By when must a residential mortgage lender or servicer submit the report for annual assessment calculation if their fiscal year ends on December 31?

The correct time frame for a residential mortgage lender or servicer to submit the report for the annual assessment calculation, if their fiscal year ends on December 31, is January 31. This deadline is established to ensure that the necessary information is collected in a timely manner after the conclusion of the fiscal year.

Submitting the report by January 31 allows the relevant regulatory bodies to begin their assessment processes without delay, ensuring compliance and facilitating any necessary actions that may arise from the assessment findings. This timing is crucial for maintaining regulatory oversight and ensuring that any financial assessments or levies can be accurately calculated and imposed in accordance with state regulations.

The importance of submitting by this date underscores the need for organizations to prepare their financials promptly following the end of the fiscal year, ensuring that the regulatory timelines are met without exception. Therefore, the choice of January 31 reflects a standard practice within financial reporting and compliance requirements for entities monitored under the NMLS framework.