What is included in a mortgage call report?

MCR filings contain two components: the Financial Condition (FC) and the Residential Mortgage Loan Activity (RMLA) Report. The FC contains the company’s financial data. For Standard filers, the FC is required to be filed annually, no later than 90 days after the fiscal year end.

What is the purpose of the mortgage Call Report?

A. Mortgage Call Reports are quarterly reports of loan activity and reports of financial condition submitted to the NMLS.

How often must a mortgage company file a statement of condition report with the TX SML via the Nmls?

Texas Administrative Code. (a) Call Report. (1) A mortgage company must file a mortgage call report on a quarterly basis.

What does MCR stand for in mortgage?

Licensees/registrants are required to file quarterly Mortgage Call Reports (MCR) through NMLS, which consists of the following components: Residential Mortgage Loan Activity. Financial Condition.

What is MCR standard FC?

The Standard MCR contains two components; the Residential Mortgage Loan Activity Report (RMLA) and the Financial Condition (FC). The FC component collects financial information at the company level; it does not have to be completed by state. Schedule A is the Assets section of the FC component of the MCR Filing.

What is Texas OCCC and SML?

There are two regulatory agencies in Texas that oversee the mortgage industry- the Texas Department of Savings and Mortgage Lending (SML) and the Office of the Consumer Credit Commissioner (OCCC) – each with their own set of licensing requirements and fees.

What is FCR accounting?

In accounting, a financial condition report (FCR) is a report on the solvency condition of an insurance company that takes into account both the current financial status, as reflected in the balance sheet, and an assessment of the ability of the company to survive future risk scenarios.

What is a mortgage call report quizlet?

What is a mortgage call report? * A quarterly report of condition that an entity submits through NMLS. * It contains 2 parts: The state level Residential Mortgage Loan Activity Report. The entity level Financial Condition Report.

What is an RMLO Texas?

An individual who takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain is considered a RMLO. In Texas, there are two (2) agencies who issue Mortgage Loan Originator licenses.