What changes occur in the audit process due to securitization fraud?
What changes occur in the audit process due to securitization fraud?
Securitization fraud necessitates a more rigorous audit process to detect irregularities in loan documentation, chain of ownership, and compliance with regulations. Auditors must meticulously scrutinize mortgage-backed securities transactions to uncover any fraudulent activities. This involves thorough examination of loan files, borrower information, property appraisals, and transaction records to identify discrepancies or misrepresentations that could indicate fraudulent behavior. Such heightened scrutiny in the audit process is essential for restoring investor confidence and ensuring the integrity of the mortgage market.
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