Texas SML & OCCC Mortgage Lender Audits
Need an audit done for your Texas SML or OCCC license?
Are you a Texas mortgage banker or regulated consumer lender looking for a CPA to audit your financials for SML or OCCC compliance?
You are in the right place!
How can we help?
We are CPA auditors who specialize in financial statement audits for Texas mortgage bankers licensed under the Texas Department of Savings and Mortgage Lending and consumer lenders regulated by the Texas Office of Consumer Credit Commissioner. Our clients range from small mortgage banking operations to multi-branch consumer lenders with Texas portfolios.
Whether you are renewing your SML mortgage banker license, maintaining your OCCC-regulated lender registration, or submitting audited financial statements through NMLS for the first time, we know what both regulators require and how to deliver a report that gets through review without delays.
Texas is one of the few states that splits mortgage and consumer lending oversight between two separate agencies. The SML oversees traditional residential mortgage banking under Finance Code Chapter 157, while the OCCC regulates consumer lenders under Chapter 342 and related statutes. Both require independently audited financial statements, and the requirements are not identical. Working with a CPA who understands the difference matters.
We’ll help you accomplish the following:
- Audited financial statements for your SML mortgage banker license renewal
- Audited financial statements for your OCCC-regulated lender annual filing
- NMLS-ready audit reports formatted for electronic submission through NMLS Consumer Access
- Net worth and financial position documentation in the format both regulators expect
- Coordination with your accounting team so the process fits around your operations
How it works?
Our SML & OCCC audit approach is built around the specific requirements of Texas SML and OCCC licensees, so we move faster than firms that approach every engagement the same way. Here’s how it works:
- Understanding your license and structure – We start by confirming whether you are licensed under SML, OCCC, or both, understanding your lending operations, and identifying what each regulator needs from your audit.
- Planning and document gathering – We collect the records needed to begin fieldwork and set a clear timeline around your renewal or filing deadline.
- Fieldwork and testing – We test your loan portfolio, cash accounts, net worth components, and internal controls, making sure everything is documented in line with what SML and OCCC reviewers expect to see.
- Reporting – Once fieldwork is complete, we issue the audit report ready for submission through NMLS or directly to the applicable Texas regulator.
Most engagements are completed in 4 to 6 weeks. Everything is handled digitally, so it doesn’t matter if your operations are in Dallas, Houston, Austin, San Antonio, or anywhere else in Texas.
If you are a Texas SML-licensed mortgage banker or an OCCC-regulated consumer lender that needs a financial statement audit, please contact our SML & OCCC CPAs in Texas.
How Metwally CPA Helps New OCCC Applicants?
Metwally CPA PLLC is a Texas-based CPA firm founded by Mohamed Metwally, CPA, CMA, EA. We specialize in audit and assurance services for small and mid-sized businesses across Texas and beyond, including mortgage bankers, regulated lenders, franchisors, nonprofits, PEOs, and career schools regulated by state agencies.
Mohamed holds active CPA licenses in Texas and California, an M.S. in Accounting from the University of Dallas, and has extensive assurance experience across a wide range of regulated industries. He is a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants and serves on TSCPA Practice Issues, Diversity and Inclusion, and Governmental Accounting and Single Audits conference committees.
We have completed over 100 audit engagements, and every one is delivered digitally, at a fixed rate, with responsiveness measured in hours rather than days.
FREQUENTLY ASKED QUESTIONS
As a Texas SML-licensed mortgage banker or OCCC-regulated consumer lender, you are required to submit audited financial statements annually to maintain your license in good standing. Below are the most common questions we get from mortgage bankers and regulated lenders about Texas SML and OCCC audit requirements:
SML oversees residential mortgage banking companies that originate and fund home loans under Finance Code Chapter 157. OCCC regulates non-depository consumer lenders, including regulated loan companies under Chapter 342 and related license types.
Yes, SML-licensed mortgage bankers must submit annually audited financial statements through NMLS prepared by an independent, licensed CPA.
Yes. OCCC-regulated lenders under Chapter 342 and related statutes must submit annual audited financial statements prepared by an independent CPA.
Mortgage broker audits cover companies that arrange loans but don’t fund them. SML mortgage banker audits cover companies that originate and fund loans using their own capital.
A complete set of GAAP-compliant audited financial statements, a balance sheet, an income statement, a cash flow statement, note disclosures, and an independent CPA opinion.
Most engagements are completed in 4 to 6 weeks from the signed engagement letter to the final report.
Cost varies by operation size and complexity. Metwally CPA provides a fixed-rate quote upfront with no hourly billing and no surprises.
Yes. We structure a single coordinated audit that satisfies both regulators so you are not paying for two separate engagements.
Yes. Metwally CPA PLLC is a Texas-licensed CPA firm authorized by the Texas State Board of Public Accountancy to perform independent audits statewide.
Please note that while this information provides a general understanding of mortgage broker financial statement audits, it is recommended to consult with a financial professional or auditor for specific guidance related to individual situations. If you have any questions, please contact us.