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When you receive a forensic securitization audit report, you are looking at a legal document, not a financial summary. Understanding how to read it, and what the findings actually mean, is important whether you are reviewing it yourself or handing it to an attorney. The Executive Summary Every SDAudit report begins with an executive summary. … Read more

Of all the defects we find in securitized loans, PSA cutoff date violations are among the most significant. They are also among the most commonly overlooked, because they require knowing the specific terms of the governing trust agreement, not just reviewing the loan documents themselves. What Is a PSA Cutoff Date? Every securitization trust is … Read more

Most people have never heard the term “securitization audit” until they are already in a dispute with their lender. That is a problem, because understanding what securitization is, and what an audit actually does, is the first step toward knowing whether you have any leverage in your situation. What Is Securitization? When you take out … Read more