More Individual NMLS Licenses among Fewer Companies in Q1 2014

The first quarter 2014 report of the NationalrnMortgage Licensing System (NMLS) released today states there were 15,246rnentities that held a total of 34,054 licenses to operate as a mortgage company.rnThis represents a decrease in the number of companies holding licenses of 1.8rnpercent from one year earlier.   There werern19,493 branches holding licenses to issue mortgages.</p

Licenses to operate as a mortgage loanrnoriginator (MLO) were held by 117,674 individuals at the end of the firstrnquarter, an increase of 4.2 percent from the first quarter of 2013.  Licensed companies had an average of 7.4 loanrnoriginators.</p

NMLS received a total of 1,521rnapplications for company licenses during the quarter and approved 1,383.  Only a handful (five) of applications wererndenied; 283 applications were withdrawn. rnAt the same time more than double that number of licenses were revokedrn(16), surrendered (607), or terminated (2,018), a total of 2,641 licensernexpirations.</p

There were 29,129 applications submittedrnfor licenses as mortgage originators in the first quarter.  A total of 29,168 applications (counting carryover prior to Q1) were approved,rn177 denied, and 2,592 withdrawn.  </p

There were 10,336 institutions holdingrnfederal mortgage registrations in the first quarter and 392,896 individuals.  The number of individuals decreased by 0.2rnpercent year-over-year. Ninety-six companies and 3,585 MLOs held both federalrnregistration and one or more state licenses.</p

NMLS’s Mortgage Call Report estimates thatrna total of about $100 billion in mortgage loans were originated in the firstrnquarter of 2014.  This was a decrease ofrn53 percent from the first quarter of 2013.</p

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NMLS handles licensing for most of thernnation with the exception of Missouri and a single licensing entity in bothrnTexas and Utah. 

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