State-licensed mortgage companies must file a new quarterly Mortgage Call Report by May 15 that will list their loan officers along with origination data.
The Conference of State Bank Supervisors, in conjunction with the American Association of Residential Mortgage Regulators, will officially launch the Mortgage Call Report on Monday (May 2).
The two groups have engaged in a lot of industry outreach, including 20 webinars, to get the word out, according to CSBS spokeswoman Catherine Woody.
State-licensed mortgage companies and mortgage companies that employ state-licensed loan originators must file the MCR that includes two components -- a Financial Condition component and a Residential Mortgage Loan Activity component.
In addition, state-licensed mortgage companies that are Fannie Mae or Freddie Mac seller/servicers or Ginnie Mae issuers have to file an expanded MCR.
Congress called for the creating of the mortgage call report for non-depository institutions as part of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), which also created the Nationwide Mortgage Licensing System.
"The launch of the NMLS Mortgage Call Report marks the first standardized information collection for the residential mortgage industry," CSBS said.
