• In Pennsylvania, a residential mortgage broker is regulated by The Pennsylvania Department of Banking.
• Mortgage brokers negotiate, originate, and process residential real estate loans on behalf of the consumer.
• A mortgage broker must go through a thorough background check by the Department of Banking before they are issued a license.
• The mortgage broker of record is required to take 6 credit hours of continuing education credits each year to maintain their license.
• Members of the Pennsylvania Association of Mortgage Brokers (PAMB), and the National Association of Mortgage Brokers (NAMB), must adhere to a stricter code of ethics.

“Mortgage brokers represented 65% of the home loans originated in 2002. It is not surprising that mortgage brokers originate more mortgages than any other single loan source group in this nation.“
      - Wholesale Access, "Mortgage Brokers 2002" - a study of industry demographics, use of technology, products, wholesale business partners and finances, July 2003.

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