(a) Annually, on or before a date established by the department by regulation, a mortgage licensee and a registered depository institution shall file a report with the department providing relevant information that the department requires concerning the business and operations of the mortgage licensee or registered depository institution. The mortgage licensee and the registered depository institution shall make the report under oath or on affirmation. The content and form of the report shall be established by the department by regulation.
(b) A mortgage licensee who or registered depository institution that fails to file a report as required by this section is subject to a civil penalty of $25 for each day's failure to file the report.
(c) A mortgage licensee and a registered depository institution shall submit to the registry, as required by the registry, reports of the condition of the licensee or registered depository institution, which must be in the form and contain the information that the registry may require.
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