Nearly a half million loan originators are registered in the country’s national database, and around 15 percent of them operate out of California. Since the end of last year, the number of state-licensed originators has fallen while an increase was reported for originators working at financial institutions.
As of the first quarter, 482,080 mortgage loan originators were registered in the Nationwide Mortgage Licensing System and Registry, according to quarterly data.
The total reflected state-licensed originators and loan originators who are included in the federal registry. The sum was adjusted for 3,120 originators who are registered both on a state and federal basis.
The first-quarter total included 105,595 state-licensed originators who maintained 207,187 licenses including some in more than one state. State-licensed originator count fell from 116,991 as of the final quarter of last year. But the number of registrants has grown from 100,098 in the first-quarter 2011.
A “significant” portion of the year-over-year increase was the result of states completing their transitions to the NMLS.
California had more state-licensed mortgage loan originators than any of its counterparts, with 13,722 licensed by the Department of Corporations and 17,644 licensed by the Department of Real Estate. Another 12,106 were licensed in Florida, while Texas originators included 11,295 licensed by the Department of Savings and Mortgage Lending and 698 licensed by the Office of Consumer Credit Commissioner.
Two originator licenses were suspended in Kentucky, and two were revoked in Georgia.
License applications received by NMLS totaled 18,557 during the first three months of this year.
In addition to state-licensed originators registered with NMLS, 379,605 mortgage loan originators were included in the federal registry, climbing from 375,654 in the fourth quarter.
While the majority of institutions employed no more than 10 originators, the top-five accounted for 130,000 — or more than a third — of all federally registered originators.
The Federal Registry included 45,553 originators who worked at credit unions, 110,085 who were employed by state-chartered banks and 223,967 originators at federally chartered banks.
California accounted for 40,031 of originators in the Federal Registry, while 26,461 were in Texas, 21,116 were in Florida and 23,335 were in New York.
Mandatory registration by originators at financial institutions was required as of July 21, 2011.
NMLS said 15,883 unique state-licensed entities were in its database as of March 31, slipping from 17,121 in the prior period and 14,980 in the same period during the prior year. Companies included in the first-quarter total had 31,686 licenses — including licenses in multiple states.
Among state-licensed entities, 88 percent offered first-mortgage broker services and 73 percent brokered second mortgages. First mortgage lending was done by 22 percent, and 16 percent did second-mortgage lending.
Home-equity lending was offered by 46 percent, while 35 percent originated loans guaranteed by the Department of Veterans Affairs and 24 percent originated reverse mortgages. Only 9 percent were direct endorsement mortgagees for the Federal Housing Administration.
Unique branch count also fell, to 17,721 from the fourth quarter’s 18,791. Branch count was 15,957 in the first quarter of last year.
Federally chartered financial institutions active in NMLS’ Federal Registry totaled 10,575 as of the first quarter, declining from 11,081 during the final period of last year. The most-recent number included 3,913 credit unions, 4,865 state-chartered institutions and 1,798 federally chartered institutions.
