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You are taking about becoming a lender and the markets would want the loans all nicely packaged up BEFORE offering the funding wouldn't they. I'm not sure I can see a way to do that considering all your clients would be with different lenders etc etc etc. You would need serious volume too.

My 2cents worth...At least 2 -3 years for most mere mortals to be making a living then another 2-3 years to get a decent business going.

Well maybe a group like this but them saying OTE $250k makes me think NO. You'd be better served looking at who are the top brokers in your area and approaching them directly. Not always easy to do. My next door neighbours are brokers too, very low profile and they work 100% on referral and do...

Just go in with your eyes open and check that their "lead" numbers are real and of an ok quality. Cold leads are nothing like a referral. For example I could get 200 leads a month on my website if I had a page on "no deposit"..."no genuine savings" loans. This would equate to 0 loans and a big...

Not saying it can't work. I'm example I suppose of it working! But coming from a different background and knowing what I know now I would recommend a loan writer role with a succesful group of independent brokers first then go out on your own. There is lots of ways to skin a cat. Just wouldn't...

It would be about 0.45% I would think. But if you are not writing much you get paid less like 0.3%. The killer is the trail is based on a running average of your monthly settlements. If you write $ 4 mil or $5 mil + a month (most don't get anywhere near this) on average you would get maybe 0.09%...

Don't do that! Tobe and I were at the same intake with Mortgage Choice in 2003. Out of about 20 people Tobe and I are the only ones still in the business I believe. Most dropped out in first 18 months. Knowing what I know now I think the best option would be to start as a commission only...

what did he do with existing book / clients?