How Many Mortgage Loan Officers in the U.S.? 2025 Outlook

If you’re considering a career in the mortgage industry or want to understand the competition, you might wonder: “How many mortgage loan officers are there in the U.S.?”

The answer reveals more than just a number—it highlights the current state of the mortgage market, career opportunities, and challenges for loan officers in 2025.

How Many Mortgage Loan Officers Are in the U.S.?

According to the latest NMLS and CSBS 2023 data:

Year	Non‑Bank MLOs	Depository MLOs	Total Licensed MLOs
2018	165,240	415,517	580,757
2019	165,116	415,978	581,094
2020	183,630	399,876	583,506
2021	217,999	391,057	609,056
2022	233,224	387,294	620,518
2023	208,103	369,163	577,266

(Source: CSBS.org)

However, these totals include multiple state licenses for the same person. HousingWire (2024) reported that only 192,793 unique individuals were actively licensed as MLOs by late 2024, with about 90% actively originating loans.

What the Numbers Mean in 2025

Fewer Competitors, More Opportunity

The industry peaked in 2022 with over 620,000 licensed MLOs but dropped by about 7% in 2023. For motivated loan officers, fewer competitors mean more room to capture market share.

Rising Loan Volume

The Mortgage Bankers Association (MBA) projects 6.5 million mortgage originations in 2025, up 28% from 2024 (MBA.org). This increase favors loan officers who can move fast and close efficiently.

Shift Toward Nonbank Lenders

Nonbank MLOs grew significantly from 2018 to 2022 (165k → 233k). This trend shows more professionals leaving banks for independent brokerages to benefit from flexibility and higher commissions.

Opportunities for Loan Officers

Build Realtor and Referral Partnerships
With fewer active LOs, strong Realtor relationships can quickly position you as a go-to professional in your market.
Specialize in Niche Products
Non-QM loans, jumbo loans, and DPA (Down Payment Assistance) programs are in demand, giving brokers and independent LOs an edge.
Leverage Technology
Borrowers expect fast quotes and transparent communication. Loan officers using modern tools—pricing engines, rate alerts, and CRMs—will dominate.
Act Like an Advisor, Not Just a Salesperson
Borrowers don’t just want an approval; they want someone who can explain options and long-term financial benefits.

Challenges Loan Officers Must Overcome

Higher Consumer Expectations – Clients expect real-time communication and rate comparisons.
Strict Compliance – State regulators are tightening rules on financial responsibility and continuing education.
Market Cycles – As interest rates fluctuate, you need diverse lead sources and a strong client base to stay consistent.
Marketing Pressure – Standing out online requires consistent social media and review-building efforts.

Why Joining the Right Company Matters

Being licensed is only half the battle—success depends on the tools and support you get. At Loan Factory, we help loan officers compete and grow faster:

Access to 245+ wholesale lenders – More products for every client type.
Pricing Engine & Rate Alerts – Compete with big retail banks on rates.
Done-for-You Marketing & CRM – Build trust and automate client follow-ups.
Mentorship From Thuan Nguyen – Learn directly from the #1 Loan Officer in the U.S., who closed 11,000 loans in 2 years.

Thuan Nguyen says:
“With the right system, even one broker can compete with big banks. Clients come back when you give them the best advice and service.”

So, how many mortgage loan officers are in the U.S.? Around 193,000 unique active MLOs remain licensed as of 2025—fewer than before, but demand for loans is climbing.

For ambitious professionals, this is the perfect time to enter or expand your mortgage career. With fewer competitors and the right technology, you can grow faster than ever before.

→ Find out more: Mortgage Loan Officer CRM: Why Top Loan Officers Are Flocking to Loan Factory’s Platform