More Originators Move From Banks to Non-Banks

Mortgage News

Mortgage Daily Staff

                                                 January 10, 2014

As the number of loan originators working for financial institutions continued to dwindle, the count for state-licensed originator registrations grew.

As of the second quarter, 511,233 mortgage loan originators were registered in the Nationwide Mortgage Licensing System, according to the Conference of State Bank Supervisors,.

Registrations included originators who were state licensed and loan officers who were employed by a financial institution and registered in the federal database.

The total was reduced by 4,305 to reflect originators who were registered in both the state and federal databases.

Registrations climbed from the first quarter, when the number was 506,985, but slid from 516,707 in the second-quarter 2013.

The most-recent figure reflected 123,171 state-licensed originators. State registrations jumped from 117,674 three months earlier and 119,571 a year earlier.

South Dakota saw a 63 percent rise in registrations from the second-quarter 2013 — more than any other state. Clocking in with a year-over year gain of more than 40 percent were Alaska, Louisiana, Montana and Wyoming.

Another 392,367 employees of financial institutions were registered in the second-quarter 2014.

But unlike state-registered originators, the count for federal registrations fell from 392,896 in the first quarter and 400,919 in the second-quarter 2013.

Arkansas grew the number of bank originators by 25 percent versus the second quarter of last year, the biggest rise of all states. The next-biggest gain was 11 percent in both Oklahoma and West Virginia. All other state increases were in the single digits.

On the flip side was a 21 percent decline in Nevada — the biggest loss of any state. Vermont followed with a 15 percent loss, then 12 percent in Arizona, 11 percent in Ohio and 9 percent in Missouri.

The report indicated that 25,881 companies were registered in NMLS, increasing from the previous quarter’s 25,486 but off from 26,357 in the same three-month period last year.

The second-quarter 2014 company registration total included 15,547 state-licensed entities and 10,434 financial institutions in the federal registry. The sum was reduced by a hundred to reflect entities that had both state and federal registrations.

In addition, there were 19,860 company branches in the state NMLS registry.

Hawaii saw a 23 percent increase from the second quarter of last year in state-registered companies — more than any other state. A 5 percent drop in Connecticut was the biggest decline.

The report indicated that non-bank originators generated around $140 billion in mortgage production during the second quarter, climbing from a little more than $100 billion in the previous three-month period but sinking from roughly $225 billion in the three months ended June 30, 2013.

Mortgage Daily Staff

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