EIN: 541561639
UEI: HTMDL319D7J3
Audited by: Brown Edwards & Company, LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on December 30, 2025. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by June 30, 2026 (66 days ago).
What is a management decision? →Per the HUD regulatory agreement, the Corporation is required to make monthly replacement reserve deposits. The required deposit amount increased from $3,604 to $3,939 effective 10/1/2024. For the period from 10/1/2024 through 6/30/2025, the mortgage company continued to draft the $3,604 deposit. Cause: This occurred due to the mortgage company not updating audit-draft of the reserve deposit to the correct amount.
Show full finding ▾Hide full finding ▴Condition: Per the HUD regulatory agreement, the Corporation is required to make monthly replacement reserve deposits. The required deposit amount increased from $3,604 to $3,939 effective 10/1/2024. For the period from 10/1/2024 through 6/30/2025, the mortgage company continued to draft the $3,604 deposit. Cause: This occurred due to the mortgage company not updating audit-draft of the reserve deposit to the correct amount.
On july 29, 2024, management notified the mortgage company that the required deposit into the replacement reserve was increasing. The mortgage company, however, did not make the change to the monthly auto-draft until July 2025 mortgage payment and escrows were drafted. At that time 7/8/25, the $3,015 underfunded reserve balance was funded in full
FAC accepted this audit on October 25, 2024 — management decision was due April 25, 2025.
FAC accepted this audit on October 27, 2023 — management decision was due April 27, 2024.
FAC accepted this audit on January 8, 2023 — management decision was due July 8, 2023.
FAC accepted this audit on September 29, 2021 — management decision was due March 29, 2022.
FAC accepted this audit on October 7, 2020 — management decision was due April 7, 2021.
FAC accepted this audit on October 3, 2019 — management decision was due April 3, 2020.
FAC accepted this audit on October 2, 2018 — management decision was due April 2, 2019.
FAC accepted this audit on November 6, 2017 — management decision was due May 6, 2018.
FAC accepted this audit on November 10, 2016 — management decision was due May 10, 2017.
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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