According to the FAQs released, audited financial statements for these mortgagees will be due on or before April 30, 2020. This extension will be automatic and updated in the Lender Electronic Assessment Portal (LEAP), and as such does not require preapproval from HUD for FHA lenders.
It is important to note, at this time, Fannie Mae and Freddie Mac are not extending their reporting requirements beyond March 31.
Doeren Mayhew is committed to completing our clients’ financial statements as originally scheduled to satisfy reporting requirements. Should your institution require the additional time provided by the extension, please contact your engagement shareholder.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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