Form Re 881 PDF Details

Form Re 881 is a tax form that must be filed by all U.S. citizens and permanent residents who receive distributions from qualified retirement plans, including individual retirement accounts (IRAs). The form is used to report the amount of the distribution and to indicate whether the distribution is taxable or not. Taxpayers can use Form Re 881 to determine if they should file an income tax return for the year in which the distribution was made. In most cases, taxpayers will only need to file Form Re 881 if they received distributions totaling more than $10,000 during the year. Form Re 881 must be filed by April 15th of the year following the year in which the distribution was made. The instructions for Form Re 881 are very complex, so it is highly recommended that you seek assistance from a qualified tax professional if you have any questions about how to complete this form.

QuestionAnswer
Form NameForm Re 881
Form Length5 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min 15 sec
Other namesVII, Fractionalized, Serviceds, licensee

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STATE OF CALIFORNIA

DEPARTMENT OF REAL ESTATE

Serving Californians Since 1917

MORTGAGE LOAN/TRUST DEED

 

 

ANNUAL REPORT

 

 

RE 881 (Rev. 10/07)

 

 

NAME OF REPORTING BROKER (CORPORATION OR INDIVIDUAL)

 

 

PRINCIPAL BUSINESS ADDRESS

 

 

This report covers mortgage loan brokerage and trust deed and

FROM (MONTH, DAY, YEAR)

TO (MONTH, DAY, YEAR)

 

real property sales contract transactions for the period:

 

 

During the reporting period, mortgage loan/trust deed business activities were conducted by the reporting broker and his afiliates at the following address(es) in addition to the principal business above:

Report Data

I.LOANS ORIGINATED AS AGENT [B&P Code §10131(d)]

TOTAL LOANS

Number ............................................................................................................

Aggregate Principal Amount............................................................................

Total Commissions Received from All Loans Originated as Agent ................

A. MULTIPLE LENDER LOANS (Fractionalized)k

1)Total Number of Loans......................................................................

2)Aggregate Principal Amount.............................................................

3)Aggregate Number of Investors ........................................................

Article 7 Loans j

Other Loans

_______________

_______________

$______________

$______________

$______________

$______________

_______________

_______________

$______________

$______________

_______________

_______________

B.LOANS TO REFINANCEl LOANS PREVIOUSLY NEGOTIATED BY REPORTING BROKER OR AFFILIATEm

1)Number..............................................................................................

2)Aggregate Principal Amount.............................................................

C.BALLOON PAYMENT AND INTEREST-ONLY LOANS

1)Number..............................................................................................

2)Aggregate Principal Amount (at maturity)........................................

D.LOANS COVERED UNDER FINANCIAL CODE SECTION 4970™11

1)Number..............................................................................................

2)Aggregate Principal Amount ............................................................

_______________

_______________

$______________

$______________

_____________

_______________

$______________

$______________

_______________

_______________

$______________

$______________

See page 5 for explanation of footnotes.

RE 881

Page 2 of 5

 

 

BROKER'S NAME

 

 

 

 

 

Article 7 Loansj

Other Loans

II.LOANS ORIGINATED AS PRINCIPAL (FUNDED BY BROKER) FOR RESALE [B&P Code §10131.1]

TOTAL LOANS

Number ............................................................................................................

Aggregate Principal Amount

$

$

Loan Origination Fees (Points) of all Loans Originated as Principal Funded

 

 

 

 

$______________

$______________

for Resale

A.LOANS TO REFINANCE LOANSl PREVIOUSLY NEGOTIATED BY REPORTING BROKER OR AFFILIATEm

1)

Number

_______________

_______________

2)

Aggregate Principal Amount

$______________

$______________

B. BALLOON PAYMENT AND INTEREST-ONLY LOANS

 

 

1)

Number

_______________

_______________

2)

Aggregate Principal Amount (at maturity)

$______________

$______________

C. PRINCIPAL (Broker Funded) LOANS RESOLD

 

 

1)

Single Purchaser:

 

 

 

a)

Number

_______________

_______________

 

b)

Aggregate Selling Price

$______________

$______________

2)

Multiple Purchasers (Fractionalized)k:

 

 

 

a)

Number

_______________

_______________

 

b)

Aggregate Selling Price

$______________

$______________

 

c) Aggregate Number of Purchasers

______________

______________

 

 

11

 

 

D. LOANS COVERED UNDER FINANCIAL CODE SECTION 4970™

 

 

1)

Number

$______________

$______________

2)

Aggregate Principal Amount

$______________

$______________

III.COSTS AND EXPENSES PAID BY BORROWERS IN LOAN ORIGINATIONSn

Total

$

 

$

 

 

 

 

 

 

 

Retained by Broker or Afiliate for Services

$

 

$

 

 

 

 

 

 

 

See page 5 for explanation of footnotes.

 

 

 

 

 

RE 881

 

 

 

Page 3 of 5

 

 

 

 

BROKER'S NAME

 

 

 

 

 

 

 

IV. LOANS FOR BROKER’S USE OR BENEFITo [B&P Code §10231.2]

All Loans/Sales

 

A.

Total Number

_______________

 

B. Number of Fractionalized Loans

_______________

 

C.

Aggregate Amount Borrowed

$______________

V.

SALES OF NOTES AS AGENT [B&P Code §10131(e)]

 

 

TOTAL LOANS

 

 

A.

Number

.....................................................................................................

_______________

 

B.

