While I’ve yet to see any other debt relief company come out clean after attacking the CFPB, it appears that is the approach Certified Forensic Loan Auditors is going to take.
Certified Forensic Loan Auditors was sued by the CFPB. In the suit, the CFPB alleged since at least 2014, Certified Loan Auditors was selling a Securitization Audit to assist consumers with a package “that purport to summarize information about a borrower’s mortgage, mortgage lender, mortgage servicer, and an asset-backed securitization trust that may have acquired the borrower’s mortgage. The Audits are constituted largely of template materials and contain legal conclusions and recommendations.” – Source
Additionally, the CFPB stated the package Certified Forensic Loan Auditors furnished would stop foreclosure, help keep homeowners in their homes, and are a “Complete turn-key lawsuit to sue your lender for damages.”
The CFPB alleged Certified Forensic Loan Auditors was violating Regulation O which covers mortgage relief services. This regulation is directed at those providing mortgage relief services and how fees are collected. The CFPB also added some additional counts covering what they said were abusive acts and practices.
After posting the information sent out by the CFPB, a commenter posted a link to a public statement by Certified Forensic Loan Auditors.
The Certified Forensic Loan Auditors Position
I would be shocked if the Certified Forensic Loan Auditors public response to the lawsuit was written by a professional crisis management firm.
Rather than give a calm assessment of the facts of the case it not only draws some interesting lines in the sand and appears to toss insults at the CFPB.
“So in short, the CFPB is suing CFLA to shut us up so YOU don’t find out about the trillions of money these BANKERS stole from working class americans and they didn’t even have to pay tax on it.??? WOW SOUNDS LIKE SOME ORGANIZED CRIME, Right????”
Some of the highlights from the Certified Forensic Loan Auditors response to the suit include:
- “Certified Forensic Loan Auditors Will Expose the CFPB For Improper Motive Since No Consumers Were Harmed”
- “we will continue to operate as normal providing the Highest Quality & Most Well Respect Bloomberg Securitization Reports in the industry, as well as hosting our Nationally Recognized Mortgage Securitization Analyst Training Certification Classes as scheduled.”
- “CFLA and its Support staff of Attorneys Reasonably believe the CFPB Claims to be completely without merit.”
- “this investigation has absolutely NOTHING TO DO WITH PROTECTING THE CONSUMERS BUT RATHER TO PROTECT THE BANKS FROM FURTHER EXPOSURE.”
- “This lawsuit is nothing more than a Federal Bureau Bullying Campaign on a small business that helps people.”
- “The CFPB and the Banks estimate that these Bloomberg Securitization Audits expose too much truth.”
- “CFPB should be ashamed of itself because it became quite clear their intention once they spoke at length with Andrew Lehman just how much that he knows, including politicians, judges, and other government officials who looted more than 20 Trillion dollars from the US Housing market in 2002-2007 and than blended the losses in State and Federal Employee 401 K retirements to absorb these losses. THE CFPB just wants to shut up ANDREW P LEHMAN, J.D.”
The full Certified Forensic Loan Auditors public response can be read below.
Certified Forensic Loan Auditors Seems to Always Come Out Swinging
In another legal case against Certified Forensic Loan Auditors, the company aggressively fought the suit and prevailed. See the case below.
The suit was dismissed.
So Here is Where We Are Today
The Consumer Financial Protection Bureau feels they are right and Certified Forensic Loan Auditors charged fees for services in violation of Regulation 0.
Certified Forensic Loan Auditors feels they should prevail because there are limited or next to no consumer complaints.
I’m positive this will turn out to be a long and protracted battle in court. In fact, Certified Forensic Loan Auditors says “we anticipate a long court battle that could exceed 12-18 months.” I bet it’s going to be a lot longer.
And while we all wait for a resolution to this fight, attorneys who have linked their name to Certified Forensic Loan Auditors and consumers considering using the services will all be in limbo trying to decide who is right.