General
rules of thumb when determining if a property is eligible for a
forensic or securitization audit:
Forensic:
-
If the borrower is "primary" resident of property AND is in default, or
financial distress, or upside down, or refinanced in the last 3 years.
Note: Non-primary
residence properties can
be included for appraisal fraud, application fraud,
collection violations, and other fraud.
Securitization:
- If the
servicer of the loan is not the same as the note issuer
- The
investor (if known) is not the governement (i.e., Fannie Mae or Freddie
Mac)
Securitization
Gov't Check: It
is suggested you check all properties at the 2 links below. If the
property in question is listed, then the loan was not securitized into
a private label trust, and you should probably not order a securitization audit
for this client because the report will be a no-trust report. However,
a robo signing check and chain of title review will still be completed,
so it is your choice.
A
forensic audit can still be ordered.
https://ww3.freddiemac.com/corporate/
http://www.fanniemae.com/loanlookup
