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#1960141 - 09/08/14 07:10 PM Tolerance Cure found during audit
ADN Offline
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Joined: Mar 2007
Posts: 205
Our internal auditing department found a settlement statement that required a tolerance cure, however it was not given at closing or within 30 days of closing. Should the bank (90 days after closing) send a cashiers check to the borrowers for the cure amount?

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Audit
#1960554 - 09/09/14 08:06 PM Re: Tolerance Cure found during audit ADN
ComplianceNerd Offline
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Joined: Nov 2011
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Texas ...
yes
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#1960621 - 09/09/14 10:47 PM Re: Tolerance Cure found during audit ADN
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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It is always better to reimburse when past the mandated date, rather than wait for examiners to find it and require the reimbursement.
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#1961659 - 09/12/14 06:16 PM Re: Tolerance Cure found during audit Kathleen O. Blanchard
RR Jen Offline
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Originally Posted By: Kathleen B
It is always better to reimburse when past the mandated date, rather than wait for examiners to find it and require the reimbursement.


I agree.
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