Archive for July, 2011

Federal Registration Deadline is July 29 (FEDERAL)

July 19, 2011

MLOs employed by federally regulated institutions have until July 29 to comply with the SAFE Act’s federal registration requirement. The NMLS Call Center is staying open later to field calls leading up to the deadline.

Starting August 1st, consumers will be able to view a federally regulated MLO’s registration status in NMLS Consumer Access.

Institutions who still need to register their MLOs should visit the Resource Center’s Getting Started: Institutions. Individual mortgage loan originators should visit Getting Started: Mortgage Loan Originators.

When is your Fiscal Year End? (STATE)

July 5, 2011

The Financial Condition (FC) component of the Mortgage Call Report is due annually, 90 days after the company’s fiscal year end. Over 700 state-licensed companies in NMLS have a fiscal year end in the first half of the year, which means their FC due dates are beginning to hit. Be sure to put your MCR due dates (both the quarterly RMLA and the annual FC) on your calendar. (NOTE: Companies required to complete the Expanded MCR have different FC requirements.)

MCR Round 2 is Due August 14 (STATE)

July 5, 2011

The second quarter has come to an end and NMLS is now accepting Mortgage Call Report filings for Q2 activity. The due date for the Q2 RMLA filing (loan activity data) is August 14.