More Details About the Mortgage Call Report

NMLS has recently posted more details about the Mortgage Call Report (MCR) that is set to come online May 2, 2011. Highlights include:

  • A State MCR Requirements Chart which provides state reporting requirements by state agency and license type.
  • Details on the XML upload option that is going to be available. This will be used primarily by companies who are able to pull data out of their internal systems. The data will need to be formatted according to the XML specifications and then manually uploaded into NMLS.
  • A statement that no processing fees will be charged for the MCR this year.
  • A reminder to review your company MU1, specifically the “Other Business Section”. NMLS will use the information found on the MU1 (regarding Fannie, Freddie or Ginnie) to determine whether you need to complete the Standard or Expanded portion of the Call Report, so be sure it is accurate.
  • NMLS will be offering MCR training workshops in April and May.

For all the details, go the NMLS Mortgage Call Report Page.


%d bloggers like this: