VT Mortgage Bankers Association Mortgage Compliance Conference

1. VT Mortgage Bankers AssociationMortgage Compliance Conference Friday, March 4, 2011 Lake Morey Resort, Fairlee, VT

2. NMLS Mortgage Call Report (MCR) Purpose • Timely and uniform company mortgage activity and financial condition reporting through the NMLS • Mortgage Call Report will provide state mortgage regulators with the data necessary for effective monitoring of their licensees and mortgage activities in their state • The NMLS Mortgage Call Report will also provide companies with uniform reporting requirements across state lines

3. The Basics • Standard Section • All companies • Expanded Section • Companies that are approved Fannie Mae or Freddie Mac Sellers/Servicers or are Ginnie Mae Issuers

4. Standard Section • Production activity submitted on a calendar quarterly basis • Activity segregated by each state • Financial information submitted on annual fiscal basis

5. Expanded Section • Includes data elements of Standard Section • Information collected on the Mortgage Bankers’ Financial Reporting Form (MBFRF) • Production activity submitted on a calendar quarterly basis • Activity segregated by each state • Financial information submitted on a calendar quarterly basis

6. General Information • Terms and instructions are same as HMDA and MBFRF • Must reflect the complete residential mortgage activity of the company by state • Must include all data for the MLOs employed by a company • Information is reflective of quarter and is not cumulative • Due within 45 days of end of quarter

7. General Information • Financial condition report of the Standard Section is due annually 90 days from company’s fiscal year • Not all information on forms is applicable to every company, can provide a N/A or 0 (zero) value • Text box is available for company to provide explanatory notes

8. Standard - RMLA Section I • Application Data Categories • Directly received from borrower • Received from 3rd party • Closed Loan Data Categories • Brokered • Closed – Retail Application • Closed – Wholesale Application • Mortgage Loan Originator Data • Name & NMLS ID # • Amount & count

9. Standard - RMLA Section I • Application Data • Applications In Process at the Beginning of the Period • Applications Received • Applications Approved but not Accepted • Applications Denied • Applications Withdrawn • File Closed for Incompleteness • Loans Originated • Applications in Process at the End of the Period

10. Standard - RMLA Section I • Closed Loan Data • Loan Type • Property Type • Purpose of Loan or Application • HOEPA • Lien Status • Fee Information

11. Standard - RMLA Section I • Reverse Mortgages • Loan Type • Purpose of Reverse Mortgage • Fee Information • Repurchase Information • Lines of Credit

12. Expanded - RMLA Section II • Residential First Mortgage (1-4 Unit Residential ONLY) • Other Mortgages

13. Expanded - RMLA Section II • First Residential Mortgages • Retail, Wholesale Correspondent, Wholesale Broker • Fixed Rate, ARM • Jumbo, Non-Jumbo • Interest Only • Option ARMS • Loans with Prepayment Penalties

14. Expanded - RMLA Section II • First Residential Mortgages (cont.) • Purchase, Refi, Cash Out, Restructure • Owner-Occupied • Loans with PMI • Loans with Piggyback Seconds • Borrowers with FICO Scores • LTV ratios • Investors

15. Expanded - RMLA Section III • Modifications • Contracted for by Lienholder/Servicer • Delinquency Status • Foreclosure Status

16. Important Reminders • All licenses must submit on or before April 1, 2010, the Annual Report of Licensee for Year Ending December 31, 2010 to the Vermont Banking Division • Complete MCR within 45 days of end of calendar quarter • Submit financial reports within 90 days of end of licensee’s fiscal year in addition to reporting requirements of MCR

17. Important Links • Vermont Banking Division www.vermontbanking.info • NMLS Resource Center www.mortgage.nationwidelicensingsystem.org