One of our Mentors sent this to me yesterday: http://data.nationalmortgagenews.com/columns/hearing/ - "As I recall -- and I'm going by memory -- the broker movement started in the wake of the S&L crisis 20 years ago. When hundreds of thrifts went bust, laid-off loan officers became "freelancers" for Anaheim Savings, Guardian Savings, Countrywide and others. If you have any recollections about the evolution of brokers drop me an e-mail at Paul.Muolo@SourceMedia.com "

As it so happens, I saw that Friday and had already replied to him (I've known Paul for many years BTW).

I believe the mortgage broker beginning started quite some time ago, here in Southern California I for one remember they were around when I first started in this industry 41 years ago for The Mother Company (in fact, on our wholesale side, we did a lot of business with them in those early years). Come to think of it, when I left and went out on my own in 1979, at first I was a mortgage broker and brokered mortgage loans back to my former employer! I also think they began as a real presence, at different points in time in other States, so maybe in your State they were in deed a result of the later S&L crisis as Paul suggests.

If you have anything to add, why not post it HERE since I'm told Paul is a reader of our BLOG!