Utah passed a bill clarifying the timing requirement under the Utah Residential Mortgage Practices and Licensing Act for submitting a quarterly report of condition. Under the bill, an entity licensed under the URMPLA must submit a quarterly report of condition to the NMLS within 75 days of the end of the entity’s fiscal quarter. The bill also clarifies the licensing requirement for loan processors and underwriters under the URMPLA. The bill becomes effective 60 days after the Utah legislature adjourns (on or around May 09, 2017).
See Utah State Legislature website for the full text of the Statute
