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Fewer Banks Offer Mortgages as Non-Banks Grow

553,104 originators in NMLS system as of Q1

June 15, 2017

By Mortgage Daily staff



The number of financial institutions offering mortgages has fallen, while non-bank providers are up. The shift pushed up non-bank loan officer share.

As of the first quarter of this year, there were 553,104 mortgage loan originators who were registered in the Nationwide Mortgage Licensing System.

The number of registered loan originators has expanded compared to the same three-month period last year, when the total came to 527,132.

Those details and more were reported by the Conference of State Bank Supervisors in the NMLS Mortgage Industry Report 2017 Q1 Update.

The latest count consisted of 139,760 state-licensed originators who held 466,914 licenses and 416,503 federally registered originators who were employed by financial institutions. The total was reduced by 3,159 people who were both state-licensed and federally registered.

State-licensed originator share slightly widened to 25 percent from 24 percent in the first-quarter 2016, while the federally registered share dipped to 75 percent from 76 percent.

With 49,405 originators, more were licensed in California than in any other state.

The number of originators licensed in Missouri jumped 51 percent on a year-over-year basis -- more than any other state. Colorado's 41 percent gain was next, then Illinois' 39 percent, Hawaii's more than 36 percent and Arkansas' nearly 36 percent.

In Kentucky, state licensed originators rose less than 2 percent -- the smallest increase.

Among federally registered originators, 220,978 worked for banks regulated by the Office of the Comptroller of the Currency. Another 88,081 were employed at banks overseen by the Federal Deposit Insurance Corp., and 47,443 hung their hats at banks supervised by the Federal Reserve Board.

An additional 60,286 registrants were employees of credit unions regulated by the National Credit Union Administration, and just 1,912 worked at financial institutions supervised by the Farm Credit Administration.

The report indicated that there were a total of 25,278 companies in the NMLS database, a few more than 25,101 as of the first-quarter 2016.

State-licensed firms made up 15,976 of the latest total, more than 15,504 as of year earlier. In addition, 23,204 branches were licensed as of the most-recent date.

But federally registered financial institutions declined to 9,391 from 9,691.

Eighty-nine companies held both state licenses and federal registrations.

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