What type of reports must mortgage originators regularly submit to maintain compliance?

Mortgage originators are required to submit Mortgage Call Reports to maintain compliance with regulatory requirements. These reports provide essential data regarding the mortgage origination activities of lenders and are submitted to the Nationwide Multistate Licensing System and Registry (NMLS).

The purpose of the Mortgage Call Reports is to monitor the financial condition of mortgage companies, tracking aspects such as the volume of loans originated, types of loans, and overall business operations. By regularly submitting these reports, mortgage originators help ensure transparency in their operations, which is essential for regulatory oversight.

The other reporting options, such as annual performance reports, quarterly earnings reports, and client feedback reports, may serve useful purposes within specific organizations but do not fulfill the mandatory compliance obligations stipulated by regulations governing mortgage practices. These other reports may not provide the standardized data required by regulators to assess the health and compliance of mortgage operations on a broader scale.