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More Originators And Fewer Mortgage Companies - NMLS Report
Posted to: MND NewsWire
Friday, November 30, 2012 9:35 AM

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The number of state licensed mortgage companies registered with the National Mortgage Licensing System (NMLS) decreased by 2.3 percent on an annual basis while the number of individual loan originators increased by a nearly identical amount according to one of two third quarter reports issued by NMLS on Thursday.  The number of institutions registered with the federal government increased by 1.4 percent and loan originators by 1.8 percent on a quarterly basis.  State licensure information and federal registration data are reported on the state level and in separate reports

NMLS reported that, at the end of September there were 16,397 companies holding state licenses and 18,449 branches; 10,907 institutions were registered with a federal regulatory agency.   Both state and federal licenses were held by 121 companies.  Individuals licensed by the states totaled 115,826 and 394,470 were registered with the federal government with 4,836 loan originators holding both credentials. 

The 16,397 state-licensed companies held a total of 33,129 licenses and operated 18,449 branches with 31,348 licenses.   Individual loan officers held 243,840 licenses.  The average company licensed on the state level employed six loan originators.

During the quarter there were state licenses issued to 1,106 new companies, 2,600 branches, and 20,837 individuals and licenses were surrendered by 466 companies, 1,182 branches, and 1,313 individuals.  Six companies and 11 loan officer had their licenses revoked and 30 loans officers were suspended.

The state licensing report can be downloaded here and a state level summary of federally registered institutions and individuals can be accessed here.

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