this wouldn't be good...
I figured I'd just share this with everyone since there isn't very much going on in the ohio forum lately
My company just went through an audit today. These types of audits are random. We got picked because we have become a large target because in 3yrs we have become 12 branch offices in Cleveland area (including a couple of brand new additions) and 2 in Florida. The auditor said that my license isn't valid because my continuing education was not registered with the state (which it was suppossed to be, they must have misfiled it). I am thinking at first, no big deal, I have my copies on file in my office. But the fine for such (not being recorded) is $5,000 per incident (loan)
. The auditor said don't worry and that he would actually take care of it himself and correct the mistake with the state, which was very cool of him since usually they do not give any type of room for human or tech error. If that fine would have been implimented it would have summed up to roughly $450,000 for the year
My company just went through an audit today. These types of audits are random. We got picked because we have become a large target because in 3yrs we have become 12 branch offices in Cleveland area (including a couple of brand new additions) and 2 in Florida. The auditor said that my license isn't valid because my continuing education was not registered with the state (which it was suppossed to be, they must have misfiled it). I am thinking at first, no big deal, I have my copies on file in my office. But the fine for such (not being recorded) is $5,000 per incident (loan)
. The auditor said don't worry and that he would actually take care of it himself and correct the mistake with the state, which was very cool of him since usually they do not give any type of room for human or tech error. If that fine would have been implimented it would have summed up to roughly $450,000 for the year
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(b!atch)

