The Conference of State Bank Supervisors (CSBS), in conjunction with the American Association of Residential Mortgage Regulators (AARMR), will launch the Nationwide Mortgage Licensing System (NMLS) Mortgage Call Report on May 2nd in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). Submission of the first NMLS Mortgage Call Report is required by May 15, 2011 for all state-licensed companies and companies employing state-licensed mortgage loan originators. The launch of the NMLS Mortgage Call Report marks the first standardized information collection for the residential mortgage industry. The NMLS Mortgage Call Report will provide timely, comprehensive and uniform information of the non-depository mortgage industry, thereby allowing state mortgage regulators to effectively monitor both licensees and mortgage activities. Data will be submitted by companies on a quarterly basis concerning the financial condition and mortgage loan volumes by type and state. The NMLS Mortgage Call Report is the latest NMLS initiative to enhance and standardize residential mortgage supervision, all while increasing protections for consumers. The Mortgage Call Report will: ►Provide state regulators with the information necessary to replace unique annual reports currently required by roughly 38 states and to standardize the financial statement information required by more than 42 states; ►Provide state regulators with pertinent information to more effectively supervise licensees; allow state regulators to better monitor licensed companies that operate in one or more states; and ►Provide licensees to one or more state regulators in a single, uniform manner. In order to assist industry and vendors in the submission of the Mortgage Call Report, several Webinars and in-person conferences and panels have been held over the past six months. In addition, the NMLS Resource Center contains step-by-step instructions for completing the Mortgage Call Report as well as Field Definitions, FAQs, examples of which areas of the Mortgage Call Report are required to be completed based on business activity and a Practice Worksheet for companies to prepare for the first filing.