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Banks Lose Mortgage LOs to Non-Banks

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Mortgage Daily

                                                 January 16, 2016

The number of mortgage loan officers registered in the national database has expanded over the past year as non-bank originator share widened.

Mortgage loan originators who were registered in the
Nationwide Mortgage Licensing System as of the second-quarter 2016 numbered 537,950.

The count increased from three months earlier, when there were 527,132 registrations, and from one year earlier, when the total came to 522,938.

The latest data was released Friday from the
Conference of State Bank Supervisors in its NMLS Mortgage Industry Report 2016 Q2 Update.

Included in the most-recent total were 133,868 state-licensed originators
who maintained 426,475 licenses and 407,992 loan originators employed by financial institutions and registered in the federal database.

The combined total was reduced by 3,910 originators who maintained both state licenses and federal registrations.

State-licensed originators accounted for 25 percent of the second-quarter 2016 total, boosting their share from 24 percent the prior quarter and a year prior.

Helping to lift the non-bank share was Arizona, where the number of originator licenses jumped 47 percent from the second quarter of last year. Nevada ascended 41 percent, while Oregon gained 39 percent, Maine saw a 38 percent rise and Kansas was up 37 percent.

At the same time, federally registered originators saw their share trimmed to 75 percent from 76 percent in the first-quarter 2016 and the second quarter of last year.

Among federally registered mortgage loan originators, 216,769 were employed by banks regulated by the Office of the Comptroller of the Currency, 86,600 worked for financial institutions overseen by the Federal Deposit Insurance Corp., and 47,039 hung their hat at banks supervised by the Federal Reserve Board.

Another 58,574 federally registered originators were on the payroll of credit unions regulated by the National Credit Union Administration, and 1,844 were employed at financial institutions supervised by the Farm Credit Administration.

There were 25,495 NMLS-registered companies as of the most-recent quarter. While the company count was up from 25,101 in the prior period, it has diminished from 25,630 a year prior.

The latest report reflected 96 companies that maintained both state licenses and
federal registrations.

State-licensed entities increased to 15,840 from 15,504 in the first quarter and 15,577 in the second-quarter 2015.

There were 21,822 state branch registrations with 52,196 licenses.

Colorado had the biggest year-over-year gain of any state in company licenses: 12 percent. After that was 11 percent in Missouri, North Dakota, Oregon and Rhode Island.

In New York, a 5 percent loss was recorded versus a year earlier, the biggest decline.

Federally registered entities, which were up to 9,751 from 9,691 in the prior report fell from 10,149 in the year-earlier period.

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