(a) For the purpose of meeting the cost of regulation under this Article, each mortgage lender, mortgage broker, and mortgage servicer licensed under this Article shall pay into the OCOB an assessment as provided in this subsection. The annual assessment shall consist of a base amount of two thousand dollars ($2,000) for volumes of no more than one million five hundred thousand dollars ($1,500,000) plus an additional sum, calculated on the loan and servicing dollar volume reported by the licensee to the OCOB for the previous calendar year. If a licensee has both loan and servicing volume, those amounts shall be added together and the assessment shall be calculated from the table below as follows:
Loan and/or Servicing Dollar Volume Per Thousand
$1,500,001 to $2,500,000 $0.07
$2,500,001 to $5,000,000 $0.06
$5,000,001 to $10,000,000 $0.05
$10,000,001 to $30,000,000 $0.04
$30,000,001 to $100,000,000 $0.03
$100,000,001 to $1,300,000,000 $0.02
More Than $1,300,000,001 $0.01
(b) The Commissioner may collect the assessment provided for in subsection (a) of this section annually or in periodic installments as approved by the Commission. (2012-37, s. 1.)
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Last modified: March 23, 2014