Saturday, February 10, 2007 - 2006 Texas Annual Reports - EARLY DEADLINE THIS YEAR!

Each mortgage broker is required by law (Section 156.213 of the Mortgage Broker License Act) to file an annual report with the Texas Department of Savings and Mortgage Lending. This report must include loan and other information regarding you, the mortgage broker, and all loan officers you sponsor. Each mortgage broker is required to complete this report even if no loan activity occurred during the calendar year. This report must be received by the department no later than February 28 for the proceeding calendar year's production activity.

Failure to complete and file this report within the designated time period will serve as a basis for disciplinary action including, but not limited to, the assessment of administrative penalties and possible suspension of the mortgage broker's license.

What data will you need to access the report?

1. Mortgage Broker License Number
2. Your Pin number, which is the first six numbers of your social security number without a dash.  For example, if your social security number is 123-45-6789, enter 123456)
3. List of your current loan officers, their license numbers, and branch offices
4. Breakdown of your total loan production
   1. First Liens Only
   2. 1-4 Family Residential Only
   3. Categorized:  Quantity and Loan Amounts
      1. FHA
      2. VA
      3. Conventional - FNMA/FHLMC Conforming
      4. Conventional - Non-Conforming or Jumbo
      5. Other Loans relating to first lien 1-4 family residential (Hard Money, etc.)
      6. Texas High Cost Loans

Then it will take you to a screen where you will confirm the following records of the department:

1. Company Information
2. Sponsored Loan Officers
3. Active Branch Offices
4. Loan Production Details
   
   1. List the number and total dollar amount of first lien 1-4 family residential home loans originated (and closed) in Texas or secured by Texas property during calendar year in the following categories of loans.
   2. Include the loans originated and closed by you as a licensed mortgage broker and all the licensed loan officers that you sponsor.
   3. If your company employs more than one mortgage broker, each broker must file a separate report including information about the loan officers he or she sponsors.
   4. Do not use total company origination information unless you are the only licensed mortgage broker in the company.
   5. Show only total loan information for yourself and the loan officers you sponsor.
   6. If you had no loan origination activity during the calendar year you are reporting, enter "0" in the box.
   7. Do not break data out by originator.
   8. Include in your totals the actual loan amount, not just earned fees from the loan.