Code of Colorado Regulations
700 - Department of Regulatory Agencies
725 - Division of Real Estate
4 CCR 725-3 - MORTGAGE LOAN ORIGINATORS AND MORTGAGE COMPANIES
Chapter 8 - NATIONWIDE MULTISTATE LICENSING SYSTEM AND REGISTRY ("NMLS")

A. A Mortgage Loan Originator may challenge information entered into the NMLS by the Division.

B. The challenge must be in writing and set forth the specific information being challenged along with any supporting evidence.

C. The grounds for a challenge will be limited to the factual accuracy of the information pertaining to the Mortgage Loan Originator's own license record.

D. A challenge submitted to appeal the underlying grounds for a disciplinary action will not be considered by the Director.

A. The Director, or an authorized representative of the Director, will review all information submitted by the Mortgage Loan Originator and will determine the merits of the challenge.

B. If the Director, or the Director's authorized representative, determines that the information submitted to the NMLS by the Division is factually incorrect, the Division will promptly submit the correct information to the NMLS.

A. A Mortgage Loan Originator may appeal the Director's, or the Director's authorized representative's, decision regarding the challenge to the Board within thirty (30) calendar days of the decision being rendered.

B. The decision of the Board regarding a NMLS challenge is subject to judicial review by the court of appeals by appropriate proceedings under section 24-4-106(11), C.R.S.

A. A Mortgage Company must identify the applicable NMLS Mortgage Call Report. This includes, but is not limited to, the standard section and the expanded section of the NMLS Mortgage Call Report. The Mortgage Company must identify and complete the report on behalf of all employed Mortgage Loan Originators or other Mortgage Loan Originators that operate through their Mortgage Company.

B. The quarterly report is due within forty-five (45) calendar days of the end of the calendar quarter and the financial condition report of the standard section is due annually ninety (90) calendar days from the Mortgage Company's fiscal year end.

C. Mortgage Companies must comply with any rules, policies and procedures relating to the submission of a Mortgage Call Report that are prescribed by the NMLS.

D. Failure to properly submit a NMLS Mortgage Call Report in a timely manner prescribed by the NMLS will prevent the Mortgage Company from renewing their NMLS registration.