| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
|---|---|---|---|---|---|
| #7774 | Closed | public | FHA Lender |
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If a conventional mortgage loan that was closed in the 2nd quarter of a year, but hasn’t been funded, was not included on the quarterly call report, would this be considered a finding? We didn’t test this quarter specifically, but discovered it when we were reconciling annual information from the mortgage broker to the quarterly call reports for the entire year. |
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From Mike Olsen: I would think that since you found this, you should do some additional testing to determine if this is an isolated incident or if there are others, which would then cause it to rise to a finding. |
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