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Division of Banks - Mass.Gov

VIEWS: 40 PAGES: 9

									                                Commonwealth of Massachusetts
                                            DIVISION OF BANKS
                                     1000 Washington Street, 10th Floor
                                       Boston, Massachusetts 02118
                           MORTGAGE LENDER (MC & ML) QUARTERLY REPORT
                                     (form not to be used for annual report)

  PLEASE NOTE: Quarterly Reports must be submitted on a calendar year basis, not on a
                                  fiscal year basis

        Check one: Quarter Ended 3/31/10 ___ 6/30/10 ___ 9/30/10 ___ 12/31/10 N/A see *
           *Complete annual report form for calendar year end, not quarterly report form.

                  TO BE FILED WITHIN 45 DAYS OF THE END OF QUARTER
   (You may download this form from the Division’s web page at http://www.mass.gov/dob under
                                      Industry Services.)

Name of Licensee       ________________________________ License # MC                 or ML

Please be advised that the Licensee is required to keep all information on the Nationwide Mortgage
Licensing System current and up to date.


       The undersigned is authorized to attest that the attached financial statements along with the other
schedules of the report have been prepared in conformance with the issued instructions and are true to the
best of their knowledge and belief. This report must be signed by an authorized officer and must be
attested to by at least one director.

        We, the undersigned directors, attest to the correctness of the attached financial statements and the
other schedules of the report and declare that they have been examined by us and to the best of our
knowledge and belief have been prepared in conformance with the instructions issued and are true and
correct.

___________________________________                _________________________________/___/___
Signature of authorized officer                       Typed name and title     Date signed

___________________________________                ________________________________/___/____
Signature of director                                 Typed name and title     Date signed

___________________________________                ________________________________/___/____
Signature of director                                 Typed name and title     Date signed

On this _______ day _________________, __________, before me, the undersigned notary public,
personally appeared the above named and proved to me through satisfactory evidence of identification,
which was/were the person(s) whose name(s) is/are signed on this document, and acknowledged to me
that he/she/they signed it voluntarily for its stated purpose.

My Commission Expires:
            (Seal)                                        ______________________________________
                                                              Notary Public

                                                      1
1.)    Fiscal Year End used by the Licensee: _____________________________

2.)     During the current fiscal quarter, has the Licensee serviced any mortgage loans, including loans that
       the Licensee originated?                    YES _______           NO _______

       If you answered YES, you must complete the DELINQUENT & NONINTEREST EARNING LOANS
       and PAST DUE LOANS tables on pages 4-5 and the SERVICING PORTFOLIO table on pages 5-6,
       respectively.

3.)    At any time during the current quarter has the Licensee had access to a warehouse line of credit to
       close loan applications?                   YES _______          NO _______

       If you answered YES, you must complete the WAREHOUSING & RELATED LINES OF CREDIT
       table on page 6.

4.)     At any time during the current fiscal quarter has the balance of any of the Licensee‟s warehouse
       lines of credit exceeded its limit, been suspended or terminated, or have any covenant(s) of the
       Licensee‟s warehouse line agreements been violated? YES _______                     NO _______

       If you answered YES, please attach an explanation.

5.)    During the current fiscal quarter has the Licensee been required to repurchase any loans?
                                                      YES _______               NO _______

       If you answered YES, you must complete the REPURCHASED LOANS table on page 7.

6.)    Does the Licensee report certain data regarding home applications, originations, and purchases to
       the Department of Housing and Urban Development (HUD) under the Home Mortgage Disclosure
       Act (HMDA)?
                                                 YES _______           NO _______

7(a)    Does the Licensee act in the capacity of a MORTGAGE LENDER in reverse mortgage
       transactions?
                      YES _______            NO _______
       * If the Licensee is acting as a MORTGAGE LENDER, list the investors to whom reverse mortgage
       loans are sold to and/or assigned.
       ____________________________________________________________________
       ____________________________________________________________________
       ____________________________________________________________________

7(b)     Does the Licensee act in the capacity of a MORTGAGE BROKER in reverse mortgage
       transactions?
                     YES _______       NO _______
       * If the Licensee is acting as a MORTGAGE BROKER, list below the lender(s) to which reverse
       mortgages are brokered.
       ____________________________________________________________________
       ____________________________________________________________________

                                                     2
        ____________________________________________________________________

                                               FINANCIAL STATEMENTS
Licensees are required to submit, on a quarterly basis, financial statements that include a Statement
of Condition (Balance Sheet) and a year-to-date Income Statement. The financial statements for the
quarterly reports are not required to be audited, but must be prepared in accordance with Generally
Accepted Accounting Principles (“GAAP”); and may be prepared internally or by an independent
certified public accountant (“CPA”).

