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Requirements After a California Residential Mortgage Lender and or . . . Every licensee must file the Mortgage Call Report on NMLS each quarter Please refer to the NMLS Resource Center All licensees must submit audited financial statements within 105 days of the end of its fiscal year The audited financial statements must document that the licensee maintains tangible net worth of $250,000
CA Mortgage Law Flashcards | Quizlet Residential Mortgage Lending Act licensees must establish and keep current: -A general ledger reflecting the assets, liabilities, capital, income, and expenses of the business
California Financial Code section 50200 (2025) At the end of the licensee’s fiscal year, but in no case more than 12 months after the last audit conducted pursuant to this section, each licensed residential mortgage lender or servicer shall cause its books and accounts to be audited by an independent certified public accountant
California Financial Code § 50200 (2024) - Justia Law The report filed with the commissioner shall be certified by the certified public accountant conducting the audit The commissioner may promulgate rules regarding late audit reports
Residential Mortgage Lenders Servicers - DFPI An application for a License under the California Residential Mortgage Lending Act must be filed through the Nationwide Mortgage Licensing System (NMLS) Please refer to the NMLS checklist for complete instructions
MLO Mentor: CRMLA Annual Reports | firsttuesday Journal If a CRMLA licensee is exempt from filing the residential mortgage loan report, they must fill out a cover page which indicates they are exempt due to HMDA reporting, or low residential mortgage loan volume
California License Law and Regulation Flashcards | Quizlet Form RE 857 - Residential Mortgage Loan Report is required by law The report must be filed no later than March 31 following the calendar year for which the loan data is compiled