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An Audit Report on the Department of Savings and Mortgage Lending: A Self-directed, Semi-independent Agency

May 2025

Overview

The Department of Savings and Mortgage Lending (Department) had effective processes and related controls to ensure the accuracy and completeness of its performance and financial data. It also had an effective process for setting fees based on its budgetary needs and assessing penalties in compliance with its rules.

However, the Department should strengthen its reviews of its financial statements and user access rights to key systems to ensure that they align with users' job duties.

MEDIUM

FINANCIAL AND PERFORMANCE DATA

The Department had effective processes for calculating and recording performance and financial data. However, its reviews of the 2024 financial statements did not detect certain errors. In addition, some user rights to certain information systems did not align with the employees' assigned job duties.

Jump to Chapter 1
LOW

SETTING FEES AND PENALTIES

The Department had a process for setting fees based on its budgetary needs, and it set amounts for penalties in compliance with Texas Finance Code requirements.

Jump to Chapter 2

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Contact Us

1501 North Congress Ave.
Austin, TX 78701
Phone: (512) 936-9500
Fax: (512) 936-9400
Email: auditor@sao.texas.gov
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