Mortgage/refinance business

3 replies [Last post]
bluestar's picture
Offline
Joined: 2004-12-14

I'm shopping for mortgage, and talked to this mortgage broker today who practically was begging me to stop shoopping and give him business. Which makes me wonder about the compensation of mortgage brokers...
Do mortgage brokers make a killing with each loan, like insurance agents do with annuities? How much commission is generated by a, say, $600K loan??

executivejock's picture
Offline
Joined: 2005-06-29

I can get you a deal so come and see me.. :)From what I know its big bucks... I mean there is a lot of commission.. Of course its based on different things but, I would suspect one could make at least 20k on 600k mortgage.. Maybe this is to much, but for sure over 10k..

executivejock's picture
Offline
Joined: 2005-06-29

Are the adjustable mortgages higher paying for the broker?
I know our commissions, but what is the general amount for 100k loans.. 2.5%??

frumhere's picture
Offline
Joined: 2005-02-22

I think it is 50 bps

Please or Register to post comments.

Industry Newsletters
Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×