Real Estate Document Examiner
Ph: (925)522-0371 Fax: (925) 265-2256
email: patrick@loanmodificationca.com
Loan Fraud Investigations
Loan Fraud Detective
Free Examination of Paid Off Loans
For California Properties
(First Mortgage Only)
For assistance in completing this form, call 925-522-0371
Please have the required documents available
1. What was the date in which you originated this loan? (Date On Note)
2. From the final closing statement what was the date you paid off this loan?
3. From the pay off statement, or final closing statement; enter the loan balance (unpaid principle)
4. From the pay off statement, or final closing statement enter the per diem interest (interest as a daily rate) %
5. From the last monthly mortgage statement enter the interest rate in effect at time of closing %
6. From the pay off statement, or final closing statement enter the number of days accrued interest
7. From the pay off statement, or final closing statement enter the amount of prepayment penalty $
8. From the Promissory Note, or Adjustable Rate Note, enter the original amount of the note (loan amount) $
9. If this loan was an adjustable rate loan, enter the start rate indicated on the Adjustable Rate Rider %
10. If this loan was an adjustable rate loan, enter the Margin percent from the Adjustable Rate Rider %
11. If this loan was an adjustable rate loan, enter the name of the Index from the Adjustable Rate Rider
12. If this loan was an adjustable rate loan, how often did this loan adjust (Monthly, Every 6 Months, Annually)
13. Was this loan an Option Arm (Pick-a-Pay) loan?
14. What was the name of the lender you paid off?
Prepayment Penalty
Review your "Prepayment Rider," the following language, or a similarity thereof, should be noted:
"If within the first THIRTY-SIX months after the execution of this Note, I make prepayment(s), the total of which exceeds twenty (20) percent of the original Principal amount of the Note, I agree to pay a Prepayment Penalty in an amount equal to the payment of six (6) months' advance interest on the amount by which the total of my prepayment(s) during the twelve (12) month period immediately preceding the date of the prepayment exceeds twenty (20) percent of the original Principal amount of this Note. Interest will be calculated using the rate in effect at the time of prepayment."
We know this sounds confusing but it basically means that if you pay off the loan, you will pay a prepayment penalty of 80% of six months interest.
Does your Prepayment Rider reflect similar language?
No (if no, please enter the language used in the text box below)
Thank you for completing this questionnaire. Please allow 24-48 hours for our examination results which we will email to you. Now, sit back and keep your fingers crossed because lots of folks just like you are in for a nice surprise. Now click the "Submit" button below and lets see what luck returns us.
