Issue: There has been a consistent failure to make mortgage payments on time.
Trend: This issue appears to be increasing, indicating a potential risk to financial stability.
Follow-up: Review payment schedules and implement a plan to address missed payments promptly.
Finding Text
FAILURE TO MAKE MORTGAGE PAYMENTS.
Corrective Action Plan
MANAGEMENT AGREES WITH THE FINDING. THE DELINQUENT MORTGAGE PAYMENT WILL BE PAID IN THE AMOUNT OF $5,612. MANAGEMENT WILL ENSURE THAT THE MORTGAGE PAYMENTS ARE MADE TIMELY IN THE FUTURE.