Last Updated on December 17, 2025

Announcement: Mortgage Call Report Version 7 (MCR FV7) Guidance

The Department of Savings and Mortgage Lending (SML) is issuing this announcement to provide guidance regarding the upcoming implementation of Mortgage Call Report Form Version 7 (MCR FV7), scheduled to begin with the Q1 2026 reporting period.

In alignment with the NMLS Policy Committee and the American Association of Residential Mortgage Regulators (AARMR), SML recognizes the importance of MCR FV7 in enhancing data quality, regulatory insight, and consistency across jurisdictions. The first reporting quarter for MCR FV7 is Q1 2026, with the submission window opening on April 1, 2026, and reports due by May 15, 2026.

While AARMR has encouraged state regulators to consider offering a grace period for Q1 2026 MCR filings, SML will not be providing a blanket grace period.

However, SML understands the operational and system challenges associated with this transition and will take the following approach:

• SML will not actively pursue enforcement actions for late Q1 2026 MCR filings, unless warranted for other reasons.
• Forbearance from enforcement actions may be considered on a case-by-case basis during examinations.
• Licensees and registrants must make a good faith effort to submit accurate Q1 2026 MCRs on time. “Placeholder” filings with inaccurate data are not acceptable and should not be used to meet the timing requirement.
• Licensees and registrants should immediately amend MCRs if errors are discovered after filing.

To support industry readiness, the Conference of State Bank Supervisors (CSBS) has released XML specifications (as of October 31, 2025), will offer a testing option beginning in January 2026, and is hosting “Office Hours” from November 2025 through April 2026 to assist with implementation. Information about MCR FV7 can be found on the NMLS State & Agency News page. The MCR Form Version 7 field definitions, sample Excel form, and schema are available on the NMLS Resource Center page.

For questions regarding the filing of Mortgage Call Reports (MCRs), please contact: *protected email*.