Mortgage broking over the past year has been a mixed business for many of those who make a living working in the sector.

New research has now identified four distinct types of brokers with different hopes, needs and wants.

The CoreData Mortgage Broker Study 2009 reveals two primary types of mortgage broker – Happy Whales and Acutely Aware Tigers.

Combined these two segments account for 65.7% of the market.

Two other unique groups of brokers are the Restless & Unhappy and the Established Generalists.

In a week in which the primary association for mortgage brokers announced a significant slicing from its member base due to some brokers not holding certain qualifications and at a time when NAB has just undertaken a significant acquisition, it is interesting to note the distinct differences that exist between brokers in terms of how they view the world and how they run their businesses?

On the one hand some brokers are content to derive almost all of their income from residential mortgages, while others are keen to exploit other avenues to move into.

Some brokers have already diversified but a number are struggling to turn this into increased business activity, while others have the increased activity but struggle with profitability.

The support needs from aggregators and mortgage groups varies sharply between the various groups as does the types of relationships they are looking for from service providers to the industry.

All in all, it is clear that the notion of mortgage brokers as a single and homogenous group does not exist and those groups seeking to retain, employ, appeal to or service need to be critically aware of the differences between individuals, firms and broader networks.