When must quarterly mortgage call reports be filed?

Quarterly mortgage call reports are required to be filed within 45 days of the end of the calendar quarter. This timeframe is established to ensure that mortgage companies provide timely and accurate data that reflects their operations and financial status. The information collected through these reports is essential for regulators to oversee the mortgage industry effectively and ensure compliance with applicable laws and regulations.

Filing within 45 days allows institutions sufficient time to compile their data accurately after the quarter ends, which can involve gathering information from various departments and ensuring all figures are correct. This is particularly important for maintaining the integrity and reliability of the data submitted, as regulators rely on this information to monitor trends and address any potential issues in the mortgage market.

Being familiar with this timeline is critical for mortgage professionals, as failing to meet this deadline can result in penalties and could affect their standing with regulatory bodies.