Aggregate Selling Price

$______________

 

C.

Commissions Received

$______________

 

D. Multi-Lender Sales (Fractionalized)

 

 

 

1)

Number of Loans

_______________

 

 

2)

Aggregate number of Lenders/Investors

_______________

 

 

3)

Aggregate Selling Price

$______________

 

 

4)

Commissions Received

$______________

VI. RESALES AS PRINCIPAL OF NOTES PURCHASED BY BROKER

 

 

[B&P Code §10131.1]

 

 

TOTAL LOANS

 

 

 

A.

Number

_______________

 

 

B.

Aggregate Purchase Price

$______________

 

 

C.

Aggregate Resale Price

$______________

 

 

D.

Multi-Lender Resales (Fractionalized)

 

 

 

 

1)

Number of Loans

_______________

 

 

 

2) Aggregate number of Investors

_______________

 

 

 

3)

Aggregate Selling Price

$______________

 

 

 

4)

Commissions Received

$______________

VII. SALES OF REAL PROPERTY SALES (RPS) CONTRACTSp AS

 

 

AGENT OR PRINCIPAL [B&P Code §10131(e) and 10131.1]

 

 

A.

Number

 

_______________

 

.....................................................................................................

 

 

B.

Aggregate Selling Price

$______________

 

 

See page 5 for explanation of footnotes.

RE 881

Page 4 of 5

 

 

BROKER'S NAME

 

VIII. NOTE AND RPS CONTRACT SERVICING

A.Total Number of Notes and/or Contracts Serviced During Reporting Period........................................................................................................

B.Number of Fractionalized Notes Serviceds...........................................

C.Total Dollar Amount of Payments Collected from Borrowers During the Reporting Period including Payoffsq ..............................................

D.Total Dollar Amount of Payments Collected from Borrowers on Frac- tionalized Notes During the Reporting Period including Payoffss........

E.Total Dollar Amount of Loans Servicedr .............................................

F.Total Dollar Amount of Fractionalized Loans Servicedrs..................

G.Total Late Charges Received During the Reporting Period .....................

H.Total Late Charges Retained by Broker ...................................................

I.Number of Loans Prepaid.........................................................................

J.Total Amount of Prepayment Penalties Paid by Borrowers .....................

K.Total Amount of Prepayment Penalties Retained by Broker....................

L.Total Other Broker Charges for Servicing................................................

M.Number of Notices of Default Filed.........................................................

N.Number of Trustee's Sales, Judicial Sales or Deeds in Lieu of Foreclosure Recorded...............................................................................

_______________

_______________

$______________

$______________

$______________

$______________

$______________

$______________

_______________

$______________

$______________

$______________

_______________

_______________

Certiication

To the best of my knowledge and belief the information contained in this report is true and correct.

SIGNATURE OF BROKER OR DESIGNATED LICENSED OFFICER

»

PRINTED NAME OF BROKER OR DESIGNATED LICENSED OFFICER (REPORTING BROKER)

DATE

LICENSE NUMBER

NAME OF CORPORATION

BUSINESS TELEPHONE NUMBER

vIf reporting broker is an individual licensee, he/she must sign this report. If reporting broker is a corporate licensee, the corpora- tion’s designated licensed oficer must sign this report.

See page 5 for explanation of footnotes.

o A purchase or loan transaction in which the broker directly or indirectly obtained the use or beneit of the funds other than for commissions, fees, costs and expenses.
p REAL PROPERTY SALES (RPS) CONTRACTS — As defined in Sec- tion 10029 of the Business and Professions Code:
"Real property sales contract" as used in this part is an agreement wherein one party agrees to convey title to real property to another party upon the satisfaction of speciied conditions set forth in the contract and which does not require conveyance of title within one year from the date of formation of the contract.
q Includes payments collected from obligors and loan payoffs.
r Outstanding principal of each note on the last day of the iscal year or the reporting period including fractionalized (multi- lender) loans.

RE 881

Page 5 of 5

 

 

BROKER'S NAME

Footnotes

 

jARTICLE 7 LOANS — Loans of less than $30,000 secured by irst deeds of trust on dwellings and loans of less than $20,000 secured by junior deeds of trust on dwellings.

kMULTIPLE LENDER LOANS (FRACTIONALIZED) — One funded

through the issuance of a series of notes of equal priority secured by the same real property or the sales of undivided interests in a single note secured by the same real property, to two or more persons not otherwise associated.

lLOANS TO REFINANCE — A loan funded within 90 days of the maturity date of an existing obligation of the borrower in which 75 percent or more of the proceeds made available to the bor- rower are applied to pay off the existing obligation.

mAFFILIATE — Any entity in which an individual reporting bro- ker or an oficer, director or shareholder of a corporate report- ing broker has more than a nominal inancial interest or from whom the reporting broker receives any form of compensation for the referral of business in connection with the reporting broker’s mortgage loan activities. Should the afiliate meet the criteria of Section 10232, a separate report must be compiled and submitted for each entity.

nCOSTS & EXPENSES — For services enumerated in Section 10241(a) (appraisal fees, escrow fees, title charges, notary fees, recording fees, credit investigation fees) and any other charge made to the borrower and retained by the broker, an afiliate or subsidiary.

sFractionalized (multi-lender) loans only.

™11 Refer to Financial Code Section 4970(a) through (e) for the deinition of a covered loan.

See page 5 for explanation of footnotes.