In late 2004, Wholesale Access embarked on its seventh
in a series of mortgage brokerage studies. The goals of the research
are to study the demographics, production volume, use of technology,
product menus, financial and pricing issues, software providers, wholesaler
relationships, market share, B2B relationships and life cycles of brokerage
firms. Two detailed surveys of brokerages are undertaken, enough to derive
statistically valid results and randomly drawn from the estimated universe.
The project will be completed in July 2005.
Our previous study, Mortgage Brokers 2002, determined
there were approximately 44,000 brokerages operating in that year. Collectively
they accounted for 65% of all residential mortgage production. These
findings were derived from 4,024 telephone interviews of mortgage brokerages.
For an outline of the latest study, click
Monthly Trends in Mortgage Broker Activity
The National Association of Mortgage Brokers (NAMB) and
Wholesale Access have joined together in an
attempt to fill a gap in the mortgage origination data collected for
the industry. No one is measuring the
products brokerages are originating. Wholesale Access and NAMB propose
to correct this shortcoming
by publishing a monthly roster of the products brokers are originating.
Access has designed an Internet-based survey that contains eighteen questions
and takes a few
minutes for brokers, i.e. owners of brokerages, to complete. The goal
is to quickly ascertain changes in
the market by measuring volume, loan mix (conforming, jumbo, A-, subprime
and government) along
with information on high-LTV, Alt-A and other so-called “non-traditional” loan
the project will do the following:
- Track changes in the monthly
mix of originations of major types of mortgages, especially nontraditional
- Track lenders buying new
types of mortgages, such as IO, Payment Option Arms, Alt-A, high LTV.
- Develop an index measuring
the monthly changes in origination activity by the brokerage community.
- Prepare a summary of the
results that will be posted to NAMB’s
website and emailed to survey participants.
- Generate positive publicity for NAMB and Sponsors,
an information void.
- Surveys will be conducted electronically on Wholesale
- NAMB’s Delegate Council will recruit brokers
in the survey.
- Sponsors will get 12 monthly
reports of survey results plus additional analysis and access to the
raw data (except for broker names).
We anticipate a panel of 500 to 1,000 brokers will complete
the online survey each month. Approximately 300 completed surveys per
month will be needed to achieve statistical significance and provide
smooth data trends. Sponsors receive the monthly reports and analysis
and will be publicly thanked at the NAMB Convention in June 2007.
For details about the cost of sponsoring and owning this
valuable database, contact
Tom LaMalfa: (216) 752-6610 • email@example.com
David Olson: (410) 772-1161• firstname.lastname@example.org