Many nonbank mortgage lenders are likely to be hamstrung after Saturday, the deadline for their loan officers to obtain state licenses under new minimum national standards.

Firms around the country are scrambling to turn in license applications. A handful of state regulators have tried to accommodate the industry by extending the deadline in their jurisdictions. Close to 35% of originators failed the national written test and nearly a quarter flunked the relevant state tests in the 12 months that ended June 30.

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