Home Loan Document Evaluations

We offer a free service, sponsored by HUD, to assist you in evaluating whether or not a home loan offer is in your best interest. For more information, call Springboard Nonprofit at (800) 294-3896.

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Loan Document Review Service

Loan Document Review and Education

A complimentary, in-depth review of your loan documents

HUD Sponsored Initiative

The Loan Document Review service is a HUD initiative to assist borrowers in evaluating whether or not a loan offer is in their best interest. By participating in this complimentary service, a HUD housing specialist will review your loan documents to identify any potential issues or risks and help you to determine if the loan terms are accurate and truthful.

Types of loans that can be reviewed:

Mortgage Refinance
Mortgage for First Time Home-Buyers

How the loan document review session works

The session is a one-on-one review of your loan documents with a HUD housing specialist. The following key documents are reviewed in a diligent, forensic approach:

Good Faith Estimate
Note
Deed of Trust or Mortgage
HUD-1 Settlement Statement

All potential issues and risks are identified. A customized action plan is then developed that gives you education and options in understanding how to proceed with your loan documents.

Call Now for a Loan Document Review Session

(800) 294-3896

or

Schedule a Priority Appointment Online »

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Frequently Asked Questions

Q: What guidelines are used in reviewing my loan documents?
A: Your HUD housing specialist is reviewing your loan documents for Real Estate Settlement Procedures Act (RESPA) violations and compliance with the Truth in Lending Act (TILA) and Home Owner Equity Protection Act (HOEPA).

Q: What potential lending abuse or mortgage fraud issues are you looking for?
A:

Use of inflated appraisals
Encouraging borrowers to falsely inflate their income or the cash they have available for down payment
Knowingly lend more money than a borrower can afford to repay
Charging high interest rates to borrowers based on their race or national origin and not on their credit history, charging fees for unnecessary or nonexistent products and services
Charging excessive points and fees
Pressuring borrowers to accept higher-risk loans such as balloon loans, interest only payments and steep pre-payment penalties.
Targeting vulnerable borrowers to cash-out refinances offers when they know borrowers are in need of cash due to medical, unemployment or debt problems.
"Stripping" homeowners' equity from their homes by convincing them to refinance again and again when there is no benefit to the borrower
Use of high pressure sales tactics to sell home improvements and then finance them at high interest rates,
Forgery
Loan “flipping”
Straw-buyers

Need Help Getting Started?

Talk to a nonprofit, certified mortgage advisor to find and pursue the mortgage relief programs that are right for you:

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Answer the online questionnaire

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Priority counseling session

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Talk to a mortgage advisor now: Call (800) 294-3896