Just a heads up that there are some quickly-approaching deadlines for reports and financial statements filed via the NMLS.
Mortgage Call Report (MCR): February 14
The MCR for the fourth quarter of 2019 is due by February 14. The MCR must be filed by companies holding specified licenses (typically, mortgage licenses) in the NMLS. Companies that do not engage in mortgage-related activity, but that hold one or more licenses that trigger the MCR requirement, can enter all zeroes in the residential mortgage loan activity component of the MCR. For a list of the licenses that trigger the MCR requirement, please see the State MCR Requirements Chart on the MCR page of the NMLS website.
Money Services Businesses (MSB) Call Report: February 14 or March 31
The money services businesses (MSB) call report for the fourth quarter has historically been due within 90 days of the end of the quarter — February 14. However, the Conference of State Bank Supervisors recently sent an email notifying MSB companies that the deadline has been extended to March 31 for those states that do not have the February 14 deadline incorporated into their statutes or regulations. MSB companies should consult the MSB Call Report Adopting Agencies Chart on the MSB Call Report page of the NMLS website to confirm the deadline for each state in which they are licensed.
Annual Financial Statement (for companies with a fiscal year end date of December 31): March 31
Companies holding specified licenses in the NMLS must annually file a financial statement within 90 days of their fiscal year end. The financial statement must meet the most stringent classification type — that is, audited, unaudited (reviewed), unaudited (compiled), or unaudited — set forth in the Financial Statement Requirements Summary on the Financial Statements page of the NMLS website.
Financial Condition Component of MCR (for companies with a fiscal year end date of December 31): March 31
Companies holding licenses that trigger the MCR requirement (see above), regardless of whether they are engaged in mortgage-related activity, must annually file the financial condition component of the MCR within 90 days of their fiscal year end. The component requires a lot of the same financial information that is included in a financial statement, but must still be completed even if a company has submitted a financial statement via the NMLS.
For more information regarding any of these reporting requirements, check in with APPROVED.