Final answer:
The true statement about D. Mortgage Call Reports is that mortgage companies are required to submit these reports at the end of each quarter, not MLOs, and the reports include information on mortgage lending activities, not sales calls or just non-traditional loans.
Step-by-step explanation:
The correct answer to the question, "Mortgage Call Reports, which of the following is true?" is D. Mortgage companies are required to submit Mortgage Call Reports at the end of each quarter.
Mortgage Call Reports (MCRs) are regulatory filings made to the Nationwide Mortgage Licensing System (NMLS) and are used to collect information regarding mortgage lending activities of companies.
This information generally includes the number of applications received, loans originated, loans serviced, as well as financial information.
Option A is incorrect because it is the entities that employ Mortgage Loan Originators (MLOs), not the individual MLOs themselves, that are responsible for submitting the reports.
Option B is incorrect because Mortgage Call Reports do not involve sales calls or contacts; instead, they relate to actual lending and financial data.
Option C is also incorrect since the report includes data on both traditional and non-traditional loans.