Each mortgage broker and mortgage lender shall submit to the Nationwide Multistate Licensing System and Registry:

(1) Reports of condition, which shall be in such form and shall contain such information as the department and the Nationwide Multistate Licensing System and Registry may require; and

(2) Quarterly and annual reports of residential mortgage loan origination, servicing, and financial information in such form as required by the department and the Nationwide Multistate Licensing System and Registry.