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Lighthouse Financial

4325 Aegean Dr, Tampa, Fl 33611

813-938-8230 www.lighthousefinancial.org SRoger@lighthousefinancial.org
Type of Report: Prepared for: Loan ID: Forensic Mortgage Audit Maria Lim Maria Lim - Loan 1 Date Prepared: Prepared by: 4/7/2012 Scarlett S Roger


This report contains the results of a forensic mortgage audit which is a detailed analysis of mortgage documents and disclosures related to a loan that has been funded. The primary objective of this forensic mortgage audit is to determine compliance with applicable federal statutes and regulations governing the residential mortgage industry. The audit is performed to also evaluate the accuracy of lender computations and other information included in those mortgage documents. A forensic mortgage audit can provide numerous benefits to borrowers. It can be a critical tool for mortgage loan modifications, short sale agreement negotiations or foreclosure defense litigation. This report is based on information provided directly by or on behalf of the borrower. Specific analytical tests were used to determine compliance with various federal regulations including the Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Home Ownership and Equity Protection Act (HOEPA) and Regulation Z. These tests included: a) the reverse engineering and calculation of all required TILA disclosure variables; b) a detailed analysis and review of all loan variables and features; c) an assessment of HOEPA and other disclosure requirements; d) analysis and correct computation of the rescission period; and e) a detailed examination of HUD-1 closing costs. A TILA payment schedule was also prepared with a detailed list of loan terms for informational purposes. For all sections, NA indicates that the value, variable or result is not applicable or not available.

Test/Disclosure Annual Percentage Rate Finance Charge HOEPA/Section 32 Rescission Period Demand Feature Variable Rate Prepayment Penalty Balloon Payment Audit Finding Overstated by 0.010% Overstated by $4,482.89 NA Not Required Disclosure Not Required Disclosure Not Required Disclosure Not Required Disclosure Not Required Applicable Law TILA TILA HOEPA TILA RESPA RESPA RESPA RESPA Result PASS PASS NA PASS PASS PASS PASS PASS

Note: If Finance Charge is within allowable tolerances, then APR is considered to be accurate as well.


Total of origination, discount, lender and broker fees plus any yield spread premium: Amount $3,940.00 Percentage of Loan Amount 1.563%


This table show s w hether the variance, if any, betw een the lender's actual disclosed values and the correctly calculated Truth in Lending values exceed the amount allowed by law. Annual Percentage Rate Disclosed: Calculated: Variance: RESULT: 6.657% 6.647% 0.010% PASS Finance Charge $367,205.50 $362,722.61 $4,482.89 PASS Amount Financed $247,518.00 $247,798.50 ($280.50) NA Total of Payments $614,724.00 $614,722.61 $1.39 NA


This table show s w hether any disclosures for certain loan features were provided by the lender as required by law . Note: NA indicates that a specific disclosure w as not required but was provided by the lender. Demand Disclosure Required: Disclosure Provided: RESULT: NO NO PASS Variable Rate NO NO PASS Prepayment NO NO PASS Balloon NO NO PASS

HOEPA (Home Owner and Equity Protection Act)

This table show s w hether any disclosures for certain "High-Cost" (Section 32) loans were provided as required by law. Rate-Based Test HOEPA Qualified: Trigger Threshold: Calculated: RESULT: NO NA NA NA Points & Fees Test NO NA NA NA

This table show s w hether the three-day rescission period ending date as listed in the Notice of Right to Cancel disclosure w as correctly calculated as required by law.

Disclosed NA

Correct NA

Variance NA

Result Not Required

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This table shows the amount, in dollars and percentage of loan amount, of various specific closing costs paid directly by the borrower and/or lender. Yield Spread Origination Discount Lender Broker Premium (YSP) Amount: $0.00 $2,520.00 1.000% $1,420.00 0.563% $0.00 0.000% $0.00 0.000% Percent of Loan: 0.000%

This table lists the various features and characteristics that describe the profile of the loan, borrower and property. Loan Type: Loan Purpose: Fixed-Rate Purchase Interest Only (mos): Demand Feature: 120 NO

Loan Note Date: 2/26/2007 Negative Amortization: NO Loan-to-Value (LTV): 82.60%

Balloon Payment (mos): NO Prepayment Penalty (mos): NO Mortgage Insurance: NO

Gross Monthly Income: $15,018.83 Debt-to-Income (DTI): 30.07%

Property Type: Secondary Residence Property Value: $300,000.00

This table lists all the variables describing this loan including loan amount, rate, term, initial payment, first payment due date and the factors that determine any possible future changes to the rates and/or payments. Amount: Initial Rate: Term (mos): Initial Payment: First Payment Date: Initial Rate Change Date: Subsequent Rate Changes (mos): Index: Margin: Rounding: $252,000.00 6.500% 360 $1,365.00 4/1/2007 NA NA NA NA NA Initial Increase Rate Limit: Initial Decrease Rate Limit: Subsequent Increase Limit: Subsequent Decrease Limit: Lifetime Maximum: Lifetime Minimum: Initial Payment Change Date: Subsequent Payment Changes (mos): Payment Change Cap: Maximum Loan Balance: NA NA NA NA NA NA NA NA NA NA

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This table shows the correct Truth in Lending payment schedule, as required by law, that is based on the various loan variables contained in the mortgage note and other related mortgage documents.

Number of Payments 120 239 1

Payment Amount $1,365.00 $1,878.84 $1,879.85

Date Beginning 4/1/2007 4/1/2017 3/1/2037

This report is not intended to be a substitute for legal advice. Loantech assumes no responsibility for errors or omissions. Under no circumstances will Loantech, its officer or agents be liable to the user or any third party for any damages associated directly or indirectly with this product, including but without limitation, special, incidental, consequential, contractual or other damages. NA denotes not available or not applicable. Material may not be reproduced in whole or in part in any form whatsoever without express written permission of Loantech LLC. All violators will be prosecuted to the fullest extent of the law. Forensic Mortgage Auditor is a trademark of Loantech LLC. Copyright 2009 Loantech LLC. All Rights Reserved.

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