Review the file in context. Inspect the evidence and calculations. Explain the conclusion to your team—and your auditor.
The asset worksheet includes a $12,200 deposit. Excluding this unsourced amount leaves enough to close, but only $1,300 toward the $5,700 reserve requirement.
The bank statement records the money. The closing documents establish what is needed. The underwriting file adds the reserve requirement. The finding comes from reading them together.
A $12,200 deposit is counted in the asset worksheet, but the file does not establish its source.
Exclude it, account for closing, then compare what remains with required reserves.
The deposit is recorded. Its source is not established by the statement.
Inspect the inputs, the exclusions, and the calculation. Give your reviewer enough detail to check the result and understand its limits.
Closing funds and reserves evaluated separately.
| Calculation | Amount |
|---|---|
| Assets in the worksheetBank statements + asset worksheet | $106,500 |
| Exclude unsourced depositBank activity; source not established | −$12,200 |
| Documented assets after exclusion | $94,300 |
| Deduct funds needed to closeClosing Disclosure | −$93,000 |
| Remaining for reserves | $1,300 |
Give your auditor a documented basis for the review: what was found, which evidence supports it, what requirement was applied, and what remains open.
Your team can explain the decision without reconstructing the work from disconnected files.
Explore a sample report
Quality control reviewAfter excluding the unsourced deposit and deducting closing funds, documented assets fall $4,400 short of the reserve requirement.
Source the deposit or document other eligible assets sufficient to satisfy the reserve requirement.
Keep supporting documents, responses, and review outcomes connected. Walk through a complete review with our team, using the questions that matter to yours.
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