Mortgage Broker Audit
Full GAAS-compliant audits for mortgage brokerages. Most completed in 3–6 weeks.
Audits Built for Mortgage Brokers
When your warehouse lender requires audited financial statements, the clock is ticking. You need a CPA firm that knows exactly what's expected—one that won't waste weeks figuring out your industry before starting the engagement.
Guidepost's Broker Audit delivers full GAAS-compliant audited financial statements designed specifically for mortgage brokerage operations. We understand loan origination revenue recognition, warehouse line covenants, escrow and trust account compliance, and the specific disclosures your lenders need to see.
Our standardized process for mortgage brokerages means we hit the ground running from day one. No learning curve. No education period. Just a firm that already speaks your language and delivers on a guaranteed timeline.
What's Included in Our Audit
- Full GAAS-compliant audit with independent auditor's report
- Audited balance sheet, income statement, cash flow statement, and notes
- Net worth and liquidity compliance verification
- NMLS filing assistance
- Management letter with findings and recommendations
- Direct lender communication for audit confirmation and follow-up
Who Needs a Mortgage Broker Audit
Brokerages with warehouse lender requirements
Most warehouse lenders require audited statements, especially for credit lines over $500K. We prepare audits that satisfy all major lender requirements.
Companies applying for FHA, Ginnie Mae, or GSE approval
FHA, Ginnie Mae, Fannie Mae, and Freddie Mac all require audited financials. Our audits meet their specific requirements and accelerate approval.
State regulators requiring audited financials
Some state regulators mandate audited statements for licensing. We handle this requirement and ensure compliance across all applicable jurisdictions.
Brokers seeking HUD Section 184 Direct Guarantee Lender status
HUD Section 184 lenders require audited financials and specific compliance documentation. We support this path with complete audit and regulatory support.
Our Process
Consultation & Scoping
We assess your brokerage structure, warehouse lender requirements, state regulations, and timeline to scope the appropriate audit procedures.
Planning & Fieldwork
Our team executes comprehensive audit procedures using standardized programs built for mortgage brokerages. We test loan origination revenue, warehouse line covenants, and compliance requirements.
Draft Review
You review the draft audit report and we address any questions or clarifications. We incorporate your feedback before finalizing.
Final Delivery
Audit report typically delivered in 3-6 weeks with NMLS filing support, management letter, and availability for lender inquiries. First-year engagements and busy season (January–April) may require additional time.
Broker Audit FAQ
Frequently Asked Questions
How long does a mortgage broker audit take?
Most audits are completed within 3-6 weeks of receiving complete documentation, depending on complexity and whether this is a first-year engagement. First-year engagements require additional setup, inquiries, and documentation. Timelines may also vary during busy season (January–April).
What does your audit procedure cover?
We test all material account balances, loan origination revenue recognition, warehouse line compliance, escrow and trust account reconciliation, intercompany transactions, and regulatory compliance. We follow GAAS standards but tailor our procedures to mortgage-specific risks like loan level accounting, commission structures, and lender covenants.
What do warehouse lenders expect to see in the audit?
Lenders want audited financial statements showing strong net worth, compliance with their specific covenants (debt ratios, liquidity requirements, net worth minimums), verification of loan origination volume, and confirmation that escrow accounts are properly segregated. Our audit is designed to demonstrate all of this clearly.
Will the audit identify issues in my operations?
Yes. Beyond the audit opinion, we provide a management letter documenting any control weaknesses, accounting issues, or operational recommendations. This helps you address problems before they become compliance issues. Most clients find the management letter as valuable as the audit itself.
Combine Services for Maximum Efficiency
Many of our clients combine their annual audit with tax preparation to eliminate reconciliation headaches and save time:
- Audit + Tax Bundle
One firm, one team, one point of contact. Get your audit and tax return prepared together for consistency and savings.
- Bookkeeping & CFO Advisory
Add monthly bookkeeping the year before your first audit to ensure clean books and smooth fieldwork.
- Broker Financial Statement Review
If your warehouse lender later accepts reviewed statements, we can downgrade to save costs while maintaining compliance.
Ready to Get Started?
Schedule a free consultation to discuss your audit requirements and timeline. Let's talk about how we can deliver audit-ready financials on your schedule.
Or reach out directly