Which agency oversees the submission of Mortgage Call Reports?

Prepare for the Rhode Island Mortgage Law Test. Utilize flashcards and multiple choice questions with hints and explanations to enhance your readiness. Excel in your exam!

The National Mortgage Licensing System (NMLS) is the correct agency that oversees the submission of Mortgage Call Reports. The NMLS serves as a comprehensive platform for the licensing and regulation of mortgage companies and professionals. This system enables lenders and their key agents to report financial and operational data through the Mortgage Call Report, which is crucial for maintaining transparency and accountability in the mortgage industry.

Monitoring institutions like the NMLS helps ensure that mortgage companies comply with federal and state laws. These reports provide important data to regulators that can impact consumer protection efforts and industry practices. Other agencies such as the Federal Reserve, the Consumer Financial Protection Bureau, or the Federal Housing Administration have distinct roles in the financial and housing markets but do not directly oversee the submission of Mortgage Call Reports in the way that the NMLS does.

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