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Bob Hurt and Richard Kahn engage in dialogue about value of Kahns securitization audit to Matulka v. M&T Bank (foreclosure case). The judge tossed Matulkas audit report, saying the report borders on impertinence, it has no legal significance See why Kahn thinks the court opinion doesnt diminish the value of his work. See why Hurt believes securitization audits are ultimately worthless, and that only a comprehensive mortgage fraud examination will find the VAMPIRE in your mortgage.
ABSTRACT
Bob Hurt
Mortgage-related Audit/Exam
http://www.scribd.com/doc/172350719/Find-the-Vampire-in-Your-Mortgage-Heed-Matulka (this article) http://www.scribd.com/doc/172349825/Find-the-Vampire-in-Your-Mortgage-Heed-Matulka (portfolio article with case documents) http://www.scribd.com/doc/171808087/Matulka-v-M-and-T-Bank-Complaint-Motion-to-StrikeOrder-ned-8-12-cv-00237-0 (portfolio of case documents)
Introduction
Securitization auditor and expert witness Richard Kahn responds to my scribd.com posting of the Matulka v. M&T Bank opinion in which the judge expressed utter disdain for the audits (including Richards work) appended to the complaint. In that case a foreclosure victims estate and a relative attempted to stave off a foreclosure, and submitted the audit reports in an effort to convince the court that it should not allow the foreclosure. Richard responded with a phone call and some emails. We had a nice chat, and I said I would provide his elucidation as a preface to the case documents. Our discussion thread follows.
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Asset Ombudsman Program, International Environmental Association, 501(c)3, Senior ombudsman, Certified forensic auditor by National Association of Mortgage Underwriters, Associate of Global Association of Risk Professionals, and the author of Stop! Illegal Predatory Lending. The Court is unfamiliar with these organizations (if they exist), but it is quite confident that there is no such thing as a Certified Forensic Loan Audit or a certified forensic auditor. In any event, the documents make no more sense than anything else in the Debtors papers and confirm the empty gimmickery of these types of claims. In re Norwood, No. 1084443PWB, 2010 WL 4642447, at *2 n.2 (Bankr. N.D. Ga. Oct. 25, 2010) (observing that the Federal Trade Commission has issued a Consumer Alert regarding Forensic Mortgage Loan Audit Scams). --------
case, then having a champion borrower's can look to as an expert get smeared in the process helps no one. Expert's are like mechanics, they do a job and do it well enough to be able to sustain it against all inquiries. What the person(s) that hire them do with the work has nothing to do with the mechanic. If they wreck it, sell it for more, win an auction or whatever, all the expert did was do the work and can testify, verify and sustain the work. An expert is only one leg of the chair, and a relatively minor one at that compared with the litigating leg. That's the example we see with this Matulka case. Kahn's credentials are impeccable. Expert's aren't advocates and don't try cases or provide legal advice. If you don't have a strategy to win and aren't able to do so even with a strategy, don't waste your time or money on hiring an expert because it won't overcome poor litigating strategy, no standing and submission of a witness that tanks your case in a big way. I provided an investigation to a party who turned out not to be party to the mortgage. The case was dismissed. The borrowers had introduced an audit by a party claiming to be expert which was completely undermined. Then my audit work was introduced after the fact and as expected, the opposing counsel law firm used language to denounce the expert and evidence. Words like "impertinent and scandalous" are expected phrases from opposing counsel whose first line of defense is to disable the evidence and expert. This case never got to testimony. I denounce any relationship to the Certified Forensic Loan Audit (CFLA)or D. Alex-Saunders whose claims of expertise and experience are unfounded and were completely undermined. I can't take responsibility for someone I have no clue about and upon whose report and expertise "tanked the case". The Norwood case you refer to and the Consumer Alert regarding TILA rescission audits, a/k/a Forensic Mortgage Loan Audits such as those CFLA are notorious for having provided irresponsibly. I did not provide that type of TILA audit and rarely find a case that warrants that type of investigation. I applaud your exposing what I also expose and testify against in addition to my work for borrowers, scam bogus audit expert. Please view my web site for detailed information. I appreciate your posting this rebuttal. I'm a nationally acclaimed expert in good standing. Thank you in advance. Keep up the good work! :)
The mortgage victim who competently attacks the lender for these causes of action in a settlement negotiation or lawsuit typically wins significant concessions from the lender. That means the victim can obtain some combination of a cram-down of the loan balance to the present value of the house (or lower), monetary damage award, legal fees and court costs paid by the lender, or the house free and clear. Full damage and legal fee awards can require a lengthy, expensive litigation that virtually always succeeds. For that reason, lenders usually settle without requiring a single day in court. But, the foreclosure victim who uses a securitization audit to stop the foreclosure nearly always fails, and loses the house. I have documented numerous cases as proof here:
http://www.scribd.com/doc/147191991/Neil-Garfield-Expert-or-Bozo
People considering a securitization audit should recognize the Matulka courts opinion as TYPICAL, not anomalous. More than one court has cited the Norwood dictum that securitization and loan audits are empty gimmickery, and referred to this:
there is no evidence that forensic loan audits will help you get a loan modification or any other foreclosure relief, even if theyre conducted by a licensed, legitimate and trained auditor, mortgage professional or lawyer. some federal laws allow you to sue your lender based on errors in your loan documents. But even if you sue and win, your lender is not required to modify your loan simply to make your payments more affordable. if you cancel your loan, you will have to return the borrowed money, which may result in you losing your home.
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If you are in default on your mortgage or facing foreclosure, you may be targeted by a foreclosure rescue scam. The FTC wants you to know how to recognize the telltale signs and report them. If you are faced with foreclosure, the FTC says legitimate options are available to help you save your home.
Spotting a Scam
If youre looking for foreclosure prevention help, avoid any business that:
guarantees to stop the foreclosure process no matter what your circumstances are instructs you not to contact your lender, lawyer or credit or housing counselor collects a fee before providing any services accepts payment only by cashiers check or wire transfer encourages you to lease your home so you can buy it back over time recommends that you make your mortgage payments directly to it, rather than your lender urges you to transfer your property deed or title to it offers to buy your house for cash at a fixed price that is inappropriate for the housing market pressures you to sign papers you havent had a chance to read thoroughly or that you dont understand.
Reporting Fraud
If you think youve been dealing with a foreclosure fraudster, contact:
Federal Trade Commission www.ftc.gov Your state Attorney General www.naag.org Your local Better Business Bureau www.bbb.org
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This article was previously available as Forensic Mortgage Loan Audit Scams: A New Twist on Foreclosure Rescue Fraud. Tagged with: foreclosure, loan, mortgage, scam
Conclusion Call Bob Hurt NOW to Find the Vampire in Your Mortgage
According to industry experts, 90% of US home owners who obtained a home mortgage loan in the past 10 to 15 years suffered an injury by the lender or lenders agents one or more tortious acts, contract breaches, or legal errors. A comprehensive mortgage examination by a competent professional will prove these causes of action, and provide the basis for negotiating a settlement with or suing the lender or lenders agents. This will make the foreclosure go away like sunshine chases away a vampire. And the mortgagor could end up with the house free and clear and a wad of money.
I'll explain all about it FREE. Just call me at 727 669 5511. See more commentaries at http://lixe.org
Bob Hurt Blog 1 2 3 f t 2460 Persian Drive #70 Clearwater, FL 33763 Email; Call: (727) 669-5511 Law Studies: Donate Subscribe Learn to Litigate with Jurisdictionary
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