NAVIGATION GUIDE. Mortgage Call Reports and Financial Statements

Transcription

1 NAVIGATION GUIDE Mortgage Call Reports and Financial Statements

2 Purpose This navigation guide is designed to provide a general understanding of completing Mortgage Call Reports (MCR) and Financial Statements in the NMLS. Copyright 2014 SRR. All rights reserved. Materials may not be reprinted or republished without the express permission of SRR. Individuals, companies, and data mentioned in these materials are fictitious and are presented exclusively for purposes of illustration or example. Resources Resources for NMLS: - NMLS Resource Center at: - NMLS Call Center at: NMLS-123 ( ) i Release

3 Table of Contents Mortgage Call Report Mortgage Call Report (MCR)... 2 Overview... 2 MCR Filing Periods... 3 MCR Notifications... 3 MCR Organization User Roles... 3 Completing a Standard Financial Condition (S-FC) Component... 4 Completing S-FC Schedules... 7 Explanatory Notes... 8 Completeness Checks and Warnings for S-FC Component Level... 8 Mark FC Component as Ready to Submit Submit an S-FC MCR Filing Completing a Standard Residential Mortgage Loan Activity (S-RMLA) Component Company-Level Information (Lines of Credit and Notes) Company-Level Information Explanatory Notes Completeness Check for Standard Company-Level RMLA Mark Company-Level RMLA as Ready to Submit State-Specific Information Section I State-Specific Information Section I - MLO(s) State-Specific Information Explanatory Notes Completeness Check for Standard State-Specific RMLA Mark State-Specific RMLA as Ready to Submit Add State-Specific RMLA Component Submit an S-RMLA MCR Filing Completing an Expanded MCR Filing Mark E-MCR as Ready to Submit Submit an E-MCR Filing Upload an MCR Filing View MCR Upload History View MCR Upload Errors Amend an MCR Overview MCR Form Versions Amend an MCR Filing Upgrade a Standard MCR to an Expanded MCR Financial Statements Submitting Financial Statements Amending Financial Statements View Historical Financial Statement Filings Key Terms Copyright SRR Page 1 Release

4 Mortgage Call Report (MCR) Overview The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires all state mortgage licensees to submit a report of financial condition and loan activity to NMLS. The Mortgage Call Report (MCR) functionality in NMLS allows a company to submit the required filings through the system. There are two different types of Mortgage Call Report (MCR) Filings in NMLS: the Expanded Mortgage Call Report (E-MCR) and the Standard Mortgage Call Report (S-MCR). The E-MCR is required for a company that indicates on the Company Form (MU1) that it is a Fannie Mae or Freddie Mac Approved Seller/Servicer or a Ginnie Mae Issuer. This company is considered a Government Sponsored Enterprise Approved (GSE-approved) Entity. A company is considered GSE-approved for a quarterly reporting period if the Approvals and Designations section on the Company Form (MU1) indicates one or more approvals with Fannie Mae, Freddie Mac, or Ginnie Mae as of the beginning or end of that reporting period. A non GSEapproved company is required to submit the S-MCR, however, the company may choose to file the E-MCR. MCR filings contain two components: the Financial Condition (FC) and the Residential Mortgage Loan Activity (RMLA) Report. The FC contains the company s financial data. For Standard filers, the FC is required to be filed annually, no later than 90 days after the fiscal year end. For Expanded filers, the FC is filed every calendar quarter. The RMLA contains information about the mortgage activities for a company and it s Mortgage Loan Originators (MLOs). The RMLA has two components which contain company-level and state-specific information. The company-level RMLA component contains information about the lines of credit and general notes and is completed once within a filing. It is shared with each state in which a company is licensed/registered. The state-specific RMLA components are completed for each state in which a company is licensed/registered. If a company holds licenses in multiple states, it will need to complete a single company-level RMLA and a state-specific RMLA components for each state, even if there was no activity during the reporting period. The RMLA is required to be filed quarterly for both Standard and Expanded filers. Companies have the ability to submit the RMLA for additional states if necessary. MCR filings can be created manually or by use of the upload functionality in NMLS. Regardless of how the company initiates the MCR filing, the company will still need to complete all of the components, attest to, and submit the MCR filing. For information on MCR state-specific requirements please see the Mortgage Call Report Requirements by State Agency document found on the NMLS Resource Center. This Navigation Guide walks through three MCR filing scenarios. The first filing is the S-FC component and the second filing is the S-RMLA component. The S-MCR breaks up the components into two filings, as the reporting periods are different. The third filing is the E-MCR filing, which includes both the E-FC and E-RMLA components into one filing. When creating an MCR filing NMLS will create the required FC and/or RMLA component(s) for the period selected. Copyright SRR Page 2 Release

