NEW YORK -- Matt Broderick has seen the future for home buyers, sellers, mortgage lenders and real-estate brokers. And he is planning to bring it to you -- market by market, coast to coast -- as fast as he can sign up his fellow real estate agents.

Broderick is senior vice president of the giant Schlott Realtors residential real-estate brokerage company in Wayne, N.J. The company had $7.6 billion in sales last year and ranked as the nation's top-grossing independent realty firm, according to the industry newsletter Realtrends.

More important, he is at the cutting edge of one of the most radical and controversial changes that home buyers are likely to witness in the 1990s: The rapid move of the biggest and most aggressive real estate agencies into a role once filled solely by mortgage lenders -- new loan origination, for a fee to both consumers and participating lenders.

Broderick and Richard L. Schlott, president of the firm, are the creators of Homenet, a computerized loan-origination system. Barely three months in operation, it is already churning out loans at a $1 billion annual rate. Though intended primarily to service Schlott home buyers, 15 percent of the loan volume is coming in over the transom from smaller, local real-estate brokerage firms in the New York-New Jersey market, Broderick said.

The Homenet computer technology and programming are being packaged for licensing to other large-scale brokers in major markets, with the first "export" start-ups expected later this year. Here's what the system is all about, and why consumers are likely to see it spread fast this year and next.

You may have read or heard about the continuing debate between mortgage bankers and Realtors over lending practices. Mortgage bankers at the state and national levels have argued against any entry of real estate agents into their traditional financing domain. Mortgage bankers and other lenders want to retain the status quo: They handle the mortgage application, commitment and funding from start to settlement. Any involvement of real estate agents in the mortgage-financing process should be gratis, say the mortgage bankers, because the agents already are getting a sales commission on the transaction.

The National Association of Realtors has argued the opposite to Congress and state regulators. Whenever a real-estate broker performs loan-qualification and application services for a home buyer, according to the association, the consumer should be allowed to compensate the broker for the work.

The Homenet concept carries the Realtor position to its technological frontier. In each Schlott office hooked into the network, the firm has a licensed mortgage originator -- a "financial services representative." When a home buyer comes in with either a Schlott or cooperating broker, the originator performs all the basic application functions of a traditional lending officer -- employment and credit data, income-to-loan ratios and the like.

The in-house originator then goes to the computer. The core of the Homenet concept is the "level playing field" idea, Broderick said. Fifty lending institutions -- national mortgage bankers like Travelers Mortgage and U.S. Mortgage -- have their full menu of loan products on line, updated at least daily. Beyond the predictable rate, term and discount point quotations, however, Homenet contains each lender's detailed underwriting criteria.

Certain lenders may have identical rates and terms, for instance, but very different underwriting standards regarding the credit risk they will handle or the amount of documentation they require. Unlike earlier efforts at computerized loan-origination systems, according to Broderick, Homenet includes all of this.

"Say our home buyer is a nonresident alien without a green card {work permit}, and wants a bridge loan with a co-borrower," Broderick said. "The system identifies the specific underwriting standards that would allow that, and narrows the choice of lenders to three or four out of the 50."

The level playing field results from the same computer technology. The participating lenders all pay a fee for being listed -- $200 to $400 per loan originated. The computer is programmed to pair borrowers only with the best-priced loans that fit their detailed credit characteristics and needs. The choice ultimately is the consumer's, but the loan analysis goes far beyond what even the most energetic mortgage-shopper could do by phone.

Schlott's originator is paid 0.5 percent of the loan amount at settlement for this service. The lender cuts the same amount from its rate quote, thereby allowing the consumer to use the Homenet system at no net additional cost. The participating lenders are willing to forgo the half point, according to Broderick, because they normally have to pay their own staff originators at least that amount.

Those staff originators appear to be the chief losers in the deal: Homenet lenders are reducing their staffs, given the high volume coming their way electronically.