actually, the “audit” is much ado about nothing, it's a cluster of legal conclusions tied up in a pretty package. any knowledgeable attorney will tell you it's useless. btw, the noises you hear in the background are the banks laughing. first, the company that performed the "audit" also performs these bogus "forensic loan audits" aka software tila/respa audits that the california's attorney general, as well as most other attorneys general have stated are basically scams. mortgage fraud examiners was the first one to identify these audits as scams and the attorneys general picked up on it shortly thereafter. see, http://www.prurgent.com/2011-04-21/pressrelease165977.htm which begs the question: why in one breath is california commenting on bogus audits and then using them? that in and of its self doesn’t pass the smell test. second, "securitization audits" aka “chain of title audits,” like the audit in question are basically useless as well; except maybe to just stall a foreclosure. see, http://www.nakedcapitalism.com/2011/05/new-homeowner-scam-mortgage-securitization-audits.html is this just about the government trying to make itself look good, then really about anything of real substance; or is it because the assessor is up for re-election? the only methodology that has proven time and time again to work is the examination of the mortgage transaction for contract breaches and/or tortious conduct. see, http://neighbors.denverpost.com/viewtopic.php?f=215&t=123490692