5 MCR Filing Periods The tables below list the filing periods and required MCR components along with the due dates. Standard MCR for Non GSE-Approved Companies MCR Component Filing Period Due Date S-FC Annual 90 days from fiscal year end (FYE) S-RMLA Q4 data (October 1 December 31) 45 days from Q end (February 14) Q3 data (July 1 September 30) 45 days from Q end (November 14) Q2 data (April 1 June 30) 45 days from Q end (August 14) Q1 data (January 1 March 31) 45 days from Q end (May 15) MCR Component Filing Period Due Date E-FC and E-RMLA Expanded MCR for GSE-Approved Companies Q4 data (October 1 December 31) 45 days from Q end (February 14) Q3 data (July 1 September 30) 45 days from Q end (November 14) Q2 data (April 1 June 30) 45 days from Q end (August 14) Q1 data (January 1 March 31) 45 days from Q end (May 15) NOTE: The MCR is separate and distinct from Financial Statements. MCR Notifications Company users can subscribe to notifications that alert users an MCR filing is required and reminders prior to the MCR due date. Please see the Notifications Navigation Guide for more information. MCR Organization User Roles There are three different MCR-related organization user role types described below. These user roles were created to allow different user types (i.e., an accountant for the company) with proper access to the MCR Filing. View Mortgage Call Report Filings - allows a user to view an existing pending filing (through the filing functionality) in a read-only mode as well as view edits in red-line for a pending amendment. Edit Mortgage Call Report Financial Condition Filings - allows a user to view, enter, and edit an FC filing and mark it as Ready to Submit. Users with this role are NOT able to view, enter, or edit the RMLA components. This user CANNOT create or submit an MCR filing, even if the FC is the only component to the filing. Create and Submit Mortgage Call Report Filings - allows a user to view, create and manage the MCR, including all components and to submit the MCR. Copyright SRR Page 3 Release

6 Completing a Standard Financial Condition (S-FC) Component The FC component of the MCR contains the company s financial data at a corporate, Company Form (MU1) level including sole proprietors. The S-FC is filed annually and therefore has a 12 month reporting period. The filing is due 90 days from the fiscal year end (FYE) of the company. Typically companies have a FYE of December 31st, however if the company has a different FYE the reporting period is still 12 months. An S-FC is comprised of the following sections: Schedule A - Assets Schedule B - Liabilities and Equity Schedule C - Income Schedule D - Non-Interest Expenses and Net Income Explanatory Notes To complete an S-FC component: 1. From the NMLS Home screen, click the Filing tab. 2. Click MCR on the sub-menu. Copyright SRR Page 4 Release

7 3. Click Create New MCR. NOTE: To create an MCR filing via the upload process, see the Upload an MCR Filing steps. If there are no pending or processed MCR filings, then the Mortgage Call Reports screen will not display any filing information. 4. Select the Year from the drop-down menu. 5. Select Annual from the Period drop-down menu. Copyright SRR Page 5 Release

8 6. Click Create Standard MCR. NOTE: NMLS will determine the required filing type based on the year and period selected as well as the company s GSE-approval status. [Result:] The Mortgage Call Report Components screen displays the status of the component. At this point of the process, the FC component status is Pending Initial. 7. Click the Edit icon to complete the FC component. [Result:] The FC Schedule A screen displays. Copyright SRR Page 6 Release

9 Completing S-FC Schedules There are four schedules to the FC which must be completed in order to submit the filing. Users have the option to turn on the completeness check before proceeding to the next section by clicking the Completeness Check Mark icon. When using the completeness check, all required fields are highlighted. If an error has occurred, a description of the error displays in a yellow bar directly beneath the sandbar. See an example of the completeness check below which includes a missing value and computation error. The computation error will be corrected once Schedule B is complete. Users may also use the Fill Blank Fields With Zero button to assist in completing any FC Schedule. 1. Complete Schedule A of the FC. 2. Click Save. 3. Complete the next schedule of the FC by clicking the schedule name on the navigation panel or by clicking the Next/Previous buttons at the bottom of the screen. 4. Click Save. 5. Repeat steps 3 and 4 until all schedules of the FC are complete. NOTE: The Information icon on the sandbar links directly to the NMLS Resource Center for line-by-line field definitions and data formatting requirements. All fields are required to be completed including zero for none or not applicable fields. Once data is saved the total fields are auto populated. Copyright SRR Page 7 Release

