August Blass has created Walnut Creek, Calif.-based National Loan Auditors (NLA), a company providing quality control, pre-close and post-close auditing, risk assessment consulting and fraud prevention to the mortgage and banking industries.
According to NLA, the company was developed to assist loan modification professionals in reviewing loan documents for errors or misrepresentations and help to reduce the high foreclosure rates that have overcome the real estate market.
‘NLA will serve as a catalyst to providing preventive measures for real estate industry professionals to review and assess the risk of loan documents prior to close,’ says Blass, CEO of NLA. ‘There is a need in the current market to provide an in-depth look at loan portfolios and financial documents to find potential errors and expose hidden liabilities. NLA's solutions will help financial institutions save millions in foreclosure dollars by providing them with an accurate report of which loans present the most risk, and from there, the appropriate measures can then be taken to mitigate losses.’
Source: National Loan Auditors