Spring 2026 Mortgage and Consumer Loan Industry Update

New Form Version for Mortgage Call Report

A reminder to mortgage licensees that changes to the Mortgage Call Report (MCR) are effective with the Q1 2026 filing. You can learn more about the new form version by reviewing the Mortgage Call Report (V7) Guide and MCR (V7) FAQ. 

The Department issued interim guidance providing a 60-day grace period for licensees to file the Q1 MCR. The new deadline for Washington State is July 14, 2026.

Navigating the NMLS Changes

On April 18, NMLS launched a new release that impacted disclosure questions for individuals and employment history reporting for Mortgage Loan Originators (MLOs). There are several updates to be made, ideally as soon as possible. As company users, here is a list of what’s needed:

1. Plan a time with your owners, officers, and branch managers when they will be available to complete the new disclosures on their MU2 form. Be aware that you cannot submit a new filing until the owners, officers, or branch manager complete the individual disclosure questions. 
   • TIP: If an individual has an existing disclosure explanation that is still relevant to an updated question, be sure they use that existing explanation. Do not create a new explanation.
   • TIP: If a disclosure explanation is no longer relevant, be sure to include why it isn’t relevant in the amendment reason. Don’t just say “amended.”
   • TIP: For owners and officers, there is a section of the updated disclosure questions that asks if the individual is in control of a company. Current control persons should answer “yes” and then answer the subsequent questions.
2. Update the relationship section for each of your sponsored MLOs. The new release added data points to the relationship tab, like title/position, work email, and work phone number. The work remote status for the MLO should also be completed, if not already done previously.
3. Contact your sponsored MLOs to assist them with completing two items on their individual record:
   • Each MLO must complete the updated disclosure questions. The same first two tips from above are applicable to MLOs.
   • Each MLO should update their employment history to delete the current, self-reported entry for your company. With the new release, information from current and future relationships populates the MLO’s employment history, ensuring it matches.

All updates to records should be completed by August 31 to avoid any delays with renewals.

Surety Bond Compliance

Now that we’re well into 2026, don’t forget to review the amount of your Washington surety bond to make sure it is sufficient. Surety bond amounts for Mortgage Broker and Consumer Loan licensees are based on prior year activity in Washington and must be updated annually. 

The deadline for adjusting the bond amount depends on the license held. 

• Mortgage Brokers must make the adjustment by March 31
• Consumer Loan licensees must make the adjustment by March 1

If you review your 2025 volume now and need to increase your bond, make sure the effective date of the rider is the applicable deadline listed above. Adjusting your bond amount is done by the surety provider via a rider issued in NMLS which is marked “ready” by the licensee in NMLS.

Mortgage Industry Webinar

Mark your calendar to attend the Department’s next Mortgage Industry Webinar on May 20. Learn about topics that may impact mortgage licensees as well as information and data presented from our Licensing, Examinations, and Enforcement units.

For more information about the upcoming webinar and to review past webinar materials and recording, visit the Mortgage Industry Webinar webpage.

Upcoming Events/Deadlines

• July 14: Washington State Q1 MCR Filing Deadline
• Summer: CE license item set on MLOs without 2026 education completed
• Aug 14: Q2 MCR Filing Deadline