Friday, May 13, 2011

NMLS report- Due May 15th

The NMLS call report is due on May 15th. Have you completed your reporting yet? If you are not familiar with this reporting here is a quick summary:

The Mortgage Call report is filed by the company on behalf of its originators. The report is not filed by individual mortgage originators.

The Mortgage Call Report is a requirement of SAFE Act. All licensed Mortgage Broker and Consumer Loan companies who make, service or broker loans secured by residential real estate must file the report.

In addition, exempt companies who employ licensed mortgage loan originators must also file the report.

The Mortgage Call report must be filed 45 days after the end of each quarter through the NMLS. The May 15th filing covers business in the first quarter ( January 1,2011 through March 31, 2011)

Hope this helps.

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