10 Explanatory Notes This section is a text field in which a company user can provide additional information to the regulator. This field is optional unless there are outstanding data warning messages (described in the Completeness Checks and Warnings section below). 1. Enter the explanatory text. 2. Click Save. Completeness Checks and Warnings for S-FC Component Level You must visit the, Completeness Checks and Warnings page before the component can be marked as Ready to Submit. The completeness check will ensure all required information has been provided in the appropriate format. If the component does not pass the completeness check, the screen will list the section(s) within the component where an error has occurred and provide a description of the each error that exists. All completeness check errors must be cleared before a filing can be marked as Ready to Submit. A warning message indicates that a field value does not have the expected outcome. For example, the value on line B210 must be equal to the value on line O350. Warning messages can be cleared by returning to the appropriate sections, updating the corresponding values, and returning to the Completeness Checks and Warnings page again to confirm the warning message has been cleared. If the values entered in the filing are correct and warning messages exist, the filing can still be submitted. You must provide an explanatory note and acknowledge that you accept the warning message(s) prior to marking the component as Ready to Submit. The difference between a completeness check error and a data warning message: All completeness check errors must be corrected before a component can be marked as Ready to Submit The presence of data warning messages do not prevent submission of the filing, you must provide an explanatory note acknowledge that you accept the warnings prior to marking the component as Ready to Submit Copyright SRR Page 8 Release

11 To run Completeness Checks and Warnings: 1. Click Completeness Checks and Warnings on the navigation panel. 2. If errors exist in the Completeness Check section, click the section link to go to the corresponding schedule and correct the error. 3. Enter any updated information and click Save. 4. Click Completeness Checks and Warnings on the navigation panel. Copyright SRR Page 9 Release

12 5. Repeat steps 2 through 4 until all completeness check errors have been resolved. 6. If data warnings exist in the Warnings section, click the line number link to go to the corresponding schedule and correct the discrepancy or if the values are correct then click Explanatory Notes to provide an explanation. NOTE: Warnings will not prevent submission of a FC, however, users must acknowledge that the warnings exist prior the marking a FC as Ready to Submit. For more information on the error messages displayed please review the MCR Data Validation document on the NMLS Resource Center. 7. Enter any updated information and click Save. 8. Click Completeness Checks and Warnings on the navigation panel to reevaluate the warning messages. NOTE: The warning message remains on the top the corresponding schedule page until the user runs the Completeness Checks and Warnings again from the navigation panel. 9. Repeat steps 6 through 8 until all errors are resolved or acknowledge warning prior to marking the component as Ready to Submit. Copyright SRR Page 10 Release

13 Mark S-FC Component as Ready to Submit Once all component statuses are marked as Ready to Submit, the MCR may be submitted. If the component is not Ready to Submit, then click Return to MCR Components to return to the Mortgage Call Reports Components screen. 1. If data warnings exist, select the checkbox next to I acknowledge the existence of the data validation warnings above and hereby certify that the data provided is accurate and that I have provided an explanation of my data in the Explanatory Notes of this filing. 2. Click Ready To Submit. [Result:] The Mortgage Call Reports Components screen displays. Proceed to Submit an S-FC MCR Filing. NOTE: The above steps can be completed by an organization user with the Edit Mortgage Call Report Financial Condition Filings role. However this user CANNOT submit the MCR filing. Copyright SRR Page 11 Release

14 Submit an S-FC MCR Filing The FC component must be in a Ready to Submit status in order to submit the MCR filing on the Mortgage Call Report Components screen. To submit an MCR filing: 1. Click Completeness Check and Submit. [Result:] The Completeness Check and Submit screen displays. NOTE: If errors are displayed see Completeness Checks and Warnings for S-FC Component Level for details. 2. Select the checkbox next to I verify that I am the named person above and that I am authorized to attest to and submit this filing on behalf of the Company. 3. Click Attest and Submit. [Result:] The post submission landing page displays with a message indicating that the filing is being processed. Copyright SRR Page 12 Release

