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2018 Mortgage Industry Report Reveals Steady Shift in Employment

Washington, DC – State financial regulators released the 2018 full year Mortgage Industry Report with data covering all state-licensed and federally registered mortgage loan originators, companies and bank branches. The report is based on data collected from the mortgage call report function of the Nationwide Multistate Licensing System (NMLS), which is operated by the Conference of State Bank Supervisors (CSBS). The full report can be found here.  
 
John Ducrest, commissioner of the Louisiana Office of Financial Institutions and chair of the CSBS subsidiary that operates NMLS (State Regulatory Registry): “Employment in the mortgage origination industry continued to experience a shift towards nonbanks and away from depositories. 

“For state regulators, the Mortgage Industry Report offers vital insight into industry trends and specific companies, which improves our ability to support local communities and protect consumers.” 

Key facts from 2018:  

  • There were 17,572 nonbank mortgage companies and 9,196 depositories originating residential mortgages in the United States  
  • Employment of mortgage loan originators (MLOs) was flat compared to the prior year 
  • The number of nonbank MLOs and companies increased by 4.5% and 4.1%, respectively, from the prior year 
  • The number of depository MLOs and companies decreased by 1.5% and 3.1%, respectively, from the prior year 
  • Total originations declined by 6.9%, to $893 billion, compared to the year before 
  • Nonbank mortgage firms operating nationwide originated 56% of nonbank mortgage loans by dollar volume 
     

 Mortgage Loan Originators Operating at Nonbanks and Depositories  

Year 

MLO Individuals (nonbank) 

Companies (nonbank) 

MLO Individuals (depository) 

Companies (depository) 

2018 

165,240 

17,572 

415,517 

9,196 

2017 

158,200 

17,000 

421,700 

9,500 

2016 

145,200 

16,300 

422,600 

9,800 

2015 

135,000 

16,000 

407,200 

10,200 

2014 

131,700 

16,000 

398,700 

10,500 

2013 

130,300 

16,100 

404,200 

10,800 

2012 

105,600 

15,900 

399,300 

11,000 

2011 

100,100 

15,000 

NA 

NA 

 
Notes: ​​​​​

  • MLO: mortgage loan originator 
  • Nonbank MLOs and companies are licensed at the state level 
  • Depository MLOs and companies are registered at the federal level 
  • A small number of individuals and institutions are state licensed and federally registered 
  • Data is based on licenses and registrations processed through NMLS 
  • Federal and state laws mandate that individuals and companies that originate home loans be licensed or registered through NMLS 
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