Industry Facts   In 2004, the SC Department of Consumer Affairs reported that there were 535 licensed mortgage brokers in the state. In 2004 there were 53,000 mortgage broker companies that employed an estimated 418,700 employees and originated more than 50% of all residentail loans in the U.S.* Home prices have risen steadily at an average annual rate of 4.3% for the past 10 years.   According to the U.S. Census Bureau, the rate of homeownership in the United States has grown to 68%.   The brokerage industry plays a significant role in the mortgage lending process and American economy by increasing competition and driving down costs. The expansive mortgage broker network allows loan wholesalers of all sizes to immediately gain a national presence without incurring the great expense of national advertising and maintenance of branch offices.   The mortgage brokerage industry is regulated by 10 federal laws, 5 federal enforcement agencies, and over 45 state laws or licensing boards. Additionally, brokers typically have some type of Quality Control (QC) requirements and NAMB members also adhere to a strict Code of Ethics.   *According to a 2004 Wholesale Access Mortgage Research and Consulting study