What is included in the Residential Mortgage Loan Activity component of the Mortgage Call Report?

The Residential Mortgage Loan Activity component of the Mortgage Call Report includes information on loan applications and closed loans. This aspect is vital because it reflects the activities of a mortgage lender or loan officer, providing insights into the overall lending operation. Specifically, this data encompasses the number of loan applications received, their status, and the number of loans that have been successfully closed within a given reporting period.

This information is crucial for regulatory compliance and helps regulators assess the lending practices of institutions, thereby ensuring transparency and accountability in the residential mortgage market. While other options touch on components related to mortgage activities, they do not directly relate to the Mortgage Call Report's focus on tracking loan applications and closings, which makes the chosen answer the most relevant.