IMMEDIATE MEDIA RELEASE

May 3, 2011

Department of Banking and Consumer Finance Announces Ability to Capture Information from Licensed Mortgage Lenders Operating in Mississippi

JACKSON – John S. Allison, Commissioner, Department of Banking and Consumer Finance operating under Section 81-18-1 et seq., of the Mississippi Code, announces the mandatory requirement for licensed mortgage lenders operating in Mississippi to complete a quarterly report beginning with first quarter 2011 information. This information, also required by federal legislation, will be uniform for all states and will be used to risk profile for efficient use of examination resources, identify unlicensed activity, gain a better understanding of residential mortgage activity within the state, and compare data with other states, regions and nation. Specifically, the report will collect application, fee, and origination, financial and servicing information from these companies. The aggregate data will be made publicly available but company specific information will not be released.

For more background information on this new report and the National Mortgage Licensing System please refer to http://mortgage.nationwidelicensingsystem.org/slr/common/mcr/Pages/default.aspx or the Department’s web site listed below.