WBK Industry News - State Regulatory Developments

CSBS Issues FAQ on MCR Version 6, Information on Grace Periods

CSBS recently issued an FAQ on Form Version 6 (FV6) of the Mortgage Call Report, which goes into effect on January 1, 2024, and must be used by all filers beginning April 1, 2024.  The FAQ addresses shared appreciation loans, the state-specific supplemental form, and pre-approvals.

CSBS also issued a chart listing several state agencies’ grace periods for the Q1 2024 FV6 filing, with many states offering a grace period of 30 or 60 days.

WBK covered the release of FV6 here.