This HUD audit checklist helps auditors evaluate FHA approved lenders for compliance with HUD requirements. It covers general audit requirements, financial statements prepared under GAAP, reporting under GAAS and GAGAS, internal control over financial reporting and program compliance, and the compliance report with tested areas. It outlines schedules of findings and questioned costs, corrective action planning, and guidance for electronic submission of audited financial statements and compliance data to HUD within required timelines. The checklist also addresses lender recertification, adjusted net worth, liquidity, loan origination and servicing, escrow accounts, eligible fees, kickbacks, and required quality control plans, providing a structured approach to consistent, efficient audits.
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Mitti (by SafetyCulture) is the operations system for every site, shift and standard. Trusted by over 80,000 organisations, Mitti brings your people, operational data and workflows into one operating picture. From the frontline to the boardroom, it gives everyone a clear understanding of what's happening, highlights what needs attention and recommends what to do next. Every inspection completed, issue raised and action taken becomes intelligence your teams can use to improve every day.