23 CAR § 301-903 – Reporting requirements

(a)
1. (1) A mortgage broker or mortgage banker licensed at any time in Arkansas during the reporting period shall file a quarterly report containing information regarding the mortgage activity in Arkansas.
2. (2) The quarterly report shall be filed on a form provided by NMLS&R, and approved by the Securities Commissioner.
3. (3) The quarterly report must be filed with the commissioner no later than forty-five (45) days from the end of every calendar quarter.
4. (4) The reporting period is the calendar quarter immediately preceding the calendar quarter in which the report is due.
5. (5) In addition, the commissioner may require the quarterly report to be supplemented with additional information about operations, characteristics of loans made, or other similar composite data if the commissioner determines that this additional information is necessary in order to protect the interests of the borrowing public.
(b)
1. (1) A mortgage servicer licensed any time during the reporting period shall file a quarterly report containing information regarding the loans in the portfolio of the mortgage servicer.
2. (2) The quarterly report shall be filed on a form provided by NMLS&R, and approved by the commissioner.
3. (3) The quarterly report must be filed with the commissioner no later than forty-five (45) days from the end of every calendar quarter.
4. (4) The reporting period is the calendar quarter immediately preceding the calendar quarter in which the report is due.
5. (5) In addition, the commissioner may require the quarterly report to be supplemented with additional information about operations, characteristics of loan services, or other similar composite data if the commissioner determines that this additional information is necessary in order to protect the interests of the borrowing public.
(c) The quarterly report required by this section shall be verified by the oath of the licensee or a principal officer thereof.
(d) Failure of a licensee to submit a quarterly report in the manner required by this section shall be grounds for discipline pursuant to the Fair Mortgage Lending Act, Arkansas Code § 23-39-501 et seq.
(e) For purposes of this section, in order to reduce points of contact, the commissioner authorizes the NMLS&R to collect and distribute the quarterly report information, unless additional information is requested by the commissioner.
(f) The commissioner may require a supplemental report detailing the aggregate amount of Arkansas mortgage loans accepted, originated, or serviced in the prior calendar year, as required by 23 CAR § 301-408, if no report is available through the NMLS&R system.