Final answer:
The information provided does not directly address the specific SAR reporting threshold for RMLOs. SARs are generally filed for transactions involving at least $5,000 for suspected illegal activities under AML regulations. It is recommended to consult current FinCEN guidelines for precise requirements.
Step-by-step explanation:
The provided information does not specifically mention the required aggregate funds or other assets threshold for RMLOs (Residential Mortgage Loan Originators) to make a Suspicious Activity Report (SAR). However, considering the context is related to banking regulations and reserve requirements, it is related to financial regulations, which are generally within the realm of business or finance studies in a college setting. Typically, guidelines for SAR reporting thresholds can be found under anti-money laundering (AML) laws and regulations, which may vary based on jurisdiction and are often subject to change. In the United States, the threshold for filing a SAR for most financial institutions including RMLOs, according to the Financial Crimes Enforcement Network (FinCEN), is generally $5,000 for known or suspected federal criminal offenses or suspicious transactions related to money laundering.
If the question is specifically pertaining to mortgage loan originators, they would be required to file a SAR for all transactions conducted and attempted by, at, or through the loan or finance company involving or aggregating to at least $5,000 in funds or other assets where the loan or finance company knows, suspects, or has reason to suspect that the transaction (or a pattern of transactions of which the transaction is a part): involves funds derived from illegal activities or is intended or conducted to hide or disguise funds or assets derived from illegal activities (to include the rights to, or other interest in, such funds or assets) to avoid a transaction reporting requirement under state or federal law; is designed, whether through structuring or other means, to evade any requirements of the Bank Secrecy Act; has no business or apparent lawful purpose, and the loan or finance company knows of no reasonable explanation for the transaction after examining the available facts; or involves the use of the loan or finance company to facilitate criminal activity.