How to Become a Certified Forensic Mortgage Auditor
Certified forensic mortgage auditors help real estate attorneys research and analyze loan documents as part of the loan negotiation modification process with lenders. Applicable loan documents include mortgage demand letters, securitization audits and letters to temporarily stop the sale of a home. The U.S. Bureau of Labor Statistics predicted that job growth for auditors with a professional certification would be favorable through 2018.
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Instructions
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Enroll in a certified forensic loan auditor training program. Certified Forensic Loan Auditors LLC provides a 32 hour in-class certification training program at locations across the United States; The company bills itself as “the nation’s first and only recognized certified forensic loan auditor training class.” Candidates complete the training over a four-day period.
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Complete the required training courses. Course topics include coverage of laws such as the Truth in Lending Act, the Real Estate Settlement Procedures Act, the Home Ownership Equity Protection Act, the Fair Debt Collection Practices Act and other relevant federal and state statutes. You also learn about underwriting methodologies and standards, principles of law, calculation of the annual percentage rate of change, foreclosure defense, loan transactions, broker licensing and predatory loans.
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Achieve a passing score on the final certification examination. You must also pass a criminal record check and background check to practice as a certified professional forensic mortgage auditor.
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Tips & Warnings
Review the sample loan document templates on the Certified Forensic Loan Auditors LLC website as part of preparation for the final examination.
Once certified, you are expected to abide by a professional code of ethics.
The program is not affiliated with any state or federal governments.
