The ranks of mortgage loan originators grew by 3 percent during the final three months of last year. The growth came despite that one state suspended nearly a hundred originator licenses. Another state revoked the licenses of 15 companies.
As of Dec. 31, 2011, there were 116,991 licensed individuals registered with the Nationwide Mortgage Licensing System & Registry. The number of mortgage loan originators grew from 113,352 three months earlier.
The total increased each quarter of last year.
Because some loan originators are licensed in multiple states, the total number of individual licenses was 226,010 as of the end of the fourth quarter, rising from 216,531 at the end of the September.
The states with the most registered mortgage loan officers were California, with 35,451; Texas, which had 13,431 registered originators; Florida’s 12,744 registrants; New Jersey, which had 8,115 loan originators registered; and 8,025 in Washington.
Pennsylvania suspended 92 mortgage loan originator licenses during the fourth quarter, more than any other state.
Unique company registrations grew to 17,121 from the third quarter’s 16,776. The average company had 5.5 originators.
California’s Department of Corporations revoked the licenses of 15 companies, and four were revoked in Connecticut. Arizona suspended five company licenses.
Branch registrations climbed to 18,791 from 18,466. There was an average of 1.1 loan originators per U.S. branch.
Four branches in California had their licenses revoked by the Department of Corporations. In Maryland, 10 branch licenses were suspended, while three were suspended in North Carolina.
The reinstatement period for the 2011 streamlined renewal ends today at midnight, according to the registry.
“If you have not yet requested reinstatement of your state license(s) that were due to be renewed, you will not be able to do so after February 29th,” NMLS said.
New licensing forms are being implemented in April. In conjunction with the new forms, NMLSÂ is being modified for state agencies to license or register entities in a number of non-depository and non-mortgage financial service industries.
The registry said in a notice that at least 11 states plan to transition their existing licensing authorities onto NMLS this year. Next year, even more states will make the transition.
