Licenses Decline for both State and Federally Regulated Mortgages Companies

The number of companies licensed throughrnthe National Mortgage Licensing System (NMLS) declined by 2.1 percent from thernsecond quarter of 2012 to the second quarter of 2013 while the number ofrnindividuals licensed as loan originators (MLOs) increased by 8 percent.    NMLSrnsaid that a total of 15,791 companies were licensed through the system at thernend of the 2^nd quarter along with 19,546 branch offices and 119,571rnindividuals.  Companies reportedrnemploying an average of 6.7 loan officers.</p

An additional 10,669 institutions arernregistered as mortgage originators by one or more federal agencies, an annualrndecrease of 0.8 percent, as are 400,919 individuals, a number that is up 3.4rnpercent in a year.  There is only arnrelatively small overlap between NMLS licenses and federal registration withrn103 companies and 3,783 individuals holding dual status.</p

Among federally registered companies thernlargest number, 4,115 are registered through the Federal Deposit Insurance Corporationrnfollowed by the National Credit Union Administration with 3,972.  The Office of the Comptroller of the Currencyrnregisters 1,728, the Federal Reserve 792, and 62 are registered with the FarmrnCredit Bureau.</p

Nationwide NMLS received 1,632 applicationsrnfor new company licenses, 4,499 for branches, and 34,923 for individualrnlicenses.  Of those, 1,291 company applicationsrnwere approved as were 3,929 for branch offices and 30,226 for MLOs.  </p

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A total of 16 companies and 55 loanrnofficers had licenses revoked during the quarter and 2 companies and 24 MLOsrnwere suspended.  </p

The NMLS 2^nd quarter reportrnwas virtually all tabular with no explanations for some of the anomalies suchrnas an annual increase of 630 percent in company licenses held by one Californiarnlicensing division and an 85 percent decrease in the other.  It was notable, however, that the 18+ percentrnjump in company licenses in both North and South Dakota as well as the 83.6rnpercent increase in MLO licenses in the former and 63.0 percent increase in thernlatter appear to be verified by the number of applications for licenses in therntwo states and could reflect the energy industry fueled real estate boom inrnthat part of the country.

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