The survival rate for mortgage brokerage firms last year was much
Mortgage Broker Study 1994: Facing Threats and Adapting to Change found
The number of firms declined only 10%, to 16,524.
"The surprising thing is that these guys are still around," said David
Meanwhile, a third of the lenders that buy loans from mortgage brokers
The brokerage firms that survived did so by drastically cutting staff.
"Low cost is the key," Mr. Olson said. "It is a secret way to make money
He said brokerage companies were able to stay afloat by outsourcing much
Wholesale Access drew its conclusions - most of which were not made
The study also found that mortgage brokers are the primary originators
"These guys, they smell out opportunity," Mr. Olson said.
Two niches that mortgage brokers sniffed out: adjustable-rate and
The study found that 40% of brokers' mortgage originations had
"Brokers appear to be doing precisely what they must to ensure their