However, licensees are reminded that mortgage lenders are required to submit AUDITED financial
statements within ninety (90) days of the end of their fiscal year, prepared by an independent CPA in
accordance with GAAP, and in accordance with Generally Accepted Auditing Standards (GAAS).
Financial statements must include a Balance Sheet, Income Statement, and a Statement of Cash
Flows and all relevant notes thereto. In addition, if the Licensee is a subsidiary, the Licensee must
also submit the consolidated financial statements of the parent company for the same period.

Please be advised that licensees should not mail paper financial statements to the Division. Rather,
licensees are required to file financial statements, for both the quarterly and annual reporting
periods, as PDF files through the Nationwide Mortgage Licensing System (NMLS). Further
information and instruction regarding the electronic submission of financial statements through NMLS is
available on the NMLS website at www.stateregulatoryregistry.org




                                               PRODUCTION REPORT

                                       For the Quarter ended ____________________

        IN-HOUSE ORIGINATED LOANS: The dollar amount and number of loans originated by, not purchased by, the Licensee.
        Includes closed loans only. Loans in the origination process are NOT included. Loans for which the company acted solely as
        a brokering agent are NOT included in this schedule.
        1-TO-4 FAMILY RESIDENCES: 1-to-4 unit residential mortgage loans including various loan types (FHA, VA, Conventional
        Fixed-Rate, or Conventional ARM).

NOTE: This section pertains to Massachusetts residential property as defined by M.G.L. c. 255E, §1, only.

  In House Originated Loans                                            BIL           MIL         THOU         # OF LOANS

  1-4 Family Residences

  First Mortgages.............................................       _______     _______       _______        __________
  Second Mortgages........................................           _______     _______       _______        __________

  Open End Equity Lines.................................             _______     _______       _______        __________

  Reverse Mortgages…………………………..                                      _______     _______       _______        __________
  Total 1-4 Family Residences......................                  _______     _______       _______        __________




                                                                 3
If you answered YES to Question #2, complete the Delinquent & Non-interest Earning Loans and Past Due
Loans tables below:

                       DELINQUENT & NONINTEREST EARNING LOANS
                               (90 OR MORE DAYS PAST DUE)
                                        As of the Quarter ended ___________________

          DELINQUENT AND NONINTEREST EARNING LOANS: The dollar amount and number of all loans in the Licensee‟s
          SERVICING portfolio whose interest payments are 90 or more days past due, are not earning interest, or are otherwise in
          default. Foreclosed property is considered Real Estate Owned and should not be included in delinquency figures.
          Foreclosure occurs when title to the property is received. Loans in the process of foreclosure should be included in
          delinquency reporting.


Note: The information in this section should represent national data:

                                                                         BIL           MIL         THOU         # OF LOANS

1-4 Family Residences

First Mortgages................................................        _______      _______       _______       __________
Second Mortgages..........................................             _______      _______       _______       __________
Open End Equity Lines...................................               _______      _______       _______       __________
Total Delinquent & Nonint. Earning Loans ..                            _______      _______       _______       __________



Note: The information in this section should represent Massachusetts data only:

                                                                         BIL          MIL          THOU        # OF LOANS

1-4 Family Residences

First Mortgages.................................................       _______     _______       _______       __________

Second Mortgages............................................           _______     _______       _______       __________

Open End Equity Lines.....................................             _______     _______       _______       __________

Total Delinquent & Nonint. Earning Loans ..                            _______     _______       _______       __________




                                                                   4
                                                        PAST DUE LOANS
                                         As of the Quarter ended ____________________

            PAST DUE LOANS: A loan will be considered „past due‟ for the purpose of this Quarterly Report when the borrower fails to
            submit a scheduled payment for 30-90 days after the date scheduled for payment.

   Note: The information in this section should represent national data:


                                                                              BIL           MIL          THOU         # OF LOANS

1-4 Family Residences

30-60 days past due.........................................              _______        _______       _______        __________

60-90 days past due.........................................              _______        _______       _______        __________

Total Past Due Loans ....................................                 _______        _______       _______        __________



   Note: The information in this section should represent Massachusetts data:

                                                                              BIL           MIL          THOU         # OF LOANS

1-4 Family Residences

30-60 days past due.........................................              _______        _______       _______        __________

60-90 days past due.........................................              _______        _______       _______        __________

Total Past Due Loans ....................................                 _______        _______       _______        __________




   If you answered YES to Question #2, complete the Servicing Portfolio table below:

                                                SERVICING PORTFOLIO

                                         As of the Quarter ended ____________________
   The items in this section constitute the entire portfolio of loans for which the Licensee provides servicing.
           SERVICING FOR COMPANY AND NONAFFILIATES: The unpaid balance (UPB) in the dollar amount and number of loans
           for which the Licensee provides servicing. Include loans originated by the Licensee and kept in portfolio as well as loans and
           servicing rights purchased.
           1-TO-4 FAMILY RESIDENCES: 1-to-4 unit residential mortgage loans including various loan types (FHA, VA, Conventional
           Fixed-Rate, or Conventional ARM).
           UPB OF MA LOANS SUBSERVICED FOR OTHERS: Massachusetts loans that the Licensee is servicing, as a
           subcontractor, for other servicing companies.