15 Completing a Standard Residential Mortgage Loan Activity (S-RMLA) Component The Residential Mortgage Loan Activity (RMLA) Report is the component of an MCR which gathers the filing company s line of credit and loan activity information. The RMLA is further broken down into company-level and state-specific information. The RMLA filing period is noncumulative and is filed on a calendar quarter basis. An RMLA is comprised of the following components and sections: Company-Level Information (Lines of Credit and Notes) Lines of Credit Explanatory Notes State-Specific Information Section I (contains loan activity) Section I - MLO(s) (contains MLO information) Explanatory Notes The company-level RMLA is completed once within a filing and shared with each state in which a company is licensed/registered. The state-specific RMLA is completed for each state in which a company is licensed/registered even if there was no activity during the reporting period. Companies have the ability to submit the RMLA for additional states if necessary. To complete an S-RMLA component: 1. From the NMLS Home screen, click the Filing tab. 2. Click MCR on the sub-menu. Copyright SRR Page 13 Release

16 3. Click Create New MCR. NOTE: To create an MCR filing via the upload process, see Upload an MCR Filing. If there are no pending or processed MCR filings, then the Mortgage Call Reports screen will not display any filing information. 4. Select the Year from the drop-down menu. 5. Select the appropriate quarter (e.g., Q1) from the Period drop-down menu. 6. Click Create Standard MCR. Copyright SRR Page 14 Release

17 NOTE: NMLS will determine the required filing type based on the year and period selected as well as the company s GSE-approval status. [Result:] The Mortgage Call Report Components screen displays the status of the component. At this point of the process the RMLA component status is Pending Initial. 7. Click the Edit icon under the Company-Level Information (Lines of Credit and Notes). NOTE: Companies may add additional RMLA component(s) for any state(s) that NMLS did not automatically create based on the company s licensure/registration status. To add an RMLA component see Add State-Specific RMLA Component. Also, NMLS will not automatically create the required state-specific RMLA component for Oregon. Companies with license/registration in Oregon will need to manually add the statespecific RMLA component. Copyright SRR Page 15 Release

18 Company-Level Information (Lines of Credit and Notes) The Company-Level RMLA contains the Lines of Credit section and Explanatory Notes. Users have the option to turn on the completeness check before proceeding to the next section by clicking the Completeness Check icon. When using the completeness check, all required fields are highlighted. If an error has occurred, a description of the error displays in a yellow bar directly beneath the sandbar. To complete the Lines of Credit: 1. Click Lines of Credit on the navigation panel. 2. Click Add New. [Result] The Lines of Credit screen displays. The icons below describe the action which may be available for each entry: Edit Open and edit the entry Delete Delete the line entry Undo Insert Undo the entry before saving Save Save the entry which adds a line of data 3. Complete all required fields. 4. Click Save. NOTE: A new line appears for continual entry. After saving the last entry, click the Undo Insert icon to remove the remaining blank entry. Copyright SRR Page 16 Release

19 Company-Level Information Explanatory Notes Explanatory Notes is an optional text field in which a company user can provide additional company-wide information to the regulator. 1. Click Explanatory Notes on the navigation panel. 2. Enter text in the Explanatory Notes field. 3. Click Save. Completeness Checks for Standard Company-Level RMLA A completeness check must be performed before the component can be marked as Ready to Submit. The completeness check will ensure all required information has been provided in the appropriate format. If the component does not pass the completeness check, the screen will list the section(s) within the component where an error has occurred and provide a description of the each error that exists. To run a Completeness Check: 1. Click Completeness Check on the navigation panel. 2. If errors exist, click the section link to go to the corresponding section and correct the error. 3. Repeat steps 1 and 2 until all errors are resolved. NOTE: For more information on the error messages displayed please review the MCR Data Validation document on the NMLS Resource Center. Copyright SRR Page 17 Release

20 Mark Company-Level RMLA as Ready to Submit Once all component statuses are marked as Ready to Submit, the MCR may be submitted. If the component is not Ready to Submit, then click Return to MCR Components to return to the Mortgage Call Reports Components screen. 1. Click Ready To Submit. [Result:] The Mortgage Call Reports Components screen displays. NOTE: The next step is to complete the State-Specific Information. Copyright SRR Page 18 Release

21 State-Specific Information Section I The State-Specific RMLA contains Section I (loan activity for the specific state), Section I - MLO(s) and Explanatory Notes. Users have the option to turn on the completeness check before proceeding to the next section by clicking the Completeness Check icon. When using the completeness check, all required fields are highlighted. If an error has occurred, a description of the error displays in a yellow bar directly beneath the sandbar. To complete Section I: 1. Click Section I on the navigation panel. 2. Enter loan activity data for the specific state. 3. Click Save. NOTE: If there is no activity to report for the corresponding state, click No Activity to Report to populate zeros in all fields in the section. Any data entered will be lost and replaced with zeros as shown below. Copyright SRR Page 19 Release

