Washington State Department of Financial Institutions

Important Changes to Filing the
Consumer Loan Annual Reports

There is a change this year for Consumer Loan licensees filing the Consumer Loan Annual Reports. In addition to filing the Annual Assessment Report (AAR) and the Consolidated Annual Report (CAR), Consumer Loan licensees must also file their Q4 Mortgage Call Report through the NMLS.

DFI continues to work with the NMLS to eliminate these duplicate filings, but for now both separate reports must be filed by:

Filing the Annual Reports

DFI mailed a form to each licensee this week. You should use these forms to complete the Annual Assessment Report and Consolidated Annual Report. If you need another copy of the forms, you can find them here:

Filing the Q4 Mortgage Call Report

The Q4 Mortgage Call Report is due February 14, 2012.

Once I file the Q4 Mortgage Call Report and the Annual Reports with DFI, what else do I need to do?

You will need to use your loan origination volume for all of 2011 as reported on the Annual Assessment Report to determine if the amount of your surety bond is adequate.

You can review DFI’s Bond Requirements for required bonding amounts related to origination volume. If an adjustment must be made to your surety bond, you must submit an original surety bond rider to DFI as soon as possible.

What are the most common errors when filing the Annual Assessment Report or Consolidated Annual Report?

Simple calculation errors are the most common deficiency on Annual Report filings each year. The next most common deficiency is failure to include the required loan list or the list you do provide does not contain the required data fields.

What happens if I do not file my annual reports by March 1?

Failure to file the Annual Assessment Report and Consolidated Annual Report will result in a penalty of $50 per late report, per day. In other words, if you are one day late filing both the Annual Assessment Report and the Consolidated Annual Report, you will be assessed a $100 late fee.

What happens if I do not file my Q4 Mortgage Call Report by February 14?

Failure to file the Q4 Mortgage Call Report by February 14 or any subsequent quarterly Mortgage Call Report will result in you being referred to our Enforcement Unit and could result in Enforcement Action.

When are the 2012 Mortgage Call Reports due?

The filing deadlines for the Mortgage Call Reports are as follows:

Have questions? Who to contact.

If you have questions about how to file the Mortgage Call Report, you can contact the NMLS Call Center at (240) 386-4444. You can also review the information posted on the NMLS website about the Mortgage Call Report.

If you have questions about the Annual Assessment Report or Consolidated Annual Report, you can contact Amanda Harvey at amanda.harvey@dfi.wa.gov or (877) RING DFI (746-4334).

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