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How to fill out the Re881 online
The Re881 is an essential form for reporting mortgage loan brokerage and trust deed transactions. This guide provides step-by-step instructions to help you accurately complete the form online.
Follow the steps to fill out the Re881 with ease.
- Click ‘Get Form’ button to obtain the form and open it in an editing tool.
- Enter the name of the reporting broker, which can be either a corporation or an individual. Ensure that this information is accurate as it represents the entity responsible for the report.
- Fill in the principal business address where the mortgage loan activities are conducted. This includes the complete address for proper identification.
- Specify the reporting period by indicating the start date (from) and the end date (to). Use the format of month, day, and year.
- Report the data for Article 7 loans and other loans. Input the number, aggregate principal amount, and total commissions received from all loans originated as an agent. Ensure to distinguish between the two types of loans.
- Proceed to fill out the section regarding loans originated as an agent. Here, detail the total loans and provide information about multiple lender loans, refinancing loans, and balloon payment loans.
- For each loan category specified, provide the necessary statistics such as aggregate principal amounts, the number of loans, and commissions received.
- Complete sections on costs and expenses paid by borrowers in loan originations and loans used for the broker’s benefit. Include relevant figures in the areas provided.
- Fill out the sales of real property sales contracts and note if these transactions were done as an agent or principal. Record the number and aggregate selling price.
- Sign the form to certify that the information provided is accurate. Include the printed name, license number, business telephone number, and the date of signing.
- Once completed, review all entered information for accuracy. Save the changes, then choose to download, print, or share the form as needed.
Complete the Re881 form online today to ensure accurate reporting of your mortgage loan activities.
The most commonly reported complaint in mortgage lending involves issues with communication. Borrowers often express frustration about not receiving timely updates or clear explanations of the process. This lack of transparency can lead to confusion and dissatisfaction. Platforms like Re881 aim to improve communication between lenders and borrowers to address these concerns effectively.
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