22 State-Specific Information Section I - MLO(s) Section I - MLO(s) contains information regarding the MLO(s) employed during the filing period. This section can be entered manually or a CSV file can be uploaded. The CSV upload option is only available if no MLOs have been entered in this section. To manually complete MLO(s): 1. Click Section I - MLO on the navigation panel. 2. Click Add New. [Result] The Section I - MLO(s) screen displays. 3. Complete all required fields. 4. Click Save. NOTE: A new line appears for continual entry. After saving the last entry, click the Undo Insert icon to remove the remaining blank entry. Copyright SRR Page 20 Release

23 Users may also upload a CSV file of MLOs to populate Section I - MLO(s). The CSV upload option is only available if no MLOs have been entered in this section. To delete previously entered MLOs so a CSV file can be uploaded, click the Delete All link. See the Mortgage Call Report page of the NMLS Resource Center for CSV specifications. To upload MLO(s): 1. Click Section I - MLO on the navigation panel. 2. Click Upload MLOs. NOTE: If the Uploaded MLOs button does not appear the previously entered MLOs must be deleted by clicking the Delete All link. [Result] The Section I - MLO File Upload screen displays. 3. Click Browse. [Result] A new window opens to browse a list of files. Copyright SRR Page 21 Release

24 4. Select the.csv document to be uploaded. 5. Click Open. 6. Click Process. [Result] The Section I - MLO File Processing screen displays. [Result] Once the file has completed processing, the Section I - MLO(s) screen displays with all uploaded MLO(s). Users may enter additional MLO(s) manually if needed as well as edit the uploaded MLO information. Copyright SRR Page 22 Release

25 Explanatory Notes Explanatory Notes is an optional text field in which a company user can provide additional information to the regulator. 1. Click Explanatory Notes on the navigation panel. 2. Enter text in the Explanatory Notes field. 3. Click Save. Completeness Checks for Standard State-Specific RMLA A completeness check must be performed before the component can be marked as Ready to Submit. The completeness check will ensure all required information has been provided in the appropriate format. If the component does not pass the completeness check, the screen will list the section(s) within the component where an error has occurred and provide a description of the each error that exists. To run a Completeness Check: 1. Click Completeness Check on the navigation panel. 2. If errors exist, click the section link to go to the corresponding section and correct the error. 3. Repeat steps 1 and 2 until all errors are resolved. Copyright SRR Page 23 Release

26 Mark State-Specific RMLA as Ready to Submit Once all component statuses are Ready to Submit, the MCR may be submitted. If the component is not Ready to Submit, then click Return to MCR Components to return to the Mortgage Call Reports Components screen. 1. Click Ready To Submit. [Result:] The Mortgage Call Reports Components screen displays. Add State-Specific RMLA Component The company has the option of adding additional RMLA component(s) for any state(s) NMLS did not automatically create. To add an RMLA Component: 1. From the Mortgage Call Report Components screen, click Add New RMLA. Copyright SRR Page 24 Release

27 2. Select a state from the drop-down menu. 3. Click Add RMLA. [Result:] The Section I screen displays. For information on how to fill out the RMLA see Completing a Standard Residential Mortgage Loan Activity (S-RMLA) Component. Submit an S-RMLA MCR Filing The RMLA component must be in a Ready to Submit status in order to submit the MCR filing on the Mortgage Call Report Component screen. To submit an MCR filing: 1. Click Completeness Check and Submit. [Result:] The Completeness Check and Submit screen displays. NOTE: If errors are displayed see Completeness Check for S-RMLA Component Level for details. Copyright SRR Page 25 Release

28 2. Select the checkbox next to I verify that I am the named person above and that I am authorized to attest to and submit this filing on behalf of the Company. 3. Click Attest and Submit. NOTE: The Attest and Submit button can only be selected after the user selects the checkbox verifying that they are the person named in the attestation language above and authorized to submit this filing. [Result:] The post submission landing page displays with a message indicating that the filing is being processed. Copyright SRR Page 26 Release

