Surge in Georgia Mortgage License Terminations

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12 · 23 · 15

As the number of U.S. home loan originators has expanded, one state — Georgia — saw an excessive number of mortgage licenses terminated.

As of the third quarter, there were 531,195 mortgage loan originators who were registered in the
Nationwide Mortgage Licensing System.

The nation’s originator ranks have grown from three months earlier, when a previously reported 522,938 loan officers were NMLS-registered.

Mortgage originators have also grown in numbers compared to a year earlier, when there were 516,679 people registered.

The figures were presented by the Conference of State Bank Supervisors in the NMLS Mortgage Industry Report – 2015 Q3 Update.

Some originators leave the mortgage business at some point prior to the end of the year. But their NMLS registrations remain intact through Dec. 31 — making the year-over-year comparison the clearest indication of trends.

Third-quarter 2015 numbers included 130,284 state-licensed originators. This group
expanded from 124,568 three months earlier and 127,745 one year earlier.

By state, the biggest percentage increase in the number of state-licensed originators compared to a year earlier was in Oklahoma, where the total surged 36 percent.

Just two originator licenses were revoked during the latest quarter, one in Nevada and the other in Utah.

Georgia terminated 156 licenses — far more than all other states combined.

Additionally included in the latest U.S. total were 405,738 federally registered bank originators, more than the second quarter’s
402,482 and the third-quarter 2014’s 393,981.

The third-quarter 2015 total included 217,937 originators working for firms regulated by the Office of the Comptroller of the Currency, 85,768 employed by banks supervised by the Federal Deposit Insurance Corp., 56,348 whose employers were credit unions regulated by the National Credit Union Administration, 46,454 originators on board at companies supervised by the Federal Reserve Board, and 1,772 who worked at
Farm Credit Administration-regulated institutions.

A total of
4,827 originators maintained both state licenses and federal registrations. This figure was deducted from the sum total to come up with the net total.

The number of uniquely registered mortgage firms was 25,929 as of the third quarter of this year. The total was up from 25,630 the previous quarter but off from 26,290 in the year-earlier period.

The report indicated that there were 15,837 state-licensed companies with 37,325 licenses.

State-licensed company count climbed from 15,577 the prior quarter but was off from 15,887 a year prior.

Company license count was climbed 21 percent in Missouri, the biggest year-over-year gain. New York’s six percent loss was the biggest decline.

Five company licenses were revoked in California, the only state to see revocations. New York terminated 33 licenses — more than in all other states combined.

There were 21,059 unique registrations on file for branches of the state-licensed companies as of the latest report.

Federally registered financial institutions made up 10,191 of the NMLS-registered companies. Bank and credit union count increased from 10,149 in the second quarter.

However, the number of registered financial institutions diminished from 10,502 as of the third quarter of last year, in line with an ongoing consolidation trend among banks and credit unions.

In all,
99 entities maintained both state licensing and federal registrations as of the most-recent period.


Mortgage Daily Staff


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