Want to know more about the FHA Audit process? You need the FHA Audit Practical Guide.

The FHA Audit Practical Guide, developed by Bankers Advisory, provides information for lenders that want a more comprehensive explanation and understanding of the FHA Audit process. The current business climate speaks directly to the need for accurate and timely delivery of FHA audit reporting, and this practical guide provides the information necessary to implement and manage the FHA Audit process. Whether you are directly impacted by the FHA audit process or are a key stake holder in the FHA lending process, this guide will assist you in properly preparing for the FHA audit process and provide a better understanding of the impact proper reporting has on processes that you may already have in place.

This online guide offers general audit guidance, addresses the qualifications of the Government Auditing Standards, and identifies the major task areas where special expertise is needed. Much of this guide is targeted toward the steps involved in the FHA audit process from reporting requirements, including government standards and reports, to LASS data entry instructions. Detailed descriptions of report scope and compliance requirements offer key references for those users that may already have FHA audit processes in place, and to those who are integrating into the audit reporting process. If your processing is automated, you can use these descriptions to get a more thorough understanding of the reasoning behind the processes. Additionally, experienced users will find the Title II Non-Supervised Mortgagees & Loan Correspondents Audit Guidance and Ginnie Mae Issuers of Mortgage-Backed Securities Audit Guidance chapters of particular interest.