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Is an Annual Report also required?
No. Beginning in 2018, licensees/registrants are not required to file an Annual Report on DIFS form FIS 1077 and/or form FIS 1080. Instead, all licensees/registrants are required to directly submit mortgage broker, lender, and/or servicer loan activity using the electronic Mortgage Call Report (MCR) filed quarterly via the Nationwide Multistate Licensing System & Registry (NMLS). Further information regarding the quarterly reports can be found at the NMLS Resource Center Mortgage Call Report. This activity will be used to assess the annual renewal operating fee. Late filing or failure to file may result in fines and penalties. (Section 21(3) and 8(6) of the Act).