Prelim Broker Study Results Released

Wholesale Access Mortgage Research & Consulting, Shaker Heights, Ohio, has released preliminary results of its Mortgage Brokers 2004 Study.The study found that all brokers accounted for 68% ($1.8 trillion) of last year's total origination activity, and that the mean brokerage firm produced $32 million, with an average of 8.7 employees. The study also found that conforming loans accounted for 46% of brokers' volume; that the most-used wholesalers are Countrywide, for conforming loans, and National City, for subprime loans; and that brokers in general are heavy users of technology, which has allowed them to reduce their firm size and still keep their volume up. The completed study will be available in late July. Wholesale Access can be found on the Web at http:/www.wholesaleaccess.com.