The reason why I had posted this originally is that I ran into an old coworker who had started in the loan business about 8-9 years ago when the market wasn’t very hot. He used to make around $50-60k/year. Then, as we all know the market started exploding and during his best years he managed to make around $30-$40k/month in commissions.
We all know what happened to the market in the last year and a half. So I ran into him the other day and of course we started talking about his business. He said that his business has slowed down significantly as a lot of the loan programs he used to offer are no longer around.
He said that he still manages to pull in 20-30k on a good month, which I think is surprisingly well compared to other mortgage broker. I was just wondering if he was over stating things.
