I used the 2008-2009 “Yellow Book” of Clark County.  I identified every entity under the heading “Mortgages.”  An entity is a business.  So, if a business had six offices, it was counted as one entity.

I called a phone number for every entity.  I counted 131 of them.  Of the 131 there were 55 still in existence.  That means that 42% no longer exist.

I found a number of name changes to another name already in the phone book.  That sounds like an acquisition or merger.  I found some had new names, but were still answering the phone.

Of course, calling numbers out of the existing phone book does not inform one of the new players in the market.  But, these statistics show the culling that has gone on in the residential mortgage market during the last year.

It’s been brutal.

Ralph K. Olsen

Pacific West Appraisal Services, Inc.

pwas.net