From D.C. - Legislative Affairs Update from AAMB's Jody Davis re: FHA Audit

Arizona Association of Mortgage Brokers

Potential Good news for AAMB members (and all mortgage professionals)! 

"FHA Commissioner David Stevens spoke at the NAMB Legislative Conference yesterday here in Washington D.C. and dropped a bomb.  He said if your audit is due on March 30th of this year or later, don't spend the money.  The new FHA rule removing audits will be released March 1st and will apparently be in effect by the end of the month.  He stated this comment very forcefully and added that it does not matter what others say about this issue.

"If you have not done your audit, this could save you about $6,000 to $12,000 this year."

 

Jody Davis

Government Affairs Chair

Arizona Association of Mortgage Brokers