Anyone here work as a mortgage banker or broker? Thoughts?

I don't think you're likely likely to set your career back -- especially at this early stage. If you decide two years from now that it's not for you, you may not get that much "credit" for those years if you go back on the law firm market, but I certainly don't think it would be a negative. At worst it's neutral, and in many circumstances it would be very helpful to have some real business experience under your belt. (It also may give you a leg up in developing an industry "niche" should you decide to return to the active practice of law.)

The one thing I would be careful about is to be very clear, both with your prospective employer and with whomever you deal with on its behalf, about what your role is. The mortgage lending industry is one with a lot of legal and regulatory issues, and -- to be blunt -- a good deal of fraud and nod-and-wink dealing. If you're going to be in sales/production, great. But in that case, it should be clear that you're a sales guy and not a law guy. If you're in in-house legal or compliance, also fine. But I think it just needs to be clear which it is. If it's left ambiguous or your status as a lawyer is somehow invoked to lend credibility to various transactions or representations, I think you expose yourself to a lot of uncertainty and assumptions -- by your employer, by counter-parties, by and by regulators -- about the scope of your duties (both in terms of employment and in terms of professional negligence), and about what express or implied representations flow from your involvement in a transaction.

Oh, and f**** you on the "older" comment.

I work one of the larger retail mortgage lenders. I've been there for 9 yrs now...started as a banker, then moved up to managing my own team after about 4 yrs. The industry is changing...and its for the better. Pretty much every state requires bankers to pass a licensing exam now (when i was a banker, there were only 2-3 states that required it). And there is a nat'l exam that you have to pass as well. Exams aren't tough but it will at least raise the calibre vs a few yrs ago, when pretty much anyone with a pulse could become a mortgage banker. Even if it doenst work out and you move on, i think the sales experience you will gain will be valuable and will help in any setting. BTW, my degree was a BS in chemical engineering. Currently I'm working on my MBA at UofM Ross' evening MBA program, which allows me to still work FT. When I graduate, I will probably look at switching careers and try to land an associate position at an investment bank...and I think my mortgage career is definitely helping further my own career. Anyhow, if you have any specific questions about the industry, what the job is like, etc..feel free to ask me anything.