Twenty years ago, you could not find a conventional mortgage broker in the state of Oregon.  If you needed a conventional, FHA or VA loan on your home, you had to get it from your local bank or Savings and Loan.  Your options were usually limited to a thirty year fixed rate mortgage and if you did not meet the bank’s requirements, you had nowhere else to go. How things have changed.  According to the State of Oregon’s website at www.licenseinfo.oregon.gov, Oregon now has 1680 licensed mortgage firms with 3330 locations.  The vast majority of these firms are mortgage brokers, and it seems like they are everywhere, with radio and TV commercials,  websites, newspaper ads, mass mailings, telemarketing, etc.  So how did we go from getting a mortgage loan from a few dozen banks and credit unions, to needing all of these brokers?

I have been a mortgage broker in Oregon since 1983 so I have seen the business evolve from virtually nothing to what it is today.  My personal background can be found online, at  www.OregonsBestMortgage.com.  I created one of Oregon’s first mortgage broker firms and know first hand the impact of mortgage brokers on mortgage lending.  In coming blogs, I will share this insight into the exceptional options and value that a good mortgage broker brings to his client.  In the meantime, a great source of information on mortgage loans can be found at www.OregonsBestMortgage.com.  It is worth your time to check it out.