FHA Details Alternative Financial Reporting Requirements for Supervised Lenders

August 2011
Internal Auditor Alert (1553-8222);Aug2011, Vol. 8 Issue 8, p1
The article discusses the background of a U.S. Federal Housing Administration (FHA) directive known as Mortgage Letter 2011-25 issued on July 28, 2011. The directive provides a guidance in alternative reporting requirements for small supervised lenders with consolidated assets below audited financial reporting thresholds. FHA-approved supervised lenders regulated by Federal Deposit Insurance Corporation and other agencies, are not required to submit audited financial statements to the FHA.


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