Any mortgage brokers out there?

[LuckyTaxi]

How's business doing? I'm thinking of getting into the business

 

[rudder]

I am not a mortgage broker, but I bet business is still booming with record low rates. Of course who can say 1 year from now when everyone in America has refinanced and rates have gone up.

 

[Yax]

I'm not a broker, but I'm a loan officer. Biz is good right now. Especially if interest rate continues to drop. Lots of refi's. PM me if you're interested in getting in.

 

[dirtboy]

Word of advice: Never get into any business during its boom, because as soon as there is a down turn, the least experienced are the first to go.

 

[Luke1]

It is a bad time to start.

 

[Yax]

Originally posted by: dirtboy
Word of advice: Never get into any business during its boom, because as soon as there is a down turn, the least experienced are the first to go.

LOL, talking from experience huh. Dotcom boomers, me too.

 

[LuckyTaxi]

Originally posted by: Luke1
It is a bad time to start.

how so

 

[rudder]

Originally posted by: cheapbidder01
I'm not a broker, but I'm a loan officer. Biz is good right now. Especially if interest rate continues to drop. Lots of refi's. PM me if you're interested in getting in.

What the possibility of working from a home office doing this type of work? My wife has an accounting/business degree and is a stay at home mom. I've worked with a broker that worked out of his home, but we parted ways before I could get any good info.

 

[Yax]

Originally posted by: rudder

Originally posted by: cheapbidder01
I'm not a broker, but I'm a loan officer. Biz is good right now. Especially if interest rate continues to drop. Lots of refi's. PM me if you're interested in getting in.

What the possibility of working from a home office doing this type of work? My wife has an accounting/business degree and is a stay at home mom. I've worked with a broker that worked out of his home, but we parted ways before I could get any good info.

I do my biz from home, part time. I hold a full time job during the weekdays, but on evenings and weekends I can focus on loans. Many of my clients so far are friends and relatives, since I'm only at it part time, I'm not making much, but any commission I make is a bonus for me. I do know people who do it full time and they make alot of money, but they work in the SF/San Jose area so the loans are huge thus the commissions are huge. Look at the home values, the higher the home values, the larger the loans. Larger loans equal bigger commissions from the Bank.

 

[bozack]

friend of mine just got into this and he likes it alot....seems to do well with it.

 

[dirtboy]

Originally posted by: cheapbidder01

Originally posted by: dirtboy
Word of advice: Never get into any business during its boom, because as soon as there is a down turn, the least experienced are the first to go.

LOL, talking from experience huh. Dotcom boomers, me too.

Nope. I got out of IT just before it peaked and entered another industry that was on its way down. Luckily I did quite well my first year, depite the large number of people exiting the industry. Things certainly aren't as good as they were a couple years ago, but I'm positioned quite well to ride out the slow market.