What regulators require
Three sets of rules can apply to the same company:
- NMLS. The NMLS filing guide says licensees submit an annual financial statement within 90 days of fiscal year end. The type of statement (audited, reviewed or compiled) is set by each state agency.
- Your state regulator. Each state can set its own deadline and report type for each license. Requirements differ for mortgage lenders, brokers, servicers and money transmitters.
- HUD, for FHA-approved lenders. Under 24 CFR 202.5(g), FHA lenders give HUD audited financial statements within 90 days of fiscal year end, with an exception in 24 CFR 202.6(c). HUD’s annual recertification in LEAP is due within 90 days of fiscal year end. Adjusted net worth requirements are in 24 CFR 202.5(n).
If you hold licenses in several states, the earliest deadline and the strictest report type usually set your audit schedule.
Virginia and Maryland
Virginia. The SCC Bureau of Financial Institutions says:
- Money transmitters upload audited financial statements in NMLS within 105 days of fiscal year end. They must cover the prior 12-month fiscal period and follow GAAP.
- Mortgage lenders and brokers upload a year-end financial statement in NMLS by March 31 each year. Standard filers also submit the Financial Condition part of the Mortgage Call Report within 90 days of fiscal year end. Fannie Mae, Freddie Mac and Ginnie Mae filers submit it quarterly.
Maryland. The Office of Financial Regulation lists its license checklists in NMLS. Check your state’s NMLS checklist for your license type to confirm the report type and due date.
How the filing works in NMLS
- Log in to NMLS, open the Filing tab and choose Financial Statement.
- Create a filing, set the period type to Annual and enter the fiscal year.
- Complete the financial information. Amounts are rounded to the nearest dollar and must match the statements.
- Complete the Accountant Information section if a CPA firm audited, reviewed or compiled the statements.
- Upload the full package as a searchable PDF under 8MB.
- Resolve any completeness checks, review the attestation and submit.
FHA lenders submit financial statements to HUD separately, in LEAP. HUD’s LEAP page also links an agreed-upon procedures preview. See agreed-upon procedures.
How it works with us
Best for: mortgage lenders, brokers, servicers and money transmitters that must file audited or reviewed financial statements in NMLS, and FHA lenders that report to HUD.
- Free initial consultation. Share your license list, fiscal year end and each state’s requirement.
- Fees quoted upfront, in writing. Transparent, fair fees in an engagement letter that names the report type for each regulator.
- Deadline map. We list each due date so the audit is planned around the earliest one.
- Fieldwork, done remotely. We test loans held, warehouse lines, escrow and custodial balances, revenue and net worth.
- Report. We issue the report and the details you need for the NMLS Accountant Information section.
Financial statement requirements by license type
| License type | Typical requirement | Where to confirm |
|---|---|---|
| Mortgage lender, broker or servicer (any state) | Annual financial statement in NMLS. NMLS guide says within 90 days of fiscal year end; each state sets audited, reviewed or compiled. | NMLS state licensing requirements |
| Virginia mortgage lender or broker | Year-end financial statement in NMLS by March 31. Standard filers also file the Financial Condition call report within 90 days of fiscal year end. | Virginia SCC periodic reporting |
| Virginia money transmitter | Audited GAAP financial statements for the prior 12-month fiscal period, in NMLS within 105 days of fiscal year end | Virginia SCC periodic reporting |
| Maryland licensees | Set by the Office of Financial Regulation for each license type | NMLS checklist for Maryland |
| FHA-approved lender | Audited financial statements to HUD within 90 days of fiscal year end (24 CFR 202.5(g)); annual recertification in LEAP; adjusted net worth (24 CFR 202.5(n)) | HUD LEAP |
Expert CPAs. Personal attention.
License renewal riding on your audited financials? Share your license list in a free initial consultation and we'll map every deadline.
Frequently asked questions
The NMLS filing guide says licensees submit an annual financial statement within 90 days of fiscal year end. Each state can set its own deadline and decides whether the statement must be audited, reviewed or compiled. Check the requirements for each state where you hold a license.
Yes. The Virginia SCC Bureau of Financial Institutions says money transmitter licensees must upload audited financial statements in NMLS within 105 days of fiscal year end. The statements must cover the prior 12-month fiscal period and follow GAAP.
The Virginia SCC says mortgage licensees upload a year-end financial statement in NMLS by March 31 each year. Standard filers also submit the Financial Condition part of the Mortgage Call Report within 90 days of fiscal year end. Check your NMLS checklist for whether the statement must be audited.
Under 24 CFR 202.5(g), an FHA-approved lender must give HUD a copy of its audited financial statements within 90 days of fiscal year end, except as allowed in 24 CFR 202.6(c). HUD says lenders complete annual recertification in LEAP within 90 days of fiscal year end. Net worth requirements are in 24 CFR 202.5(n).
In NMLS, open the Filing tab, choose Financial Statement, create an Annual filing and enter the fiscal year. Complete the financial information and the Accountant Information section, then upload the full package as a searchable PDF under 8MB, resolve any completeness checks and submit.
Only if your state accepts a review for your license type. Some states require an audit, some accept a review and some accept less. Check the NMLS requirements for each state before you engage a CPA firm.
Sources
- NMLS: Submitting Annual Financial Statements (company user guide)
- NMLS: State licensing requirements
- Virginia SCC Bureau of Financial Institutions: Periodic reporting
- Maryland Office of Financial Regulation: Mortgage lenders, brokers and servicers
- 24 CFR 202.5: FHA lender approval requirements (financial statements, net worth)
- HUD: Single Family Lender Electronic Assessment (LEAP)
General information as of October 10, 2026. Tax rules change; talk to a CPA about your situation.