loss mitigation” efforts like loan modification or deferments. I sell a lot of REO homes as the local broker and see a lot of fraud from the begining thru the end… a lot of homeowners are getting locked out prior to redemption rights having expired and without court orders… in some states – OK – in ones like Kansas – its just wrong and lenders can get in a lot of trouble – especially those field services people, locksmiths and other agents/brokers who should know better…

Anyhow – if there is anything we can put together on a national scale that I can help with – please let me know. I’d be honored to help anyone you know in my areas of expertise.

Mr. Mostofi,

My servicer is IndyMac bank and they purchased the loan about 2 servicers removed from the original lender. What is the best method of determining if your loan has been securitized?

You can start by asking Indymac who owns your loan. Who was the original funder of your loan? What type of loan is it?

Mr. Dean Mostofi, Our loan was sold to Fannie Mae from the onset, as we can tell. We were turned down for a modification and have been trying to sell, but have had no help or assistance from our credit union, which plays the manager of the loan. We’ve lost two potential sales because of delays and are lost as to any options available. Any opinions? Thanks.

Please feel free to call me at 800-564-2764

You posted a case:
MARLA LYNN SWANSON, Plaintiff, vs. EMC MORTGAGE CORPORATION, et al., Defendants.
————————
Was their any reason you posted that particular case?

I read it:
The plantiff LOST.
In my view that is
deplorable with
MERS on the DOT
and the recent decisions
around the nation in
many states now indicating
MERS OBVIOUS LACK OF STANDING.

So why this case?

Because I want attorneys to know and learn what not to do. In this case the pleading lacked substance, which is why the borrower lost. It is not enough to merely allege fraud or negligence without stating the facts that contain all the required elements for establishing a cause of action. We need skilled advocates who know how to articulate and argue a winning case. That is why I posted this case.

And as far as MERS’ lack of standing, it was not argued skillfully, so naturally the judge ruled for MERS. I am amazed at how primitive and unsophisticated these attorneys appear to be, and how deficient their pleadings are most of the time.

Dean

I like your web page…Currently hoping to make my way through discovery. No word the Judge. If so, I may need to contact you. How long to conduct an Audit ? How much ect ? I am fight ing Wells Fargo who seciritized the loan and US Bank who is the servicer…So far no good rulings in Arizona…It is depressing.

By the way, who trained you to audit loans ?

Bryce Easton

I’ve been online for months looking up information on realestate violations.I’m on disability fro stress so my funds are very linited.I’ve talked to lawyers who say that there is fraud. I have an forenic audit the shows several servere RESPA and TILA violations. also they have violated the UDAP law and others. But as stated here if I can’t pay the loan back there is not much that can be done is what I’m being told But no one has really set down to look at all of my documents.I can’t understand why I should have to be able to pay them back if they committed the fraud or their representives did.But this is the best site that I ran across with everything in the one place. Thanks so much. Wish I had found you sooner it would have saved me alot of stress.


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