NAICS 522310 Quarterly Industry Report
Mortgage and Nonmortgage Loan Brokers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 522310Sector: Finance and Insurance (52)Updated: Q1 2026
About This Report
This Fair Market Value report for NAICS 522310 provides analysis of the Mortgage and Nonmortgage Loan Brokers industry, including market structure, employment trends, regulatory requirements, and business dynamics. Analysis incorporates data from the U.S. Additional data is drawn from [Bureau of Labor Statistics[6].. Census Bureau](https://data.census.gov/) and Small Business Administration.
Industry Snapshot
Key metrics for the mortgage and nonmortgage loan brokers industry.
Industry Definition & Overview
Mortgage and Nonmortgage Loan Brokers (NAICS 522310) encompasses establishments primarily engaged in arranging loans by bringing borrowers and lenders together on a commission or fee basis. These businesses operate across residential mortgages, auto loans, personal loans, commercial loans, and other credit products without directly lending funds themselves. The industry generated roughly $13.4 billion in annual revenue across 9,600 firms employing over 82,000 workers, with the top 50 companies controlling about 54% of industry revenue.
Loan brokerage is experiencing change driven by technological advancement and shifting consumer preferences. Digital platforms, eClosing capabilities, and artificial intelligence are reshaping loan processing workflows. Specialty loan products including non-qualified mortgages, reverse mortgages, renovation loans, and construction-to-permanent loans are expanding at a 4.75% compound annual growth rate, outpacing traditional products. Millennials now represent the largest homebuyer demographic, driving demand for alternative documentation and down-payment assistance programs.
Regulatory pressures and competitive consolidation are reshaping the competitive environment. Increased scrutiny from the Consumer Financial Protection Bureau[5] and state regulators has elevated compliance costs, disadvantaging smaller independent brokers and accelerating industry consolidation. Online lenders and direct-to-consumer platforms represent the primary competitive threat, requiring traditional brokers to adopt digital capabilities and specialized service offerings to maintain market position. Independent brokers account for a growing share of mortgage originations, reaching 23% of total market volume in recent years.
What's Included in This Industry
- Mortgage loan brokerage matching homebuyers with residential lenders
- Commercial loan brokerage arranging business credit and financing
- Personal loan brokerage connecting borrowers with unsecured lending sources
- Auto loan brokerage arranging vehicle purchase financing
- Construction loan brokerage for real estate development projects
- SBA loan brokerage advising on government-backed lending programs
- Specialty mortgage brokerage including non-qualified and reverse mortgages
- Loan structuring and negotiation services between borrowers and lenders
- Commission-based brokerage operations for loan placements
- Loan pipeline management and documentation coordination through closing
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Finance and Insurance | 52 |
| Subsector | Credit Intermediation and Related Activities | 522 |
| Industry Group | Activities Related to Credit Intermediation | 5223 |
| NAICS Industry | Mortgage and Nonmortgage Loan Brokers | 52231 |
| National Industry | Mortgage and Nonmortgage Loan Brokers | 522310 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 522291 | Consumer Lending | Consumer Lending provides unsecured cash loans directly, while loan brokers arrange credit transactions between borrowers and lenders for fees. |
| 522292 | Real Estate Credit | Real Estate Credit lenders provide mortgage capital directly, contrasting with brokers who arrange real estate credit transactions on commission. |
| 522299 | International, Secondary Market, and All Other Nondepository Credit Intermediation | All Other Nondepository Credit Intermediation includes secondary market intermediaries and trade financing operations related to credit markets. |
| 522390 | Other Activities Related to Credit Intermediation | Other Activities Related to Credit Intermediation includes loan servicing and credit support activities excluding brokerage operations. |
| 522110 | Commercial Banking | Commercial Banking includes depository institutions that both originate and hold loans, unlike brokers who arrange transactions between parties. |
| 524210 | Insurance Agencies and Brokerages | Insurance Agencies and Brokerages operate on a similar commission-based model arranging insurance products between carriers and customers. |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 27.6% | 3,028 |
