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As a supervised mortgagee lender, what are your reporting requirements?
By Ellen Fisher, CPA, Senior Audit Manager
The Department of Housing and Urban Development (HUD) has made several changes to the reporting requirements for supervised mortgagees. Beginning with HUD Mortgagee Letter 2009-31, supervised lenders were required to submit annual audited financial statements electronically through HUD’s LASS on-line system.
In January 2011, HUD issued Mortgagee Letter 2011-05 that revised the audit reporting requirements for supervised lenders. Then in July 2011, HUD issued Mortgagee Letter 2011-25 that further revised the reporting requirements for small supervised lenders and provided a reprieve from the audited financial statements requirement.
To fully understand the current reporting requirements and how this applies to you, please read the full article and contact Ellen with any questions at (719) 630-1186 or efisher@skrco.com.
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Meet our Financial Institution Specialists
Ellen Fisher, CPA, Senior Audit Manager
Dave Kast, CPA, CVA, Audit Partner
 Please feel free to contact us through our Secure Email or at (719)630-1186.
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