Data on mortgage licensing activity indicates that Colorado and Virginia were among the top-five states in residential loan production by state-licensed originators.
Compared to the previous year, the number of financial institutions that were registered with the
Nationwide Mortgage Licensing System was off 3 percent in 2014.
Although the number of state-licensed mortgage companies slipped 1 percent from 2013, the number of licenses they carried was up 4 percent.
An increase in the average number of states the firms are licensed in was behind the disparity..
The details were outlined in the 2014 NMLS Mortgage Industry Report from the Conference of State Bank Supervisors.
State-licensed branch count climbed 4 percent, and the number of branch licenses rose 12 percent.
A 1 percent year-over-year decline was reported for the number of federally registered originators who work at financial institutions.
The number of state-licensed mortgage loan originators, however,
inched up 1 percent, while originator license count increased 9 percent.
The report indicated that 107,912 license applications were submitted in 2014, while 79,271 licenses were withdrawn or expired.
Last year’s origination volume for state-licensed loan officers
amounted to 2,792,259 loans for $630 billion, according to the data.
Purchase financing accounted for $370 billion of last year’s total state-licensed production.
Another $7 billion was home improvement lending, and refinances made up the remaining $253 billion.
By state, California had the most originations:
A distant second was Texas, where $49 billion in home loans were closed.
After that was $35 billion in Florida, $25 billion in Virginia and $24 billion in Colorado.
The average loans size was $403,499 in Washington, D.C. — higher than any of the states.
Wisconsin’s $112,794 average was the lowest.