NAMB Voices Doubt Over States’ Authority to Propose Call Report
June 1, 2010
The mortgage broker industry warned member state agencies of the Nationwide Mortgage Licensing System and Registry that they may not have the legal authority to require licensees to submit quarterly mortgage call reports. Expressing concern in a comment letter over the recent NMLSR proposal, the National Association of Mortgage Brokers questioned the statutory basis for the proposed mortgage call report and called for an explanation as to why companies, rather than individual licensees, should be