Our firm has been auditing mortgage companies for over twenty years. Because of our experience, you benefit from knowledge that can help you through the audit process in a less painful way. In fact, you might even find it helpful to your business. Our goal is to offer you an economical choice to comply with the HUD requirements, but at the same time develop ideas you can use to improve business processes which should contribute to your bottom line.
We encourage you to engage our services to not only provide quality audit work, but also to help you with year-end planning before the audit begins. Our clients benefit from a planning session before the year-end close to determine the appropriate levels of liquidity and net worth required by HUD and investors/sponsors. We believe in a proactive approach to helping with the audit. Many times a new loan correspondent has been surprised by the findings in an audit after the year has closed. We want to help you before the year closes thus providing time to correct any deficiencies.
Now that HUD requires the use of the new electronic filing of the audited financial information via the Lender Assessment Subsystem (LASS), planning is even more important. In years past, audit findings were in many cases ignored by HUD. Presently, each finding reported via the LASS system will require the “cure” condition to be fixed before HUD accepts the audit. This is now much more stringent, and could cause you to lose the ability to get case numbers if too much time passes before you cure the finding. Obviously, the best solution is to do some planning before your year ends to avoid findings completely.
At R. J. Pickle, CPA, CFP® we are committed to being on your side. While we have certain audit requirements that must be met to maintain our professional integrity, we will help you make something useful to your business out of something required by HUD.
Please complete the information below and we will follow up with a call to provide complete details of our HUD audit services and how they can help you.
