State Licensed Loan Originators at Record High

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MORTGAGE EXPERT
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The quarterly number of registered mortgage loan originators expanded on a year-over-year basis, with the state-licensed count reaching the highest level on record.

Including
loan officers at financial institutions and at non-bank mortgage firms, there were 562,469 people registered in the Nationwide Mortgage Licensing System as of the second quarter.

NMLS registrations
increased compared to the same three-month period last year, when the number amounted to 537,950, and the first quarter of this year, when the total was 553,104.

Those details and more were delivered Monday by the Conference of State Bank Supervisors in the NMLS Mortgage Industry Report 2017 Q2 Update.

Included in the latest total were 146,786 state-licensed originators — more than during any other quarter
since NMLS data was first reported for the fourth-quarter 2011.

The state-licensed originators maintained 502,013 licenses — reflecting those who were licensed in multiple states.

In Arkansas, the number of state-licensed originators registered in the NMLS has risen from a year earlier by more than 45.2 percent — the biggest year-over-year growth of any state. Missouri was up 41.7 percent, then 37.9 percent in Illinois, 33.5 percent in Alaska and 33.2 percent in Hawaii.

Eighteen licenses were terminated in New York, more than any other state. In California, 18 licenses were revoked — the most of any state.

Another 419,941 originators worked for financial institutions and maintained federal registrations.

Banks supervised by the Office of the Comptroller of the Currency employed 220,768 originators, while another 89,385 worked at banks regulated by the Federal Deposit Insurance Corp., 47,867 hung their hats at institutions overseen by the Federal Reserve Board, and 1,930 were on the payroll of banks supervised by the
Farm Credit Administration. An additional 62,007 originators were employed by credit unions regulated by the National Credit Union Administration.

The latest total number of overall originators was reduced by
4,258 to account for loan officers who maintained both a state license and a federal registration.

State-licensed originators made up 26 percent of the most-recent total, widening from a one-quarter share in the year-earlier period. Federally registered originator share — which had been as broad as 77 percent in the first-quarter 2015 — thinned to 74 percent from 75 percent in the second-quarter 2016.

There were a total of 25,736
companies registered through NMLS as of the most-recent period, more than 25,495 during the second-quarter 2016.

Although the number of state-licensed entities climbed to 16,395 in the second-quarter 2017 from 15,840 a year prior, registered financial institutions fell to 9,432 from 9,751. The latest combined total was reduced by 91 to account for companies that were both licensed and federally registered.

Branches of state-licensed companies numbered 24,046 as of the most-recent date.

Mortgage Expert

Mortgage Daily Staff

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