29 The Expanded MCR (E-MCR) filing includes both the FC and RMLA components. The filing period is a noncumulative quarter which is filed on calendar quarter basis. The expanded MCR consists of the standard subset in addition to the expanded fields. An E-FC is comprised of the following sections: Schedule A - Assets Schedule B - Liabilities and Equity Schedule C - Income Schedule D - Non-Interest Expenses and Net Income Schedule O - Reserves and Valuation Allowance Rolllforwards Explanatory Notes Completeness Checks and Warnings An E-RMLA is comprised of two components: Completing an Expanded MCR Filing Company-Level Information (Lines of Credit and Notes) Lines of Credit Explanatory Notes State-Specific Information Section I (contains loan activity): Application data Closed loan data MLO-specific data Section I - MLO(s) (contains MLO information) Section II which, among other items, contains: Loan type counts FICO distributions Loan to value information Warehouse information Section III which, among other items, contains: Loan modification information Delinquency status Foreclosure status Explanatory Notes Completeness Checks To complete an E-MCR component: 1. From the NMLS Home screen, click the Filing tab. Copyright SRR Page 27 Release

30 2. Click MCR on the sub-menu. 3. Click Create New MCR. 4. Select the Year from the drop-down menu. 5. Select the appropriate quarter (e.g., Q1) from the Period drop-down menu. Copyright SRR Page 28 Release

31 6. Click Create Expanded MCR. [Result:] The Mortgage Call Report Components screen displays the status of the component. 7. Click the Edit icon for the FC or RMLA Component. [Result:] The FC or RMLA screen displays. Copyright SRR Page 29 Release

32 To complete an E-FC component: 8. Complete each schedule of the FC by clicking the schedule names on the navigation panel. Please see Completing a Standard Financial Condition (S-FC) Component for further instruction. In addition to Schedules A-D, Schedule O must be completed for the expanded version. Users have the option to turn on the completeness check before proceeding to the next section by clicking the Completeness Check Mark icon. When using the completeness check, all required fields are highlighted. If an error has occurred, a description of the error displays in a yellow bar directly beneath the sandbar. See an example of the completeness check below which includes a missing value. Users may also use the Fill Blank Fields With Zero button to assist in completing any FC Schedule. NOTE: Schedule O is completed in the same manner as Schedules A-D. To complete an E-RMLA component: 9. Complete both components of the RMLA (the company-level Information and state-specific information. Please see Completing a Standard Residential Mortgage Loan Activity (S-RMLA) Component. In addition to Section I of the RMLA, Sections II and III must be completed for the expanded version. NOTE: Sections II and III are completed in the same manner as Section I. Copyright SRR Page 30 Release

33 Mark E-MCR as Ready to Submit Each component must be in a Ready to Submit status in order to submit the MCR filing on the Mortgage Call Report Component screen. Please see the following sections for steps on marking each component as Ready to Submit: Mark FC Component as Ready to Submit Mark Company-Level RMLA as Ready to Submit Mark State-Specific RMLA as Ready to Submit Submit an E-MCR Filing To submit an MCR filing: 1. Click Completeness Check and Submit. [Result:] The Completeness Check and Submit screen displays. Copyright SRR Page 31 Release

34 NOTE: If errors are displayed see Completeness Checks and Warnings for S-FC Component Level and/or Completeness Check for S-RMLA Component Level for details. 2. Select the checkbox next to I verify that I am the named person above and that I am authorized to attest to and submit this filing on behalf of the Company. 3. Click Attest and Submit. NOTE: The Attest and Submit button can only be selected after the user selects the checkbox verifying that they are the person named in the oath above and authorized to submit this filing. [Result:] The post submission landing page displays with a message indicating that the filing is being processed. Copyright SRR Page 32 Release

35 Upload an MCR Filing NMLS provides company users with the ability to create an MCR filing either through manual data entry within NMLS, or through an upload of a XML file. The MCR XML upload feature provides a streamlined option for creating an MCR filing for those companies that are able to extract MCR information from their internal systems. The upload feature may be used to create an initial MCR filing, change information on a pending MCR filing, or amend information on a previously-submitted MCR filing. There are multiple versions of the MCR Form due to the form being updated and/or an NMLS system enhancement. Please review the MCR XML Specification Document accessible from the Mortgage Call Report XML Specification page on the NMLS Resource Center, as the NMLS Call Center cannot provide technical support. To upload an MCR filing: 1. From the NMLS Home screen, click the Filing tab. 2. Click MCR on the sub-menu. 3. Click Upload New MCR. Please visit the Mortgage Call Report XML Specification page for current and previous MCR XML Sample Files on the NMLS Resource Center. Please use the current MCR XML version for new filings. When making an amendment, refer to the form version displayed on the Mortgage Call Reports screen for the form version. [Result:] The Upload MCR Filing screen displays. 4. Click Browse. Copyright SRR Page 33 Release

36 [Result:] A new window opens to browse a list of files. 5. Select the XML file to be uploaded. 6. Click Open. 7. Click Upload. NOTE: MCR Filings are not submitted upon the upload of an XML file. The company must complete the process by attesting to and submitting the MCR Filing. [Result:] The MCR Upload File History screen displays. Copyright SRR Page 34 Release

