Going to vent. Why do mortgage brokers think that CPAs can write letters saying that "it will not cause any financial burden" if so and so takes the working capital out of their company and all the other inappropriate requests that the put on us.
I am thinking that our profession really needs to push back. I am tempted to draft a letter to send to the SEC and the real estate licensing board stating that these businesses should be investigated for inappropriate underwriting by thinking a BS comfort letter is a good idea to request.
I don't write them in general. Granted if they just want to know how long they have been our client or something I do. Below is what our insurance carrier said to put on those letters. But really, we need a unified push back against the crap they think they can ask us to put on our letter head. Any lender that requests a comfort letter should be banned from lending for some number of years in my humble opinion.
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