(1) A mortgage broker shall create and retain a residential mortgage file. The residential mortgage file shall contain:

(a) a record of all cash, checks, or other monetary instruments received in connection with each mortgage loan application showing the identity of the payor, date received, amount, and purpose;

(b) applicant's name, date, name of person taking the application, HUD-1 Settlement Statement, copies of all agreements or contracts with the applicant, including any commitment and lock-in agreements, and all disclosures required by state and federal law signed and dated by the borrower, and where applicable, signed and dated by the individual mortgage broker or loan originator;

(c) a record of any and all contact between the mortgage broker or loan originator and the borrower relating to the rate, terms, or conditions of the loan;

(d) a copy of the evidence of insurance or insurance binder as required by the lender;

(e) a copy of the statement from the investor authorizing the loan;

(f) a copy of the appraisal;

(g) a copy of the borrower's credit report;

(h) a copy of all documentation used to support the borrower's income as required by the lender;

(i) a copy of all documentation used to support the borrower's assets as required by the lender;

(j) a copy of the promissory note;

(k) a copy of the policy of title insurance commitment on the property securing the loan;

(l) a copy of the first three pages of the deed of trust and final Truth in Lending disclosure signed by the borrower; and

(m) copies of all uniform residential loan applications.

(2) A mortgage broker shall maintain a trust account records file showing a sequential listing of checks written for each bank account relating to the licensee's business as a mortgage broker, showing at a minimum, check number, the payee, amount, date, and purpose of payment or deposit, including identification of the loan to which it relates, if any. The licensee shall reconcile the bank accounts monthly.

(3) A mortgage broker shall maintain a spreadsheet of all residential mortgage applications taken, including all applications that are pending, closed, withdrawn, denied, or cancelled. The spreadsheet shall contain, at a minimum:

(a) the first and last name of the borrower(s);

(b) the property address (street, city, state, and zip code);

(c) the phone number of the borrower(s);

(d) the initial application date;

(e) the date the credit report was requested for the borrower(s);

(f) the loan amount;

(g) the status of the loan (pending, closed, withdrawn, cancelled, denied);

(h) the total fees received indirectly or directly by the mortgage broker at the closing of the loan;

(i) the total yield spread premium received by the mortgage broker at the closing of the loan; and

(j) the name of the individual mortgage loan originator who originated the loan.