                                                                     5
            UPB OF MA LOANS SUBSERVICED BY OTHERS: Massachusetts loans that are serviced by other companies, as
            subcontractors, for the Licensee.

NOTE: This section pertains to Massachusetts residential property as defined by M.G.L. c. 255E, §1, only.

                                                                              BIL        MIL      THOU     # OF LOANS


   1-4 Family Residences

   First Mortgages................................................          _______    _______   _______   __________
   Second Mortgages..........................................               _______    _______   _______   __________
   Open End Equity Lines...................................                 _______    _______   _______   __________
   Total 1-4 Family Residences.........................                     _______    _______   _______   __________


   UPB* of MA Loans Subserviced for Others.....                             _______    _______   _______   __________
   UPB* of Loans Subserviced by Others............                          _______    _______   _______   __________




  If you answered YES to Question #3, complete the Warehousing & Related Lines of Credit table below:

                                WAREHOUSING & RELATED LINES OF CREDIT

                                           As of the Quarter ended ___________________


  List the lending institution, total available amount, outstanding balance and expiration date of the
  Licensee’s four largest warehouse lines of credit. If the Licensee maintains fewer than four lines of
  credit, please list all.
  Warehouse Lines                                                      TOTAL LINE        OUTSTANDING       EXP. DATE
                                                                                           BALANCE
  1) _________________________________                               $______________   $______________     __________

  2) _________________________________                               $______________   $______________     __________

  3) _________________________________                               $______________   $______________     __________

  4) _________________________________                               $______________   $______________     __________




                                                                        6
If you answered YES to Question #5, complete the Repurchased Loans table below:


                                                  REPURCHASED LOANS

                                        As of the Quarter ended ___________________

         REPURCHASED LOANS: Any mortgage loan that the licensee was required to buyback, or repurchase, under the terms
         of any sale or transfer agreement with an investor (collectively, the “Agreement”) governing such loans. The obligation to
         buyback the mortgage loan(s) may have been initiated by the occurrence of certain events including, without limitation, the
         Licensee‟s breach of any representation, covenant, or warranty of the Agreement(s); a defect in the origination of the
         mortgage loan; or any other condition(s) set forth in the Agreement(s).


Note: The information in this section should represent national data:

                                                                          BIL            MIL         THOU         # OF LOANS

1-4 Family Residences

First Mortgages................................................        _______       _______        _______       __________
Second Mortgages..........................................             _______       _______        _______       __________
Open End Equity Lines...................................               _______       _______        _______       __________

Total Repurchased Loans…………………...                                      _______       _______        _______       __________




Note: The information in this section should represent Massachusetts data:

                                                                          BIL            MIL         THOU         # OF LOANS

1-4 Family Residences

First Mortgages................................................        _______       _______        _______       __________
Second Mortgages..........................................             _______       _______        _______       __________
Open End Equity Lines...................................               _______       _______        _______       __________

Total Repurchased Loans…………………...                                      _______       _______        _______       __________




                                                                  7
                                                              PIPELINE REPORT
                                              As of the Quarter ended _________________

           TOTAL COMMITMENTS: – Aggregate of agreements between lender and borrower to loan money at a future date.

           FALL OUT RATE: – Loans that did not close for the following reasons as a percentage of closed loan inventory:
                  1) Applicant and/or property were not approved by underwriter.
                  2) Property did not sell.
                  3) Applicant chose a competitor.

FUNDING SOURCES                                                                                                     Amount


1. Portfolio..............................................................................................   $ ___________________

2. Other Funding Sources, excluding table funding
      (i.e., FNMA, lines of credit, affiliates ,etc.).....................................

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

                        Total Other Funds........................................................            $ ___________________

3. Table Funded Loans (list investors)...................................................

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________

_______________________________________________________                                                      $ ___________________


                        Total Table Funds........................................................            $ ___________________

                       Total Available Funds ................................................                $ ___________________

Total Mortgage Commitments                               $ _______________________ # of Loans ___________

Total Massachusetts Commitments $ _______________________ # of Loans __________

Fall out rate for the fiscal quarter ended ______________________:                                           ______________%
                                                                                 8
                                               BROKERED LOAN REPORT

                                       For the Quarter ended _____________________


Lenders who also hold a broker’s license must complete this section. Only list loans for residential property
                  in Massachusetts where you did not appear as the lender on the note.


Brokered Loans                                                          BIL       MIL      THOU     # OF LOANS
1-4 Family Residences
First Mortgages................................................       _______   _______   _______   __________
Second Mortgages..........................................            _______   _______   _______   __________
Open End Equity Lines...................................              _______   _______   _______   __________
Reverse Mortgages…………………………….                                         _______   _______   _______   __________
Total Massachusetts Brokered Loans........                            _______   _______   _______   __________




                                                                  9

								
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