FAQ  |  Search  |  Memberlist  |  Usergroups   |  Register  |  Profile  |  Log in to check your private messages  |  Log in 

 FHA Termination of Broker Approvals View next topic
View previous topic



Post new topicReply to topic
Author Message
PHM
Dud?


Joined: 18 Jun 2008
Posts: 21

Re: FHA Termination of Broker Approvals
PostPosted: Thu Dec 17, 2009 12:09 pm Reply with quoteBack to top

I am not letting it expire, but honestly who wouldn't want to save several thousand dollars a year in overhead expenses and headache of an audit?
Between company licensing, originator licensing, bonds, audits, insurance, etc it is very expensive. I am still proceeding with the annual audit, however if they did not require it I would not be putting up a stink. My big concern is if they put it in the hands of the lenders...They may require it anyhow so it is not worth taking that risk as to what may or may not happen.
View user's profileSend private message
Do_the_math
The WhistleBlower


Joined: 14 Mar 2007
Posts: 2564
Location: Groovy Town

Re: FHA Termination of Broker Approvals
PostPosted: Fri Dec 18, 2009 7:08 am Reply with quoteBack to top

Can you delay your audit without cutting it too close?

What is your deadline? What does your bonding look like? It would be unfair for you to find out later that the money you spent on the audit should have been spent on a bond.

HUD should give brokers a 90 day extension to get their financial in while the rule is decided.

I understand your pain, and suggest that you contact your NAMB rep and ask them what they are doing for an emergency settlement.

Please update us on anything you find out. Also, feel free to reach me by PM. Maybe brokers should attempt to organize if NAMB won't help and ask HUD for a fair extension. I'll at least send out an email to HUD.

_________________
"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." -Albert Einstein

http://contributor.yahoo.com/u.....ailey.html
View user's profileSend private message
Display posts from previous:      
Post new topicReply to topic


 Jump to:   


Merge topics 

View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum




Powered by phpBB 2.0.22-2 (Debian) © 2001, 2002 phpBB Group :: FI Theme :: All times are GMT