NMLS Industry Update: 2016 Conference & 2015 Statistics

Industry Articles

The NMLS (Nationwide Multistate Licensing System & Registry) held their annual conference and training February 16-19 in Phoenix, Arizona. Attended by mortgage regulators, licensees and educators of all types, the conference provides attendees with the opportunity to exchange information and learn about new regulatory and compliance issues that affect their organizations.

Hondros Family of Companies associates Cyndi Donaldson and Allison Jenkins attended the conference for industry updates, thought leadership, meetings with customers and to see what the NMLS has planned for education.

“The growth in licensing and continuing education in 2015 is certainly encouraging for the year to come. We have an opportunity to really grow our mortgage business and the B2B mortgage education business,” said Cyndi Donaldson, Product Manager for Hondros.

The NMLS conference hosted a one day session for education providers, along with other sessions on federal and state regulatory updates and NMLS 2.0- changes to their systems and how they affect users of the NMLS system, testing and education update.

Highlights from the NMLS Conference and 2015 SRR Report:

  • 408,542 licenses issued in 2015 (there can be multiple licenses per licensee)
  • 12,000-125,000 licensees as of February 2016 (as reported by the NMLS)
  • 37,638 national tests were administered in 2015
  • Pre-Licensing education hours consumed in 2015 increased by 31.4% from 2014 (highest in NMLS history)
  • In 2015 there were 148,367 MLOs who completed 935,692 hours of pre-licensing education and 1,155,358 hours of continuing education
  • In 2015 the number of course providers dropped by three but the number of approved courses increased by 15%

(Source: NMLS Conference, 2015 SRR Report http://mortgage.nationwidelicensingsystem.org/about/Documents/SRR_2015AR_Web.pdf)

The mortgage industry is continuing to grow and offers unlimited potential. Interested in being a part of this booming profession? Call us today at 1.888.HONDROS or visit our website at www.hondros.com and learn how you can jump start your new career!