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Dedicated Funding FAQs - Residential Mortgage Lender (RML)
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Please
Note: |
The
online annual reporting system will be available in February 2024. All
licensees will be receiving notifications on how to access the system
by email. All annual reports will be due May 1, 2024.
If you have
any questions, please contact
Consumer Finance Annual Reports.
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Pursuant to N.J.A.C. 3:23-4.1, all licensees are required to file an annual report to the Department of Banking and Insurance. Licensees are required to file an annual report after each calendar year in which they were licensed. Because you were licensed in 2023, you are required to file an annual report in 2024 even if you did not conduct any business in 2023, and even if you ceased doing the business activities for which you were licensed in New Jersey in 2023.
The
Department recommends downloading and printing the 2023 Annual Report
Worksheet (at right) before completing the online report.
If
you have any questions about filing your annual report, please e-mail Consumer Finance Annual Reports at bankingannualreports@dobi.nj.gov.
Thank you in advance for
your cooperation in this important matter. |
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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, 2023 through December 31, 2023.
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 01/01/2023 through 12/31/2023 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, 2024
for the January 1, 2023 to December 31, 2023 reporting period. Annual reports are expected to be filed
electronically over the Internet through the State's secure web site.
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
609-292-7272 |
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For annual report, request login credentials questions:
NJ Department of Banking and Insurance
PO Box 040
Trenton, NJ 08625
E-mail
609-940-7649 |
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OPRA is
a state law that was enacted to give the public greater access to government
records maintained by public agencies in New Jersey. |
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You will need to download the latest version of Adobe Acrobat Reader in order to correctly view and print PDF (Portable Document Format) files from this web site. |
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Copyright © State of New Jersey, 1996 -
State of New Jersey
New Jersey Department of Banking and Insurance
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