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You may have already triggered an audit by State Examiners - Did you know that Chapter 494 of the Florida statutes gives the Office of Financial Regulation the right to knock on your door at any moment for the purpose of conducting an audit of your mortgage business? And that the department frequently orders refunds to borrowers of any fee collected in a mortgage transaction that does not comply with Florida mortgage law?
Through what we call mock audit (a.k.a. a friendly audit) we have helped save mortgage businesses hundreds of thousands of dollars in potential fines and refunds.
During a friendly audit, we: · Discover your “audit triggers” - things you are doing that could prompt a State audit · Discuss “audit psychology” and the things you can do to positively influence the outcome of a State audit · Review business records including: loan files, operating accounts, advertising, principal designations, quarterly reports and more · Uncover potentially costly HOEPA (Section 32) and Florida Fair Lending Act (FFLA) loans (fineable up to $5k per violation!) · Identify business practices that may violate State and Federal laws · Discuss ways you can motivate sluggish borrowers to provide you with the things you need to be in compliance with the law · Hold an exit interview with you to review our findings, and to explore ways to correct violations. |
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1013 Lucerne Ave. Suite 201 Lake Worth, FL 33460 |
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To contact Compliance Consulting Corp: |
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Phone: (561) 586-3645 Fax: (561) 586-6335 E-mail: info@ComplianceConsultingCorp.com |
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Compliance Consulting Corporation |
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Faithfully serving the mortgage industry since 1991! |
