Regulating Financial Services, Protecting Montanans

Mortgage Licensee Reporting Requirements

Company licensees must file a quarterly Mortgage Call Report (MCR) through the NMLS.  There are two components of the MCR filing - the Residential Mortgage Loan Activity (RMLA) and the Financial Condition (FC).

  • Companies that qualify for the Standard MCR filing:
    • RMLA is due quarterly, within 45 days of the end of every calendar quarter
      • Q1 data (January 1 - March 31) is due May 15
      • Q2 data (April 1 - June 30) is due August 14
      • Q3 data (July 1 - September 30) is due November 14
      • Q4 data (October 1 - December 31) is due February 14
    • FC – Due annually, within 90 days of your company’s Fiscal Year End
  • Companies that must submit the Expanded MCR filing*:
    • Both RMLA and FC components must be submitted quarterly, within 45 days of the end of every calendar quarter

* Companies that are Fannie Mae or Freddie Mac Seller/Servicers or a Ginnie Mae Issuer submit an Expanded Mortgage Call Report.

Read more about the MCR requirements on the NMLS website at:

The Standard Mortgage Call Report (S-MCR) requires a Financial Condition (FC) component be submitted through NMLS on an annual basis, 90 days from the fiscal year end as reported on the Company (MU1) Form. 

Please click here for filing instructions.

To comply with financial statement requirements at initial application and within 90 days after a company’s fiscal year end, the company must submit financial statements and key financial data, as applicable, through NMLS. 

Financial Statements Required for Montana Licenses: 

License Type New Applicants Annual Net Worth
Independent Contractor Entity License Not Required Not Required $0
Mortgage Broker License Not Required Not Required $0
Mortgage Lender License Unaudited (reviewed) Unaudited (reviewed) A minimum net worth of $250,000 is required for a Montana Mortgage Lender License, pursuant to 32-9-172, MCA.
Mortgage Servicer License Audited Audited If servicing FNMA, FHLMC, or GNMA loans, must meet the highest agency standard for the agency or agencies for which you service. A mortgage servicer with a portfolio of only nongovernment-sponsored enterprise loans shall maintain a minimum tangible net worth of $1 million or maintain a $1 million surety bond.


A mortgage servicer who does not meet the net worth requirements may apply for a waiver with the Department by emailing a request to 

32-9-171 (4), MCAA mortgage servicer with 25 or fewer loans, a mortgage servicer that is wholly owned and controlled by one or more depository institutions regulated by a state or federal banking agency, or a mortgage servicer that is also licensed as an escrow business may apply to the department to waive or adjust one or more of the capital requirements in subsections (2) and (3). In considering such a request, the department will consider whether the mortgage servicer has a positive net worth and adequate operating reserves.