CRMLA – Residential Mortgage Loan Report/Holden Act Report
Residential Mortgage Loan Report (also called Holden Act Report) is due March 31
Mortgage lending licensees must file their Residential Mortgage Loan Report (Holden Act Report) no later than March 31.
The Holden Act Report must be filed by all State-licensed residential mortgage lenders that do not report the data to a federal or State regulatory agency as provided by the Home Mortgage Disclosure Act of 1975.
Licensees should consult with their internal compliance officers regarding whether they are required to file the report.
Completed reports may be scanned and emailed on or before March 31 to Holden.Inquiries@dfpi.ca.gov. Information regarding the report may be obtained by calling (866) 275-2677.
FORM AND INSTRUCTIONS
NOTE: The vast majority of CRMLA companies will NOT need to complete the Residential Mortgage Loan Report, they will need to indicate on the reverse side of the cover letter, the reason they are not filing the report. Following are frequently asked questions to assist you in completing the report.
- My company files a report with the appropriate federal agency as required by the Home Mortgage Disclosure Act (HMDA). Do I need to file?
No, please complete page 2 of the form indicating that you file a report as required by HMDA. Please include the name of the federal agency this report is filed with, sign, scan and submit the form to Holden.Inquiries@dfpi.ca.gov.
- I am a CFL broker. Do I need to file?
No, the Residential Mortgage Loan Report only applies to residential mortgage lenders; however, please complete page 2 of the form indicating you are a broker; then sign, scan and submit to Holden.Inquiries@dfpi.ca.gov.
- I did not make any loans in the previous year. Do I need to file anything?
Yes, complete page 2 of the form indicating you did not have any activity in the previous year; then sign, scan and submit to Holden.Inquiries@dfpi.ca.gov.
- When is the report due?
Annually on March 31.
- I just received my CRMLA License in the current year. Do I need to file the report?
- I did not make any loans to purchase residential property. Do I need to complete the report?
Perhaps. The loans which are covered are loans for financial assistance which means a loan or advance of credit secured by property where more than 50 percent of the proceeds are for the purchase, construction, rehabilitation, improvement or cash out refinancing of a housing accommodation. Licensees making residential mortgages should consult with their internal compliance officers regarding whether they are required to file the state report.