NMLS - Mortgage Call Reports Commence



The NMLS Mortgage Call Report filing is required for the first calendar quarter of 2011. It will be fully activated on the NMLSR website in April. Loan Originators will receive regulatory guidance with respect to full activation and implementation.

Specifically, the SAFE Act requires “mortgage licensees to submit reports of condition to the Nationwide Mortgage Licensing System and Registry in such form and containing such information as the Nationwide Mortgage Licensing System and Registry may require.”

Under the SAFE Act, each individual loan originator licensee must submit a mortgage call report to the Nationwide Mortgage Licensing System and Registry (NMLSR) as a condition of licensure. HUD understands a “mortgage call report,” which is actually undefined in the SAFE Act, to be a statement of condition of a mortgage company and its operations, including financial statements and production volumes.


Quarterly Report

*Filing Entites: All state-licensed companies and all state-registered companies that employ licensed mortgage loan originators.


*All state licensed companies and companies employing state licensed mortgage loan originators.

*Some states are still not licensing via the NMLS; consequently, MLOs must submit Mortgage Call Report.

*Annual and Quarterly Reports required by State Banking Departments: State agencies and many states have indicated that they will accept the NMLS Mortgage Call Report as satisfaction of their state specific reporting requirements.

*Multiple State Licensees: Only one NMLS Mortgage Call Report is filed per company per quarter, including break out data for each state in which the company is licensed and/or has licensed mortgage loan originators.

*Data Submission: A specific solution has not been developed but the development team may implement an XML format.

*Non-Servicing Fannie/Freddie Seller/Servicer and Non-Pool Ginnie Mae Issuers: All state licensed companies or companies employing state licensed MLOs must complete the NMLS Mortgage Call Report even if they have had no activity during the reporting period. Companies that did not have activity during a particular quarter will be able to indicate this on the NMLS Mortgage Call Report.

*Subsidiaries of Federal Regulated Institutions: All state-licensed companies or companies employing state-licensed MLOs must complete the NMLS Mortgage Call Report.

*Calendar - Fiscal Year: Information must be submitted within 45 days of the end of a calendar quarter. The information must reflect the data from that calendar quarter.

*Fees: To be determined.


*NMLS Mortgage Call Report Basics

*Mortgage Call Report Standard Section - Entities: Loan Originators

*Mortgage Call Report Expanded Section - Entities: Fannie Mae or Freddie Mac Seller/Servicer, or a Ginnie Mae Issuer

*Field Definitions - Definitions and Instructions


-Wholesale Lender

-Reverse Mortgage Lender


-Retail Lender


*Download and review NMLS requirements and forms for the Mortgage Call Report.

*Prepare NMLS records prior to April 2011.

*Draft and implement policies and procedures to (a) prepare and submit MCRs for an entity, and (b) prepare and submit MCRs for individual MLOs.


The article provides a general outline, online resources, and link to the *Mortgage Call Report Toolbox* in our Library.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jonathan Foxx, Lenders Compliance Group | Attorney Advertising

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Lenders Compliance Group on:

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