CRMLA Annual Report

When is this report due?
All Licensees under the California Residential Mortgage Lending Act (CRMLA) must file the report no later than March 1 annually. Failure to file the report timely may result in monetary penalties to the Licensee and/or suspension or revocation of the License.
What time period does the report cover?
The report covers calendar year. Please report the data in each category by month.
Should we report all loans made by the company? Or just California?
Only report data for California loans.
Should we report separately for each branch? Or for the company as a whole?
Each Licensee should file only 1 report. The report should include activity for all California loans at all locations.
What are the California loans processed and underwritten?
This is a very common error made on the report. These loans are those that the Licensee contracts with another lender to provide processing and underwriting services. This is also called “contract underwriting”. This category is not for Licensees to report the loan applications they received. We do not ask for application data on this report. Very few Licensees actually provide this service.
What are California loans originated?
The loans originated are those loans that the Licensee makes. These loans are those actually closed by the Licensee in their name with their funds. We also don’t ask for the source of the loan. Both retail (generated by the Licensee’s own locations) and wholesale (generated through brokers) loans must be reported together as loans originated.
What are California loans brokered?
The loans brokered are those where the Licensee acts as an agent for the borrower and arranges the loan made by another institutional lender.
What are California loans serviced?
The loans serviced are those loans which have already been made. The Licensee collects the monthly loan payments from the borrowers. The aggregate amount of loans serviced is the total principal balance of all loans outstanding as of the last day of each month for which the Licensee is providing servicing. This column needs to be totaled for all the balances for each month. We will actually need an average of the loans outstanding as of the last day of each month.

CRMLA Annual Report includes the following sections:

Report of Principal Amount of Loans Originated and Aggregate Amount Loans Serviced for the 12-Month Period Ended December 31 of the current reporting year
Report on Non-Traditional, Adjustable Rate and Mortgage Loan Products
California Foreclosure Reduction Act
Non-Traditional, Adjustable Rate and Mortgage Loan Survey

Due Date

All CRMLA licensees must file the report by March 1. No extensions will be granted. Missing the deadline may result in penalty assessments. Failure to file constitutes grounds for license revocation.

Where to file

The annual report must be completed online through the DFPI self-service portal. Please follow these steps:

Log in to Portal Account.
Click on user account name in top right.
Select “Annual, Liability, & Industry Survey Reporting.”

Reporting questions

What time period does the report cover?
The report covers calendar year. Please report the data in each category by month.
Should we report all loans made by the company? Or just California?
Only report data for California loans.
Should we report separately for each branch? Or for the company as a whole?
Each Licensee should file only 1 report. The report should include activity for all California loans at all locations.
How do I get a blank form?
The link to download a blank form is available from the reports view in the Portal. Please follow these steps:
1. Log in to Portal Account.
2. Click on user account name in top right.
3. Select “Annual, Liability, & Industry Survey Reporting”.
4. User should be directed to their reports view.
5. Link to “Download Blank Form” is above the table list of their reports.
Do not mail a paper form. The report must be submitted online.
Where can I get the Guidance on Nontraditional Mortgage Product Risks?
The Guidance is linked on page 6 of the online Annual Report.

Report Form Details

The following provides additional information on certain areas of the Report. Cross-reference the online form or a blank form. Below underlined parts are from the online form.

1a. LOANS PROCESSED, UNDERWRITTEN AND ORIGINATED

LOANS PROCESSED & UNDERWRITTEN:

These are loans that the Licensee contracts with another lender to provide processing and underwriting services. This is also called “contract underwriting”.

We do not ask for application data on this report.

This category is not for Licensees to report the loan applications they received. This category is not for Licensees to report the loans they brokered out to other lenders.

LOANS ORIGINATED:

The loans originated are those loans that the Licensee makes. These loans are those actually closed by the Licensee in their name with their funds. Both retail (generated by the Licensee’s own locations) and wholesale (generated through brokers) loans must be reported together as loans originated.

1b. LOANS BROKERED AND SERVICED

LOANS BROKERED:

The loans brokered are those where the Licensee acts as an agent for the borrower and arranges the loan made and funded by another institutional lender. These are the loans brokered out by the licensee.

LOANS SERVICED:

The loans serviced are those loans which have already been made in which the Licensee collects the monthly loan payments from the borrowers. For each month, Licensee must report the total number of loans and the total principal balance of all loans outstanding as of the last day of each month for which the Licensee is providing servicing.

17. Reduced Documentation (under NON-TRADITIONAL, ADJUSTABLE RATE AND MORTGAGE LOAN SURVEY)

A low/no documentation loan allows a potential borrower to apply for a mortgage while providing little or no information regarding their employment, income, or assets. Regulation of these loans has evolved significantly since 2008, but they remain an option for some borrowers in nontraditional financial situations.

FAQ: Would this include government loans? For example FHA Streamline or VA IRRRL? Although they are government loans, would these loans types be considered Reduced Documentation?

Answer: No, GSE loans of any type would not be considered reduced documentation, as they have to meet the minimum requirements for qualification

18. Simultaneous Second-lien Loan (under NON-TRADITIONAL, ADJUSTABLE RATE AND MORTGAGE LOAN SURVEY)

FAQ: Would this include forgivable loans such as a down payment assistance loan?

Answer: No, as a forgivable loan does not add risk in the same way an ARM might.

Publications

CRMLA Annual Reports

Contact info

If you have any questions related to Annual Reports, please contact CRMLA Exams at CRMLA.Exams@DFPI.ca.gov.

If you have any questions related to any Licensing matters, please contact CRMLA Licensing at CRMLA.Licensing@DFPI.ca.gov.

CRMLA Annual Report