2020 Mortgage Company Limited Annual Report
Due April 1, 2021
Pursuant to K.S.A. 9-2216a et seq., all Mortgage Company (MC) Licensees are required to file an annual written report with the Kansas Office of the State Bank Commissioner (OSBC). The standard NMLS mortgage call report (MCR) filings currently do not include an itemization of state-specific servicing data. A Kansas mortgage company licensee to which your email address is associated has been deemed to fall under both situations below:
- Company files the standard quarterly MCR form, and
- Company engages in Kansas mortgage servicing or purchasing or notates such Kansas activities in its NMLS MU1 filing.
The 2020 Annual Report form is available at the link below. Only one annual report form is due per company. If your company has branches, report all company information on one form.
2020 Credit Services Organization Renewal and Annual Report
Due April 1, 2021
Pursuant to K.S.A. 50-1118 et seq., all Credit Services Organization (CSO) Licenses shall expire on April 30 of each year. CSOs are required to renew annually with the Kansas Office of the State Bank Commissioner (OSBC) at least 30 days prior to expiration. To finish the renewal process, please complete the following:
- Pay renewal invoice $150 prior to April 1, 2021 in NMLS.
- Complete the 2020 Credit Services Organization Annual Report and return to email@example.com or mail to 700 SW Jackson, Topeka, KS 66603.
- Ensure most recent audited or reviewed financial statements are uploaded to NMLS. The fiscal year-end should be no earlier than December 31, 2019.
- Update and verify all information is up to date including officers and key management in NMLS.
2020 Supervised Loan Licensee Annual Report
Due April 15, 2021
Pursuant to K.S.A. 16a-1-101 et seq., all Supervised Loan (SL) Licensees are required to file an annual written report with the Kansas Office of the State Bank Commissioner (OSBC). The 2020 Annual Report form is available at the link below. Only one annual report form is due per company. If your company has branches, report all company information on one form.
Company, Individual, or Branch Applications
The Nationwide Multi-state Licensing System is used for applications/renewals for the following licensee types:
- Mortgage Lenders and Brokers
- Loan Originators
- Supervised Lenders
- Payday Lenders
- Debt Buyers
- Credit Service Organizations
- Money Transmitters
The NMLS website below provides step-by-step instructions on how to access the system, guides on how to complete the MU forms, tutorials and much more. If you have questions, contact the NMLS Call Center at 1-855-NMLS-123 (1-855-665-7123).
Renewal quick guide is available for license renewals through NMLS.
Money Transmitter Forms:
1.) K.S.A. 9-509(e)(2) requires licensees to deposit and at all times keep on deposit with a bank in this state approved by the commissioner, cash or securities satisfactory to the commissioner in an amount not less than $200,000. The commissioner may increase the amount of cash or securities required up to a maximum of $1,000,000 upon the basis of: (A) The volume of money transmission business transacted in this state by such person; or (B) the impaired financial condition of a licensee, as evidenced by a reduction in net worth or financial losses. In lieu of the deposit of cash or securities required, a licensee may give a surety bond in an amount equal to that required for the deposit of cash or securities, in a form satisfactory to the commissioner and issued by a company authorized to do business in this state. The cash and securities required or in lieu, the surety bond requirements effective July 1, 2015 are as follows:
The greater of:
- $200,000 OR
- The licensee’s total transaction volume in Kansas (as of the most recent year-end) times 0.25%
Who must file notification?
- Those who extend credit to which a finance charge is added to the actual cost of goods or services;
- Those who add a service or carrying charge to an account as a cost of deferring payment
- Those who prepare retail installment contracts and assign these contracts to a third party
- Those who extend credit according to a written agreement which permits payments in more than four installments, even though no finance charge is added
- Those who purchase retail installment contracts, loans or leases from creditors or who purchase the rights to service such transactions.
Who is exempt?
- Sellers who accept lender credit cards (e.g. bank credit cards) EXCLUSIVELY need not file.
- Creditors who sell or lend EXCLUSIVELY for business or agricultural purposes need not file. (Business purposes means a business selling to other businesses only – no consumer business
New notification filers should use the OSBC Online site below to apply.
Per K.A.R. 75-6-32, if the business name, status, or list of locations contained in the notification becomes inaccurate after filing, the person shall notify the administrator in writing within 30 days of the date of the change.
To amend an existing notification filing, please send correspondence to:
700 SW Jackson St.
Topeka, KS 66603
or via email to firstname.lastname@example.org