National Registry Sees Rapid Growth
The number of states going live with the national licensing registry for mortgage loan originators will double by next month, while the number of registered entities and individuals is expected to triple by yearend.

Six states will begin using the Nationwide Mortgage Licensing System on July 1, the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators announced today.

The latest additions will bring to 14 the number of participating states.
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Mass. Originators, Brokers Exit Industry
Massachusetts has seen a significant decline in the number of mortgage brokers and originators. One trade group executive speculates that rising regulations and evaporating originations are to blame.

States Step Up Mortgage Legislation
From Oregon to New York, states are stepping up legislation to reign in mortgage lending practices. But some experts are warning that some of the states are going too far.

OTS Proposes Bank Regulation for Lenders, Brokers
The nation's thrift regulator wants to regulate mortgage bankers and mortgage brokers. He suggested the credit crisis might not have been so severe if mortgage companies had been regulated like banks.

Broker Licenses Tumble
A sharp decline in the number of licensed mortgage brokers has been fueled by the loss of subprime programs, a decline in broker market share and the collapse of many wholesale lenders. Among states with the biggest declines were Florida, Minnesota and Ohio.

Groups Weigh In on Treasury Blueprint
Mortgage bankers threw their support behind a plan announced by the U.S. Treasury Department today. Mortgage brokers were a bit more skeptical in their endorsement.

Becoming, Staying FHA Approved
As secondary market investors tighten conventional lending requirements and costs, government-insured programs are expanding to cover the shortfall -- with recent program changes benefiting a wider pool of borrowers. But these programs can only be tapped by approved mortgage lenders and brokers or by approved net branch correspondents who operate under strict arrangements.

Builder's Mortgage Unit Settles with N.C.
Ryland Mortgage has agreed to pay more than $300,000 to settle allegations it used unlicensed originators and overcharged borrowers who purchased a home from its parent company.

Federal Licensing Bill Proposed
A Democratic Senator and a former Bush administration Republican have come together to propose federal licensing for mortgage brokers and lenders.

States Modify, Clarify New Legislation
Loan originators in New York and California face new state regulations, while new legislation in several other states has created confusion or concern -- leading some of the states to provide further clarification or make modifications.