Breaking Down the Mortgage Call Report (STATE)

It will be important for companies to have a good handle on several characteristics of the NMLS Mortgage Call Report (MCR).

The first distinguishing feature is that the MCR comes in two varieties: Standard and Expanded. The Expanded version of the MCR is for companies that are a Fannie Mae or Freddie Mac Seller/Servicer or Ginnie Mae Issuer.  All other companies will submit a Standard MCR.  The vast majority (90%) of state-licensed companies in NMLS will complete the Standard MCR.

The other important feature is that the MCR contains two components: RMLA and FC.

  1. Residential Mortgage Loan Activity (RMLA) – This section collects application, closed loan, individual MLO, Line of Credit and repurchase data by state. This is always due 45 days from the end of each calendar quarter.
  2. Financial Condition (FC) – This section collects financial information at the company level. It does not have to be completed by state. For companies completing the Standard MCR , it is due ONCE A YEAR 90 days from the end of the company’s fiscal year end. For companies completing the Expanded MCR, it is due QUARTERLY 45 days from the end of each calendar quarter.

MCR goes live in NMLS on May 2nd. Companies will need to submit their Q1 2011 data sometime between May 2 and May 15. Companies can start gathering the information for their first MCR submission using the Standard MCR Practice Worksheet.


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