Washington State Department of Financial Institutions

Consumer Loan Company Annual Assessments

Important Deadlines and Information


Online Assessment System and Workbook


About the Assessment System

In an effort to streamline the filing process, DFI has launched an online assessment filing system. This system will allow you to file both the Annual Assessment Report (AAR) and the Consolidated Annual Report (CAR) as well as make your payment via E-Check, Visa or MasterCard.

How does the online assessment filing system work?
Your company will provide your 2013 loan data and enter it into a Pre-Formatted Excel Workbook provided by DFI. Someone in your company then uploads your completed Loan List Workbook into the online assessment filing system. The system will email that individual a unique link, the link will return you to the system to review the annual reports, attest to the accuracy, and make an electronic payment.

What data must I provide to file my annual assessment reports?
You will be required to report all Washington loan activity during 2013 in an Excel pre-formatted Loan List Workbook provided by DFI. See: Loan List Workbook (Excel).

Can I provide my 2013 loan data in any format?
No. The online assessment filing system requires that you use the DFI provided Loan List Workbook to report your loan data. You need to prepare your data in DFI’s Excel format to successfully transfer data into DFI’s Excel workbook and avoid errors and delays completing your assessment filing.

DO NOT DUPLICATE THE WORKBOOK. IF YOU DO YOU WILL CREATE A SYSTEM ERROR AND YOU WILL NOT BE ABLE TO SUBMIT THE WORKBOOK.

Am I required to use the online assessment filing system?
Yes. DFI requires all Consumer Loan licensees to file their annual assessment reports and make payment through the online assessment filing system. DFI will not accept paper filings or physical checks.

What can I do right now to prepare to file my annual assessment reports?
There are several things you can do right now to ensure a smooth and successful annual assessment filing:


Workbook and Online Assessment Dos and Don'ts

Do:

Don’t:

*Doing any of the above actions prior to uploading your workbook could cause the system to reject your workbook or populate incorrect information.


Annual Assessment Information

What if I did not do any business in Washington during the 2013 calendar year?
Consumer Loan Licensees must file both the AAR and the CAR even if they did NO business in Washington State during 2013. Both the AAR and CAR must be filed, even if no annual assessment fee is due. You will need to upload a blank workbook, and complete your annual assessment filing through the system in order for it to be considered a complete filing.

What constitutes a complete and timely filing of the AAR and CAR?
You must electronically submit your worksheets and payment of your annual assessment on or before Monday, March 3, 2014. DO NOT SUBMIT AAR AND CAR REPORTS IN PAPER FORM.

In addition to electronic submission of the AAR and CAR, you must also file your 2013 financial statements via the NMLS no later than March 31, 2014. Financial statements must be prepared in accordance with GAAP and contain both a balance sheet and income statement. Please visit our NMLS Mortgage Call Reports webpage for more information.

What if I fail to deliver my complete filing by the March 3, 2014, deadline?
If you upload your AAR, CAR, or Payment after the March 3, 2014 due date, you will be assessed a late penalty of $50.00 per item, for each day of delay. Payment of late fees will be billed and paid through NMLS.

What transactions do I include on the AAR?
The AAR includes all Washington residential mortgage loans secured by first and junior liens, to include business, commercial, or agricultural loans secured by a lien on the borrower's primary residence, and non-mortgage loans:

What loans in my portfolio from the previous year do I include in the AAR?
You must include Washington loans that you made or purchased and have not been transferred off of your warehouse line or out of your portfolio as of the last day of each year. Loans carried over into the next year will be assessed in that next year. Other examples Include: Washington loans held for servicing with or without servicing rights, loans repurchased, and loans securitized for investment.

Why do I include the loans in my portfolio from the previous year on the AAR?
WAC 208-620-440(2)(a) requires the principal loan balance on Washington loans in your loan portfolio on December 31st of the prior year to be counted in the assessment calculation.

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

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