UTA 'Audits' SF Assessor's Report

Elizabeth Knight

In response to a request by UTA, CMBA, CMA and ALFN, the San Francisco County Assessor’s office has provided the organizations with a copy of the 382 properties used in compiling a report released by their office and drafted by the firm, Aequitas, entitled, “Foreclosure in California: A Crises in Compliance.” UTA is now culling the documents used in the report and ‘auditing the audit.’

The report claimed to have found errors in 99% of the foreclosures in the report and “clear violations of law” in 84% of the foreclosures as well as problems with 75% of the Assignments and 85% of the Substitutions of Trustees. “A quick glance at the report is sufficient to see the lack of the auditor’s understanding of existing foreclosure law,” said Robert Finlay, Esq., Wright, Finlay & Zak, UTA’s President. "The report appears to contain numerous errors, inaccuracies and speculation on the part of the auditors," said Elizabeth Knight, UTA Secretary, who is spearheading the 'auditing of the audit' and UTA's response. "It appears that it was prepared with an agenda in mind for parties who are not taking into consideration that by making an inaccurate report, the costs to the homeowners could rise and raise false expectations on the homeowners' part.