Banks, credit unions and mortgage companies: checking a lender on NMLS

How the three kinds of mortgage lender differ, who regulates them, and how to look up a lender and its loan officer on NMLS Consumer Access.

Mortgages are made by three broad kinds of lender: banks and savings institutions, credit unions, and non-bank mortgage companies. Each is regulated differently, and each can be a good choice. This site sorts lenders into those three groups using the federal agency each one files its HMDA data with. Before you apply anywhere, you can confirm that the lender and the individual loan officer are licensed or registered, free, on NMLS Consumer Access.

Banks and savings institutions

Banks lend their depositors' money and may keep some mortgages on their own books instead of selling them. Depending on its charter, a bank's federal supervisor is the Office of the Comptroller of the Currency (national banks), the Federal Reserve or the FDIC, and the largest banks are also supervised by the Consumer Financial Protection Bureau for consumer protection. Banks that hold loans in portfolio can sometimes be flexible on unusual properties or self-employed income. Existing customers may be offered relationship discounts.

Credit unions

Credit unions are member-owned cooperatives, supervised by the National Credit Union Administration and state regulators. You generally have to be eligible for membership, through where you live or work, an employer, an association or a family member, though many credit unions have broad fields of membership. Credit unions often lend mostly within their local area, which shows up in the "largest states" figures on their profiles.

Non-bank mortgage companies

Non-bank lenders do not take deposits; they fund loans and usually sell them to investors or into government-backed securities. They now make a large share of U.S. mortgages, including many FHA and VA loans. They are licensed by each state they lend in, and file their HMDA data under the Department of Housing and Urban Development's agency code. Some operate nationwide online; others are local. Their profiles here show the states where they reported activity.

Mortgage brokers are different

A mortgage broker does not lend its own money; it takes your application and places it with a wholesale lender, and is paid by you or by the lender. Brokers must also be licensed. This site lists lenders that reported HMDA data, not brokers. When a broker is involved, the lender that funds the loan is named on your Loan Estimate.

Licensed or registered: the SAFE Act

Under the federal Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), every individual who takes mortgage applications and offers or negotiates loan terms must be either:

• Registered, if they work for a bank, savings institution or credit union regulated by a federal agency (and certain subsidiaries). Registration records them in the Nationwide Multistate Licensing System and Registry (NMLS) with a unique ID.
• State-licensed, if they work for a non-bank mortgage company or broker. Licensing generally requires pre-licensing education, a national test, a background and credit check, and annual continuing education, and the license is state by state.

Lending companies have NMLS IDs too. Federal rules require the company's name and NMLS ID, and the name and NMLS ID of your loan officer, on your credit application, your Loan Estimate and Closing Disclosure, the note and the security instrument (12 CFR 1026.36(g)).

How to check on NMLS Consumer Access

1. Go to NMLS Consumer Access and search by company name, NMLS ID or the loan officer's name.
2. For a non-bank company, check that it holds an active license in the state where the property is. A license in another state is not enough.
3. For a loan officer at a non-bank, check for an active state license in your state and the company it is sponsored by. For a bank or credit union loan officer, check that the registration is active and lists that institution.
4. Look at the regulatory actions section. It lists public enforcement actions by state and federal regulators, with dates. Read the details rather than reacting to the heading; some actions are old or minor.

Other places to check

• Banks: the FDIC's BankFind tool confirms a bank is insured and shows its charter and history.
• Credit unions: the NCUA's credit union locator confirms federal insurance and field of membership details.
• Complaints: the CFPB's public complaint database lists complaints by company, with the company's response. Volume tends to rise with lender size, so compare relative to how many loans a lender makes.

Questions to ask any lender

• Which loan programs do you offer for my situation, and which do you recommend and why?
• Will you keep my loan or sell it, and who will service it after closing?
• How long are you currently taking from application to closing, and how long can I lock my rate?
• What are your lender fees, and can I see a Loan Estimate today?

The HMDA figures on each profile can help you ask sharper questions. A lender whose records are mostly in another state may rely on appraisers and title companies it rarely uses in your area; a lender that made few loans of your type may still be able to do it, but ask how many it closes in a typical month.

Which kind should you choose?

There is no single answer. Get Loan Estimates from at least one of each kind if you can: a bank where you already have accounts, a local credit union you are eligible to join, and a non-bank lender that is active in your state. Compare the rate, points and fees on the same day. The HMDA figures on this site can help you find lenders that actually make the type of loan you need in your state, but the Loan Estimate is what tells you the price.

Updated 2026-10-16.

General information only, current as of the date above. The information on Mortgage Lender Data is not financial or legal advice and is not an offer of credit. We are not a lender, mortgage broker or loan originator; we take no applications, pass on no borrower information and recommend no lender. Lending figures come from each lender's HMDA filing for the year shown and describe past lending, not the rate, terms or decision you will get. Compare Loan Estimates from several lenders before you choose. Rules and programs change; check the official sources linked in this guide.