A recent survey conducted by Kessler International disclosed that hundreds of companies have emerged from the woodwork recently who offer, "Forensic Loan Audits" for ridiculously low rates, sometimes as low as $89.00. A "Forensic Loan Audit" is typically defined by these companies as a forensic audit of the documents surrounding a homeowner's mortgage, and it is touted as a way to identify violations in the documents and assist in obtaining loan modifications for cash-strapped struggling homeowners.

A brief search on the Internet reveals hundreds of companies ready to assist "distressed homeowners facing disclosure" and "uncover lender violations that could lead to a successful loan modification" Some even tout bank naemes like Countrywide, Chase, Citi, Wells Fargo HSBC and US Bank on their website. The unfortunate reality is that these companies are offering false hope and a handful of straws for those who cannot afford their mortgage payments to grasp at. Many have also been noted to offer "Mortgage Fraud Investigation" services, although they are clearly not licensed as private investigators, nor could we determine how this would help the average borrower. Additionally, the document review services and advice that are being offered tread dangerously close to attorney territory, and many of these companies appear to also be offering legal advice they are not licensed and ill-equipped to offer.

Finally, the majorities of these predatory companies are not certified public accountants or certified forensic accountants, and are utterly unqualified opportunists willing to perform these services to gain a quick buck from a consumer in need. It would appear that a demand for assistance for desperate homeowners seeking increasingly popular home loan modifications was seen in the market by many of the former mortgage brokers that got the borrowers into their current situation in the first place.

In a recession, questionable and rapacious companies come forth to address desperation as it surfaces. As in anything, you get what you pay for, and it would appear that these audits are not a qualified tool for finding the errors in your mortgage documentation, keeping your home, and eliminating debt as so many of them would have homeowners believe.

For over 22 years, Kessler International has been a world leader specializing in forensic accounting performed by certified forensic auditors and licensed private investigations. Established in 1988, its diverse staff includes former prosecutors, former law enforcement agents, attorneys, certified forensic accountants, certified fraud examiners, certified forensic computer engineers, CPAs, certified internal controls auditors, licensed investigators and researchers.

For more information visit Kessler International's website at www.investigation.com or call (212) 286-9100.

Michael G. Kessler
President and CEO
Kessler International
New York, NY
212-286-9100
212-730-2433