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NMLS: 15,000 New Origination Branches Nationwide

On Tuesday the ""Nationwide Mortgage Licensing System"":http://mortgage.nationwidelicensingsystem.org/Pages/default.aspx (NMLS) released a ""report"":http://mortgage.nationwidelicensingsystem.org/about/Documents/Quarter-1-2011-Licensing-Data.pdf detailing the registration of some hundred-thousand loan originators and over 15,000 new branches, with California and Texas, states with the largest populations, accounting for many of the numbers.


According to the first-quarter report, new companies amounted to 14,980 in the registry, springing up by almost twice that number when indexed with trade name registrations. Over 60 percent of the registered originators identified themselves as corporations, suggesting a ramp-up among loan originators in an otherwise dismal economic climate.


NMLS reported that some 22 percent of registrants included licensed first-mortgage lenders, which came out to 3,308 by the numbers, even as 2,466 second mortgage lenders summed up 16 percent of the registration pool. Licenses for home-equity loan origination and lines of credit came out to 7,038 overall.

Some 15,957 new branches opened their doors, contrasting with the much higher rate at which mortgage originators assembled as doing-business-as companies, coming out to 24,021. Meanwhile, some 87 percent of companies managed single branches, according to NMLS.

Among states, California topped the list with 5,692 registered entities, beating Texas' 1,444 registered mortgage originators. New York ranked third, following Texas with 1,159. Vermont came in last among states with registered loan originators, yielding only 181 companies.

The registry revealed that 83 percent of licensed companies, rounding out to 12,503 registrants, maintained their business operations exclusively in one state.

According to its Web site, NMLS gathered the data to support its report from national and state companies, branches, and individual mortgage originators.

NMLS is the legal system responsible for recording license registration in states across the country.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.

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