37 View MCR Upload History The MCR Upload History screen provides all upload history including statuses of uploads and links to any errors encountered while processing a file. To view MCR Upload History: 1. From the NMLS Home screen, click the Filing tab. 2. Click MCR on the sub-menu. 3. Click MCR Upload History on the navigation panel. [Result:] The MCR Upload File History screen displays. Column Headings File Name - The name of the file uploaded Status - The status of the XML file Upload Complete - The XML file uploaded successfully Upload Pending - The XML file is in the upload process Invalid - The XML files contains errors discovered in the validation process. Click the View Errors link to display the MCR File Validation Errors screen for details and see the Mortgage Call Report XML Specification page for validation rules and messages Upload Failed - An unexpected error occurred and the XML file could not be validated, please contact the NMLS Call Center Description - Identifies the filing type, year, period, and period end date Upload On - The date the file was uploaded Uploaded By - The user name of the user that uploaded the file Copyright SRR Page 35 Release

38 View MCR Upload Errors To view MCR Upload Errors: 1. From the NMLS Home screen, click the Filing tab. 2. Click MCR on the sub-menu. 3. Click MCR Upload History on the navigation panel. Copyright SRR Page 36 Release

39 [Result:] The MCR Upload File History screen displays. 4. Click View Errors link. [Result:] The MCR File Validation Errors screen displays. NOTE: Please see the Mortgage Call Report XML Specification document on the NMLS Resource Center for validation rules and explanation of error messages. Once errors have been resolved, the new file may be uploaded. Once the file has been successfully uploaded, please complete the following steps, as applicable: Completing a Standard Financial Condition (S-FC) Component Completing a Standard Residential Mortgage Loan Activity (S-RMLA) Component Completing an Expanded MCR Filing Copyright SRR Page 37 Release

40 Amend an MCR Overview An MCR filing remains on the Mortgage Call Report screen for two years from the period end date and can be amended during that time frame. Filings past that time frame cannot be amended, however they can be viewed in Company Composite View under Historical Filings. Filings can be amended manually or by uploading an XML document with the updated information. Any amendment to an MCR Filing must be done within the same form version. MCR Form Versions An MCR version is determined by the date the MCR was created. When there are changes to the MCR Form version such as adding or changing fields, adding calculations, adding new functionality (uploading data), then there is a new MCR Form version. This is noted by V1, V2, etc. when filing or viewing an MCR. Details on the changes made with the new form versions are available on the Resource Center. MCR Version screen Note: The version number is also located on the Mortgage Call Report Components, View MCR Components, and the Print MCR filing screens. Copyright SRR Page 38 Release

41 Amend an MCR Filing To amend an MCR Filing: 1. From the NMLS Home screen, click the Filing tab. 2. Click MCR on the sub-menu. [Result:] The Mortgage Call Reports screen displays. The Mortgage Call Reports screen displays pending filings and processed filings within the last two years from the period end date with the following Column Headings: Available Actions - icons listed below View Filing/Edit/Submit View, edit, and/or submit the filing. Delete Remove the pending filing from the system. Undo Amendment Remove an MCR filing in a Pending Amendment status. This option is not available after an amendment has been submitted. Once a pending filing has been cancelled the last processed filing information will be restored. Upload Upload an XML file to the filing. Year - The reporting period year Period - The reporting period type (annual, quarterly, or other) Period End Date - The reporting period end date Format - The filing format: Standard or Expanded Status - Status of filing: Pending Initial - Initial filing, not yet submitted Pending Amendment - Amendment to filing, not yet submitted Processed - Filing has been submitted and processed Last Updated By - The user who last took action which resulted in a status change Last Updated Date - The effective date of the status change 3. Click the View/Edit/Submit icon next to the filing to be amended. Copyright SRR Page 39 Release

42 NOTE: In this example the filing will be amended manually. To amend the filing via upload, click the upload icon. See the Upload an MCR Filing steps for more information. 4. Click the Edit icon for the component to be amended. 5. Click Continue. [Result:] The Schedule A, Lines of Credit, or Section I screen displays and the filing is in edit mode. 6. Complete the amendment filing. To complete the amendment see the following steps: Completing a Standard Financial Condition (S-FC) Component Completing a Standard Residential Mortgage Loan Activity (S-RMLA) Component Completing an Expanded MCR Filing Copyright SRR Page 40 Release

