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Filing the Annual Financial Condition Report
at year-end can be a difficult task when the normal year-end duties are still
required to be completed in a timely manner. Many brokers do not have the staff
to correctly complete the in-house bookkeeping functions plus all of the other
functions required for year-end.
In order to reduce some of the year-end cost burdens
for small to medium size mortgage originators, we have reduced our cost from $650
down to $600 to compile and upload your Annual Standard financial Condition
Report. This cost will be extended for the 90 days period required to file the
report. The regular cost of $650 will be charged for all filing after the 90
days filing period. Please note the we are not providing the expanded report services at this
time.
If you do not file this
report, you may be subject to a fine by your state agency or risk the renewal
of your MLO license when due. To remove any ongoing deficiency, originators
will be required to comply with the regulations.
This
one-time Special Offer also includes a FREE AUDIT Test of all of your prior
filed MCR reports to determine if any of your reports have data content and
process errors within the reports. Many Lenders and Brokers have filed their MCR
reports using their in-house Loan Origination System, and have filed reports that
are incorrect and are not aware of it. However, the company is responsible for
filing a correct report each quarter. Eventually, you may be required to
correct these reports with a short time-line to complete them.
QCP Systems' MCR program
covers every detail of the report as outlined by the NMLS Registry Systems. If
errors are found within any quarter, we offer a one-time discount (without a
contract) to amend your reports and upload a new report to the NMLS Registry.
Payment for filing an amended MCR report must be paid before any service is
rendered. If you decide to have QCP Systems to prepare your MCR reports going
forward, a contract will be required at the normal price per quarter for this
service. Please see our price list for MCR services. Click here.
IMPORTANT NOTE: In order to file your Annual
Standard Financial Condition report, all prior quarterly MCR reports in that year must
have been filed with the NMLS Registry.
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