What two components make up the Mortgage Call Report?

The correct answer focuses on the two primary components of the Mortgage Call Report: Residential Mortgage Loan Activity and Financial Condition. This report is essential for mortgage lenders as it provides a comprehensive overview of a lender's loan activity in terms of the number of loans originated, the status of those loans (whether current, delinquent, or in foreclosure), and various financial statistics that reflect the lender's overall financial health.

Residential Mortgage Loan Activity details various metrics such as the total number of loans originated, sales of loans, and other relevant loan-related activities. Financial Condition encompasses information about the lender's assets, liabilities, and overall financial stability. Both components together enable regulatory agencies to monitor and assess the mortgage industry effectively, ensuring compliance with federal and state regulations.

The other options presented do not accurately represent the Mortgage Call Report's content. For instance, while loan applications and borrower details might be important for a lender's internal use, they do not constitute the specific components of the Mortgage Call Report itself. Similarly, while loan performance metrics and industry benchmarks are valuable, they are more about assessing the broader market rather than the specific reporting requirements of the Mortgage Call Report. Market analysis and operational audits focus on evaluating market conditions and internal processes, which also fall outside the scope of what