|A consumer market research firm has released a list of 10 leading mortgage brokers in America. The report indicated that the number of U.S. mortgage brokers has declined by more than half during the past two years.
The report was released by Goldline Research and is due to be published in the April 13th issue of Forbes Magazine.
The Novato, Calif.-based research firm said that the state-licensed mortgage brokers it analyzed originated at least $50 million during at least seven years in business. They offer a "broad range of services" and sell to at least five wholesale lenders. In addition, no lawsuits or grievances were outstanding against any of the companies.
Goldline based its findings on a February evaluation of U.S. mortgage brokers with "excellent client references."
The report indicated that the number of mortgage brokers has dropped off sharply, falling from 55,000 in 2007 to just 20,000 in the latest report, according to an announcement from San Francisco-based Smith Craine Real Estate Financing -- which is the only firm to make the list each of the past four years.
|Smith Craine, which provides commercial and residential mortgage services, said co-founder and Chief Executive Officer Edward Craine serves as Vice President of Finance for the California Association of Mortgage Brokers,
Craine was named CAMB broker of the year in August 2008.
Another California broker, Tammy Engel, also made the ranking. Engel operates out of Tehachapi and has been originating since 1990. Her offerings include reverse mortgages.
Two Texas companies to make the cut included Austin First Mortgage in Austin and Dallas-based HMS Mortgage Inc.
In Arizona, Reverse Mortgages USA Prime Source Mortgages was listed among the leading brokers. The Scottsdale-based company has been in business since 1983.
Ellen Davis of The Mortgage Link Inc. in Gaithersburg, Md., was among those recognized, as was Division Mortgage Group in Billings, Mont.
In addition, Goldline identified Evergreen State Mortgage in Newcastle, Wash.; 1st Metropolitan Mortgage - New Mexico in Santa Fe; and First Centennial Mortgage in Aurora, Ill.