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Alaska, W.V. See Biggest Growth in Loan Originators

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The number of licensed or registered loan originators expanded by more than 10,000 during the second quarter, with the growth fairly evenly split between banks and non-banks. Among non-banks, Alaska and West Virginia had the highest growth rates, while Delaware had the highest rate among financial institutions.

As of the end of June, 494,271 mortgage loan originators were registered through the NMLS. The number grew from 482,080 originators registered as of March 31. The second quarter figure was adjusted down 4,057 to reflect individuals who maintained both a state and federal registration.

The June 30 number reflected 110,710 state-licensed or state-registered originators who maintained a total 224,382 licenses including some in multiple states, up from 105,595 originators with 207,187 licenses as of the end of March.

In the first half of the year, 18,017 individuals were issued 36,259 state licenses. New originators accounted for 46 percent of first-half licenses issued, while 44 percent held a state license last year and 10 percent held a federal registration in 2011.

Growth was strongest in Alaska, where the number of licenses increased 25.0 percent on an annual basis. In West Virginia, license count expanded by 23.7 percent, while Michigan grew 21.5 percent. The number of licenses in place through Utah’s Department of Financial Institutions was up 21.3 percent, and Washington, D.C., saw its license count expand by 19.3 percent.

The biggest drop in licenses was with South Carolina’s Department of Consumer Affairs, which saw license count drop 12.4 percent — though the state’s Board of Financial Institutions more than made up for the loss with its 15.1 percent increase. Licenses were down 11.1 percent at the Indiana Secretary of State, but Indiana’s Department of Financial Institutions increased by more than that amount. Idaho saw its license count shrink by 4.8 percent. Connecticut’s licenses fell by 0.8 percent as 23 were surrendered, and licenses in place through the Utah Department of Real Estate were off 0.1 percent.

Kentucky suspended 27 originator licenses — the most of any state. The California Department of Real Estate revoked two licenses, and three were revoked in Washington.

Also included in the June 30 national total were 387,618 originators who were registered through the federal registry, increasing from 379,605 as of March 31. Second-quarter federal registrations included 340,642 originators who worked at federally regulated banks, 45,516 who were employed by a federally regulated credit union and 1,460 who worked at institutions regulated by the Farm Credit Administration.

Delaware saw the highest rate of increase from the first quarter in originator registrations at financial institutions: 10.7 percent. It was the only state with double-digit growth.

The only declines were in Washington, D.C., which was off 2.8 percent; South Carolina, where registrations were down 0.4 percent; and Maine and Maryland, with each state down 0.3 percent.

Out of 51,868 unique individuals who were issued a federal registration in the first half of this year, 76 percent were new registrations, 20 percent held a federal registration last year and 4 percent had a state license in 2011. Mandatory registration by originators at financial institutions wasn’t required until July 21, 2011.

The state registry reflected 16,126 unique entities that maintained 32,342 licenses, more than the 15,883 registrants with 31,686 licenses at the end of the first quarter. Of the latest number, 119 companies were also in the federal registry.

During the first six months of this year, 1,576 companies were issued 2,427 licenses. Newly licensed companies accounted for 866 of the total and 969 of the licenses, while another 710 existing licensees were issued 1,458 licenses.

In just the second quarter, the California Department of Corporations revoked eight company licenses — the most of any state. Two were revoked in Washington.

Unique state branch registrations were 17,947 with 29,704 licenses. Three months earlier, there were 17,721 registered branches. Three branch licenses were revoked by California’s Department of Corporations.

As of the end of June, 10,756 financial institutions were included in the federal registry, more than the 10,575 registered three months earlier. The Federal Deposit Insurance Corp. regulated 4,170 of the registered institutions, while 767 were regulated by the Federal Reserve Board and 1,844 were regulated by the Office of the Comptroller of the Currency. In addition, 3,917 were regulated by the National Credit Union Administration and 58 were regulated by the Farm Credit Administration.

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