Licensing Update and Issues
11
th
Annual Mortgage Industry Seminar
November 6, 2023
11
th
Annual Mortgage Industry Seminar –
November 6, 2023
Entity License/Registrations as of October 31
11
th
Annual Mortgage Industry Seminar – November 6, 2023
0
500
1000
1500
2000
2500
3000
3500
4000
4500
2019 2020 2021 2022 2023
1493
1677
1954
2837
3266
409
416
429
438
419
203
214
225
248
249
178
215
250
325
381
Entity License/Registrations (MU1) as of October 31
Mortgage Company Mortgage Banker Mortgage Servicer Other Entities
Number of Residential Mortgage Loan Originators
11
th
Annual Mortgage Industry Seminar – November 6, 2023
0
10000
20000
30000
40000
50000
60000
2019 2020 2021 2022 2023
29998
33505
47320
56623
45326
Individual License (MU4) as of October 31
Total New License Applications
11
th
Annual Mortgage Industry Seminar – November 6, 2023
9649
16567
22663
17480
8811
0
5000
10000
15000
20000
25000
2019 2020 2021 2022 2023 YTD
Total New Applications
Total New Applications
Current Processing Times
11
th
Annual Mortgage Industry Seminar – November 6, 2023
As of October 30, 2023, processing times for initial
review of a Licensing Application:
• Company (MU1) – 7 days.
• Branches (MU3) – 5 days.
• RMLO (MU4) – 4 days
Reasons for Delay of Approval
11
th
Annual Mortgage Industry Seminar – November 6, 2023
Companies (MU1):
• Company name does not match IRS Documents.
• Company or DBA not registered with the Texas
Secretary of State.
• Registered Agent and Registered Agent Address
does not match.
Reasons for Delay of Approval
11
th
Annual Mortgage Industry Seminar – November 6, 2023
Branches (MU3):
• Operating Agreement not provided.
• New branch does not have a linked Texas Licensed
RMLO.
• Linked RMLO is requesting Temporary Authority.
Reasons for Delay of Approval
11
th
Annual Mortgage Industry Seminar – November 6, 2023
RMLO (MU4):
• Mailing Address does not match residential
address.
• Current employer information does not match the
Registered Location information.
• Not providing documents for Disclosure questions
that were answered “Yes”.
• Paying NMLS fees with an ACH.
2023 Renewal Cycle
11
th
Annual Mortgage Industry Seminar – November 6, 2023
• Renewal Period will run from November 1, 2023 to
December 31, 2023.
• Reinstatement Period will run from January 1, 2024
to February 29, 2024.
• No Reinstatement Period for Residential Mortgage
Loan Servicers Registrations.
2023 Renewal Cycle
11
th
Annual Mortgage Industry Seminar – November 6, 2023
Things to remember about License Renewals:
• File your Renewal Request as soon as possible.
• Check your State License/Registration List for
Outstanding License Items.
• Complete your Continuing Education as soon as
possible.
• If you have a Residential Mortgage Servicer
Registrations, convert to an Electronic Surety Bond
(ESB).
Questions
and
Comments
11th Annual Mortgage Industry Day - November 6, 2023
