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Symptoms of Trickery to watch for.

Our O.A.R. Reporting exposes bogus audits and auditors.

A cottage industry of pretender experts, mostly unemployed loan officers, have labeled themselves "securitization experts". They promise the world but deliver bogus results. Here are some of the "tricks of the trade" they employ. Ordered randomly.

Have you experienced something that is not on this list? Please use the CONTACT tab and submit your observation for inclusion.

0: Doing business with the "wolf" in sheep's clothing. Check the resume of your intended expert and do research. If your so-called expert was a key person in a lender notorious for issuing loans destined to default, you were misled then and now when you're hoping to fight, you do not want to err in judgment. Folks trained in sales techniques can be very convincing, to the buyer's detriment later on. "Fool me once shame on you. Fool me twice shame on me". For example: If your audit expert cites working for EMC; google "emc mortgage fraud ftc" but also search Attorney General complaints by adding keywords such as "NY AG". Other words like "complaints" is also recommended. Be creative; read what pops up.


1: False claims of expert credentials. Obtain his/her affidavit of experience, declaration of cases and states testified in writing. Research the claims. Check state and federal licensing portals, corporation and business records on Secretary of State Portals.

2: The "never been challenged" ruse. It is normal and expected for experts on one side to be challenged by the other side.

3: Falsifying claims of court results attributed to audits. When judge's state conclusions in orders they clearly attribute their actions with specificity. Don't be fooled by a party claiming a case result was due to their reporting. You can research a particular case's final judge's order on your own. Go to the court records or use Pacer (nominal charges will apply).

4: Self issued press releases. There are many avenues in which a party can issue their own press release that appears to be issued by a reliable third party when in fact it is not. Do your research.

5: Who are you really doing business with? Bogus auditors and entities can be operating under assumed names or touting the use of auditors who you cannot speak to and verify as to authenticity. Dig deep in the search engines and cross reference relationships that pop up.

6: Affidavits that look good but are useless in court. Anyone can offer an affidavit but only those that are absolutely clear on violations by parties who qualify by experts and perform first party work are acceptable. Bogus auditors often include disqualifying content such as conjecture, hearsay, third party references, opinions and argument without undisputable evidence that may look good to a borrower side pro se litigant or their attorney but render them easily undermined and useless in court.

7: Payment accepted in cash or cash equivalent only. There is usually a reason companies only accept cash in advance. When Merchant Service institutions won't extend credit card accounts to merchants it's for a reason. Paying cash or check only means no venue to dispute or charge back if dissatisfied.

8: Audit expert turns out to be ex-predatory lender. Auditor presents credentials as manager or key person at lender who was a notorious predatory lender issuing the loans that destroyed borrowers.

9: Experts who provide loan modification services, pleadings help and assistance. Expert's that testify cannot be advocates or offer legal and other assistance, they testimony and findings will be dismissed.

10: Guaranteed results before examining your entire documentation. The "we always find in your favor" plays to desperation. Real experts must evaluate a case before coming to conclusions.

11: Bogus pretender auditors that post audit scam information and warnings on their web site. It is not uncommon for the bogus pretender scammer auditor to post selective auditor scam warnings on their web site, lending false credibility to their offerings.

12: Report content that is useless, informational or fails to draw qualifying conclusions. Don't be fooled by hundreds of pages of SEC filings or pages of parties and documents submitted. The essential components are the expert's sworn statements and the facts behind them. If they don't draw a clear conclusion that a judge would find to your favor, how can a judge do so?

13: Failure to clearly provide expert litigation support, pricing and products. A report without the expert litigation support to back it up is "informational" and useless in the process of litigating to win. Watch out for claims such as "expert witness support pricing" vagaries, such as "on an individual basis" or "inquire". Expert witness services should be clearly displayed.

14: Do reports include info that undermines them? Offering legal citations, advice, case law, conjecture and third party hearsay is not acceptable in State and Federal courts. Format must be within the boundaries of Rules of Civil Procedure posted on all court web sites.

15: You can't speak directly with the auditor. If you cannot speak to the expert who is performing the work and will provide the consultation and expert witness services, steer clear.

16: Attorney and client cannot vet the audit expert prior to ordering. Clients and attorneys should conference with the expert prior to engaging services to determine how the purported expert answers questions that will surely come up under cross examination.

17: Self proclaimed reputation that independent research does not support. Are you being fed a self proclaimed reputation or did you do deep research on the internet to expose credentials or reputation?

18: Experts are often educators emeritus. Instructor claims in courses are often over stated because in fact they were recent "students" in that course. Seek founders of course curriculum with verifiable entities and do the research to confirm that.

19: Resume gaps. Record should be up to present and you should verify the claims. What they did should be relative to securitization. Being a realtor or mortgage broker is not securitization experience.

20: Failure to thoroughly check company history and principals in the company. Many bogus companies are in and out of bankruptcy and business, open one day, closed the next and re-opened under a different name.

21: "We contract auditors." This statement indicates you are dealing with a middleman. If you're not paying the auditor or audit firm directly you are paying a substantial amount of sales commissions.

22: Pseudo Certification. Is your expert relying on 24 hour or 16 hour courses taken as their basis of expertise?

23: The falsity of memberships. Is your expert relying on a particular membership in a particular fraud or other membership organization and posting their emblem for claims of expert status? Many organizations will take anyone that pays the yearly fee. This may impress you but it does not in itself qualify a party as an expert.

24: Super fast delivery times. True investigations that meet the requirements to be evidence take considerable time. Case loads dictate other cases in the expert's pipeline.

25: Over reliance on Bloomberg and reporting agencies. Is your expert's claim that of a person trained to access third party software that relies on fourth party reporting? Hearsay is not admissible in court.

26: Selling worthless Credit Default Swap audits. This is a recent 'make money on conjecture' invention. In trust identified audits credit default swap parties have always been reported at no extra charge. These are modeled after the legitimate specifically identified insurance payoff reports Master Servicer, Systems Administrators and Collateralized Debt Obligation Managers may receive. The real thing is very rare to view or receive. The bogus ones are totally worthless.

27: Inclusion of disqualifying conjecture, opinion and argumentative hearsay. If a statement is made that appears in your favor but the cold hard undisputable facts are not there to support it, it's called conjecture and it's not allowable in court evidence or testimony.

28: Taking advice from the inexperienced or losers. Many non-attorney foreclosure rescue scams pervade the internet. Taking legal advice from non-lawyers may be cheap and sound good to the uninitiated but its false hope and ill advised. Deep research reveals oftentimes these gurus have actually lost their own cases using their techniques.

29: Shopping price alone. Many bogus auditors charge prices so low that they become the alluring fact. But price alone is not a guarantee of quality. Many bogus auditors actually charge more than dealing direct with a recognized expert.


FPG-USA Complaints Addressed


FPG-USA tries hard to also be associated with the word "complaints" on Internet searches in our industry. 


Please take notice that we are part of the solution to the problems addressed in the articles.

Our OAR "Outside Audit Review" service exposes fake, bogus and pretender "experts".





Expect to see some retaliation! Don't be surprised to see tricksters we've investigated sporting seemingly bona-fide complaints against PG-USA that are fabricated and bogus, from vague and ambiguously identified parties. Expect to find these on web sites selling bogus or questionable securitization audit services or acting as undisclosed middlemen for high undisclosed percentages of the fees charged. These web sites usually contain offerings included in our Symptoms of Trickery page under the O.A.R. tab. Complaints such as these are indications the firm was investigated, with negative results.

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