43 Upgrade a Standard MCR to an Expanded MCR Filing A company may upgrade from a Standard MCR filing to an Expanded MCR filing. Companies may opt to file the expanded version for a variety of reasons such as satisfying a regulator s request, becoming GSE-approved during the quarter, or having their records in a format similar to the expanded version. Once upgraded, the Expanded MCR is the filing type for that reporting period. A company cannot downgrade to a Standard MCR for that period. A Standard MCR may be filed for the next reporting period. To upgrade an MCR filing: 1. From the NMLS Home screen, click the Filing tab. 2. Click MCR on the sub-menu. 3. Click the View/Edit/Submit icon next to the filing to be upgraded. 4. Click Use this link to upgrade your MCR to expanded format. Copyright SRR Page 41 Release

44 5. Click Upgrade. [Result:] The Mortgage Call Report Components screen displays and the filing has been upgraded to expanded. To complete the Expanded MCR Filing see the following steps: Completing an Expanded MCR Filing Completeness Check for S-FC Component Level Completeness Check for S-RMLA Component Level Submit an E-MCR Filing Copyright SRR Page 42 Release

45 Submitting Financial Statements Financial statements are used to determine a company s net worth. In addition, they may be used by regulators when conducting examinations and investigations. Several regulators require submission of a financial statement prior to requesting a license/registration or within 90 days of the company s fiscal year end. Many regulators also have a minimum net worth requirement that must be met in order for a company to apply for or renew a license/ registration. Please note that each jurisdiction may have specific financial statement requirements. Please see the NMLS Resource Center, for information on requirements for Financial Statements. Financial Statements are divided into the following categories: Audited Financial Statement - A financial statement that has been reviewed by a CPA or equivalent, and represents all components of a financial statement including the balance sheet, cash flow statement, and income statement. Unaudited Financial Statement - A financial statement where one or more components including the balance sheet, cash flow statement, and income statement has NOT been reviewed. The unaudited financial statement is classified as: - Unaudited Compiled - assembled by a CPA or equivalent, but not assessed for accuracy - Unaudited Reviewed - assessed by a CPA or equivalent To create a financial statement filing: 1. From the NMLS Home screen, click the Filing tab. 2. Click Financial Statements on the sub-menu. Copyright SRR Page 43 Release

46 3. Click Create Filing. 4. Select the Period Type from the drop-down. 5. Enter the Fiscal Year (YYYY). NOTE: For additional information on Period Types refer to the Submitting Financial Statements on NMLS screen on the NMLS Resource Center. 5. Click Create. 6. Complete the Financial Information. 7. Click Save. NOTE: When a period type other than Annual/Initial is selected, the Key Financial Data section of Financial Information will not appear for completion. Copyright SRR Page 44 Release

47 9. Click Accountant Information on the navigation panel. 10. Complete the Accountant Information (not required for Unaudited Financial Statements). 11. Click Save. 12. Click Financial Statement Attachment on the navigation panel. 13. Click Add. Copyright SRR Page 45 Release

48 14. Click Browse. [Result:] A new window opens with a list of computer files. 15. Select the Financial Statement document to be attached to the filing. 16. Click Open. NOTE: The financial statement must be in a searchable PDF format and may not exceed 8MB. See PDF Tips on the NMLS Resource Center. 17. Click Save. 18. Click Completeness Check and Submit on the navigation panel. 19. Select the checkbox next to I verify that I am the named person above and that I am authorized to attest to and submit this filing on behalf of the Applicant. 20. Click Submit Filing. Copyright SRR Page 46 Release

49 Amending Financial Statements To amend an existing financial statement filing: 1. From the NMLS Home screen, click the Filing tab. 2. Click Financial Statements on the sub-menu. 3. Click the Period Type link to amend the financial statement for the corresponding year. [Result:] The Manage Filings - Financial Statements screen displays. 4. Click Continue. [Result:] The Financial Information screen displays. Copyright SRR Page 47 Release

50 View Historical Financial Statement Filings To view historical financial statements: 1. From the NMLS Home screen, click the Filing tab. 2. Click Financial Statements on the sub-menu. 3. Click Historical Filings on the navigation panel. 4. Click the Fiscal Year link. [Result:] The Historical Filings Details screen displays. NOTE: By clicking the Period Type link, the most recently submitted version of the Financial Statement filing for the corresponding fiscal year opens in a new browser window or browser tab. 5. Click the View Filing icon. [Result:] The Financial Statement filing opens in a new browser window or browser tab. Copyright SRR Page 48 Release