Industry Facts

• The brokerage industry plays a significant role in the mortgage lending process and American economy by increasing competition and driving down costs. The expansive mortgage broker network allows loan wholesalers of all sizes to immediately gain a national presence without incurring the great expense of national advertising and maintenance of branch offices.
• The mortgage brokerage industry is regulated by 10 federal laws, 5 federal enforcement agencies, and over 45 state laws or licensing boards. Additionally, brokers typically have some type of Quality Control (QC) requirements and NAMB members also adhere to a strict Code of Ethics.