Expert Predicts Astounding 72% Decline In Mortgage Brokerage Firms Nationwide

David Olson of Wholesale Access made an alarming prediction that by year-end 2009, there will be only 15,000 mortgage brokerage firms nationwide in existence. Furthermore, if this prediction comes to fruition, it would translate to a stunning 72% decline from the sector's 2005 peak.

Bottom line: Ethical and professional mortgage brokers must unite and professionalize their ranks. 

That is exactly what one of my good friends Mark Green at Top of Mind is doing. While Mark is not a mortgage broker, he is fighting for mortgage brokers. 

In fact, he is actively involved with NAMB and is hosting a live State of the Union interview with  Jim Pair (NAMB President) this Thursday October 1st at 12pm EST, 9am PST.

The mortgage industry and brokerage sector are facing huge challenges and NAMB President Jim Pair wants to hear from YOU – so YOU can be heard on Capitol Hill. 

To participate in this Emergency “State of the Union” Interview with NAMB President Jim Pair, please click on this hyperlink to register and take action.

Emergency “State of the Union” Interview 

with 

NAMB President Jim Pair

Thursday October 1st at 12pm EST, 9am PST.

Comments

[Atlanta Real Estate]

Interesting article and just like Real Estate Professionals (me) the weeding out of the industry is long over due!

Rob in Atlanta

[Brian Brady]

I wonder if 65% of that 72% isn't already gone.

[Mark Madsen]

I was speaking with a friend the other day that has been a broker in NV for the past 25 years or so.

He said that we are currently under 240 licensed broker shops, down from 4800 in 2006.

Plus, the state gave Nevada brokers a three week last minute notice to get a $50k bond by Oct 1, or they would be out of business. So, our predictions are that there are probably less than 100 remaining broker shops left in Nevada.

[Mortgage Leads]

It only means that broker like me should concentrate looking for a quality mortgage leads