The State of New Jersey
NJ Department of Banking and Insurance
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Dedicated Funding FAQs - Residential Mortgage Lender (RML)
Please Note:

The online annual reporting system will be available on or about February 1, 2014. All licensees will be receiving notifications on how to access the system by mail. All annual reports will be due May 1, 2014.

If you have any questions, please contact Consumer Finance Assessments.


Submission of the annual report is an essential component of the Department's funding mechanism. Therefore, failure to file your online annual report may result in significant fines and penalties.

The Department recommends downloading and printing the 2013 Annual Report Worksheet (at right) before completing the online report.

If you have any questions about filing your annual report, please call Consumer Finance Assessments at 609-292-7272
.

Thank you in advance for your cooperation in this important matter.
 
Annual Report Worksheet
Residential Mortgage Lender (PDF)
 
 
File Your Annual Report
 
Annual Reports


Will a residential mortgage lender be required to file an annual report?

A residential mortgage lender is required to file an annual report with the Division of Banking. The report must be filed for the period of January 1, 2013 through December 31, 2013.

Are any questions on the annual report new to licensees who previously filed annual reports?
Questions are similar to those in previous annual reports. For
residential mortgage lenders, it is important to pay particular attention to

  • Net worth requirement
  • The dollar volume of all loans closed - whether closed by licensee or brokered
  • Surety Bond requirement

Information must be collected from 1/1/13 through 12/31/13 for New Jersey business and maintained to complete the annual report.

Is there a filing deadline for the annual report?
All annual reports must be filed no later than May 1, 2014 for the January 1, 2013 to December 31, 2013 reporting period. Annual reports are expected to be filed electronically over the Internet through the State's secure web site.

What is the penalty for filing the annual report late?
If the filing of the annual report is late, you may be subject to a late penalty of $100 for each day the annual report filing is late, and are subject to suspension or loss of license. The Division of Banking MUST have report information on ALL licensees in order to properly assess and bill all licensees.

Do the NMLS filing requirements eliminate the DOBI Annual Report filing requirement?
No. The NMLS Mortgage Call Report and Annual Financials must be completed on the NMLS site. This is in addition to the DOBI Annual Report filing requirement.

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Contact Information For licensing questions:
NJDOBI License Services, Banking
PO Box 473
Trenton, NJ 08625
E-mail: bliconline@dobi.state.nj.us
609-292-7272
For annual report, assessment questions:
NJ Department of Banking and Insurance
PO Box 040
Trenton, NJ 08625
E-mail: Consumer Finance Assessments
609-292-7272 ext. 50436
 
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New Jersey Department of Banking and Insurance