According to a 2004 study by Wholesale Access Mortgage Research & Consulting, Inc., there are approximately 53,000 mortgage brokerage companies that employ an estimated 418,700 employees and originate more than 50% of all residential loans in the U.S. The mortgage broker industry is regulated by 10 federal laws, five federal enforcement agencies and over 49 state laws or licensing boards.

Mortgage brokers are real estate financing professionals acting as the intermediary between consumers and lenders during mortgage transactions. A mortgage broker works with consumers to help them through the complex mortgage origination process.