Common use of FINANCIAL STATEMENTS AND RIGHT TO AUDIT Clause in Contracts

FINANCIAL STATEMENTS AND RIGHT TO AUDIT. When applicable, pursuant to agency and/or investor guidelines, Seller agrees to provide annual audited financial statements to Buyer within ninety (90) days after the close of its fiscal year prepared by independent certified public accountants in accordance with generally accepted accounting principles. Seller will also submit copies of current Mortgage Licenses (where applicable) and a copy of a current Fidelity Bond and E & O Insurance Policy. If Xxxxx is the Sponsor of the Seller under the FHA Loan Correspondent program, Seller agrees to allow Buyer access to their office facilities and loan records during normal business hours for an on-site compliance audit in accordance with HUD quality control requirements. 9 | P a g e

FINANCIAL STATEMENTS AND RIGHT TO AUDIT. When applicable, pursuant to agency and/or investor guidelines, Seller agrees to provide annual audited financial statements to Buyer within ninety (90) days after the close of its fiscal year prepared by independent certified public accountants in accordance with generally accepted accounting principles. Seller will also submit copies of current Mortgage Licenses (where applicable) and a copy of a current Fidelity Bond and E & O Insurance Policy. If Xxxxx Buyer is the Sponsor of the Seller under the FHA Loan Correspondent program, Seller agrees to allow Buyer access to their office facilities and loan records during normal business hours for an on-site compliance audit in accordance with HUD quality control requirements. 9 | P a g e

FINANCIAL STATEMENTS AND RIGHT TO AUDIT. When applicable, pursuant to agency and/or investor guidelines, Seller agrees to provide annual audited financial statements to Buyer within ninety (90) days after the close of its fiscal year prepared by independent certified public accountants in accordance with generally accepted accounting principles. Seller will also submit copies of current Mortgage Licenses (where applicable) and a copy of a current Fidelity Bond and E & O Insurance Policy. If Xxxxx is the Sponsor of the Seller under the FHA Loan Correspondent program, Seller agrees to allow Buyer access to their office facilities and loan records during normal business hours for an on-site compliance audit in accordance with HUD quality control requirements. 9 | P a g e.