| 2 | Florida | 10.4% | 1,144 |
| 3 | Texas | 5.7% | 626 |
| 4 | Colorado | 4.8% | 524 |
| 5 | Arizona | 4.3% | 470 |
| 6 | New York | 3.7% | 401 |
| 7 | Michigan | 3.0% | 334 |
| 8 | Illinois | 2.9% | 322 |
| 9 | Georgia | 2.8% | 307 |
| 10 | Utah | 2.6% | 289 |
% Of Establishments
0%
28%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
312
Total SBA Loans
$121.2M
Total Loan Volume
$388K
Average Loan Size
12 yrs
Average Loan Term
10.56%
Average Interest Rate
5,272
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per SBA size standards[7], the threshold for NAICS 522310 is $15 million in average annual receipts. Businesses at or below this level qualify as small businesses for SBA loan programs, federal contracting opportunities, and other government-supported initiatives. Eligible businesses can access SBA 7(a) loans[8] for working capital, equipment, and acquisition financing, while 504 loans[9] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 64 | $34.2M | $535K |
| 2 | Seacoast National Bank | 8 | $17.3M | $2.2M |
| 3 | Wells Fargo Bank National Association | 8 | $10.8M | $1.4M |
| 4 | Cadence Bank | 16 | $7.6M | $474K |
| 5 | Enterprise Bank & Trust | 8 | $7.0M | $871K |
Frequently Asked Questions
Common questions about this industry.
What is the difference between a mortgage broker and a loan originator?
Mortgage brokers arrange loans between borrowers and multiple lenders on a commission basis without directly lending funds, while loan originators are employed by specific financial institutions and originate loans from that single institution. Per CFPB[5] regulations, both require state licensing and NMLS registration.
What are the typical licensing requirements for mortgage brokers?
Mortgage broker licensing requirements vary by state but generally include 1-3 years of relevant finance experience, 20-30 hours of pre-licensing education through NMLS-approved programs, surety bonds ranging from $25,000 to $500,000, and background checks. Annual license renewal occurs with minimum 8 hours of continuing education.
How do mortgage brokers generate revenue?
Mortgage brokers are compensated through commissions and fees paid by lenders or borrowers upon successful loan closing. Per Federal Reserve[10] regulations, they must disclose all fees upfront to clients before proceeding. Brokers earn revenue by connecting qualified borrowers with appropriate lenders.
What services do nonmortgage loan brokers provide?
Nonmortgage loan brokers arrange personal loans, auto loans, commercial loans, and other non-real-estate credit products by connecting borrowers with lenders on commission or fee basis. Per Census Bureau[11] classifications, they assess borrower needs, compare loan options from multiple sources, and structure agreements between parties.
What regulatory bodies oversee mortgage broker operations?
Mortgage brokers are regulated by state licensing agencies, the Consumer Financial Protection Bureau[5] (CFPB), and the Nationwide Multistate Licensing System (NMLS). The CFPB establishes federal standards for loan origination and servicing, while state regulators enforce specific local requirements.
How is the mortgage broker industry expected to grow?
The mortgage and nonmortgage loan brokerage market is projected to grow from $7.62 billion in 2025 to $9.88 billion by 2031, representing 4.42% compound annual growth rate. Employment is expected to remain relatively flat over the next decade due to natural attrition and increased automation in loan processing workflows.
What technology trends are affecting the loan broker industry?
Digital transformation is reshaping loan brokerage through eClosing platforms, artificial intelligence, and automated loan processing systems. Per Bureau of Labor Statistics[12] projections, demand for specialized skills in data analytics, compliance, and digital lending platforms continues to increase across the sector.
Which demographic segments are driving growth in mortgage brokerage?
Millennials are now the largest homebuyer demographic with a median age of 38, driving demand for specialized guidance on down-payment assistance programs, alternative income documentation, and flexible loan products. First-time homebuyers and self-employed professionals also represent growing segments seeking broker expertise.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Consumer Financial Protection Bureau consumerfinance.gov
- [6]U.S. Additional data is drawn from [Bureau of Labor Statistics bls.gov
- [7]SBA size standards sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loans sba.gov
- [10]Federal Reserve federalreserve.gov
- [11]Census Bureau census.gov
- [12]Bureau of Labor Statistics bls.gov
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