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| Certified Forensic Loan Auditors CFLA False Securitization Reports - they're just a report mill Los Angeles, San Diego, Orlando, Nationwide, Nationwid |
| 5th of Nov, 2011 by User321874 |
| I have a mortgage background and am no dummy, but I still lost $1000 to a Securitization Audit that a 3rd party company ordered from Certified Forensic Loan Auditors – aka CFLA? I probably would have never known that their report was useless if a friend of a friend didn’t happen to look at it. He explained some interesting things to me about CFLA so I wanted to make sure that people know what they’re getting from a CFLA or any of their “affiliates†for that matter. I did a lot of my own research and found everything he described to be true. So as you can imagine, I’m a little ticked off. 1. CFLA offers a 2 days “Certified†Training Course. Certified by who exactly? It turns out, they certified themselves. There is no legislative body that licenses or certifies any person or company involved in securitization audits. CFLA also claim to be the “only certified securitization auditor training course.†Again, congrats on giving yourself a bogus certificate but it obviously means nothing if the data if my report is worthless. 2. If you search for it, you’ll easily find that they advertise their 2 day training courses all over the country. People with absolutely no experience in securitization attend these classes and after 2 days of training, they’re also “Certified Securitization Auditors.†Let me repeat: people with 2 days of experience are starting their own businesses and selling these reports as “experts.†3.Don’t take my word for it. Go to the CFLA website (http://www.certifiedforensicloanauditors.com/) and see a sample of their Securitization Report. Then, search the internet for “securitization audit samples†or “securitization report samples†- you will be amazed at how many reports look exactly like the CFLA report. In other words, that “company†took the 2 day certified class and immediately began to sell reports using the template that CFLA gave them. Sure, some of the fancy colors may have changed but c’mon, I’m not blind. When I saw a ton of variations of my report online, It made me feel like they’re just a report mill, trying to sell as many as they can while content isn’t all that important. Isn’t that how I got screwed by the banks in the first place? 4.The most important information in a securitization report is the identification of the Trust that supposedly bought your loan. Read the CFLA disclaimer on the last page carefully – they GUESS the name of the Trust and claim no responsibility if the guess is wrong. CFLA calls their choice of the Trust an “expert opinion†but this is a matter of fact, not opinion. You should be given proof that the loan was sold. 5. How did I verify this for myself? I paid another company $700 to redo my report. The new report proved that CFLA’s “expert opinion†was completely wrong – I was given a long list of the mortgages owned by the newly named Trust and mine was highlighted clearly on the list. I asked the guy who I bought the CFLA report from if he was given that list of mortgages owned by the Trust? He told me that CFLA can offer that same service but only with their most expensive report. If I paid $1000 and didn’t get that information, how much more would I have had to pay to get the actual facts? I don’t even understand why you would offer a cheaper report that has someone’s crazy guess when you clearly have a way to verify the facts and provide proof? I might have even paid for it. $1500 for a report that helps me is still better than $1000 for a piece of crap. Mind you, I paid $700 to the other company and got exactly what I needed. You get the point. I don’t want to waste my day typing or yours reading my post. BUT - I would avoid any company that claims to be “Certified Securitization Auditors.†And ask to make sure that your report will have proof of your loan in the Trust. You should get a list like I did and you should be able to easily identify your loan. Also, ask for a sample of their report and if it looks like the sample on CFLA, I’d be worried. Like I said, don’t take my word for it, do your own digging. Just remember, if it looks like a duck and quacks like a duck… |
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| COMPETITOR TRYING TO DAMAGE EXCELLENT REPUTATION OF CFLA~ |
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CFLA is NationalLy recognized as the "Industry Leading Experts, " see BBB Rating. Clearly CFLA is looking forward and not back at the "Copy Cats" and/or "Industry Competitors" that are trying hard to compete with CFLA.
Reasons why no other company can compete meaningfully with CFLA:
(1) CFLA has trained and Certified more than 500 executive professionals
(2) CFLA employs more than 150 Independent Contractors nationwide
(3) CFLA utilizes "proprietary" software programs that search and find loan data un like that which would be available on the marketplace.
(4) CFLA employees and staff are the most highly competent, well educated, and well respected professionals in the industry
(5) All of the Industries leading experts are employed by CFLA, if you think you are one of the industry leaders call us today and you have a job!
(6) CFLA's price points on files are far lower than would be possible for a small outfit given the high prices for the software and labor required.
(7) CFLA produces more than 1, 000 reports per month. |
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