Which filing reports a licensed mortgage company's residential mortgage activity and financial condition through NMLS?
Correct Answer
A) Mortgage Call Report
Why this is correct: The Mortgage Call Report (MCR) is the specific NMLS filing that licensed mortgage companies must submit periodically to report their residential mortgage loan activity and financial condition, as the original explanation states. Why the other choices are wrong: "Individual MU4 employment history only" is wrong because the MU4 form is for individual licensees' employment history, not company-wide activity and financial reporting. "Uniform Residential Loan Application" is wrong because this is a borrower's loan application form (Fannie Mae Form 1003), not a company regulatory report. "Closing Disclosure" is wrong because this is a transaction-specific closing document (TRID), not a periodic company report to NMLS. Exam tip: Remember: Mortgage Call Report = company activity/financials to NMLS. It's not a borrower form.
Why This Is the Correct Answer
Why this is correct: The Mortgage Call Report (MCR) is the specific NMLS filing that licensed mortgage companies must submit periodically to report their residential mortgage loan activity and financial condition, as the original explanation states. Why the other choices are wrong: "Individual MU4 employment history only" is wrong because the MU4 form is for individual licensees' employment history, not company-wide activity and financial reporting. "Uniform Residential Loan Application" is wrong because this is a borrower's loan application form (Fannie Mae Form 1003), not a company regulatory report. "Closing Disclosure" is wrong because this is a transaction-specific closing document (TRID), not a periodic company report to NMLS. Exam tip: Remember: Mortgage Call Report = company activity/financials to NMLS. It's not a borrower form.
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