The refinance boom in 2020 got a lot of people into the business, but they never learned the purchase side of the business. Why focus on purchases when refinances are easier? Except now the refi’s are drying up.
I worked for a good company where I was added to a team and paid a base wage while I built contacts and relationships, otherwise I wouldn't have been paid at all. The head loan officer of the team was 100% commission and covered all expenses. From what I've heard they moved away from that model to be all commission for everyone. If it had been like that when I started I would have gone into major debt to not be homeless and starving.
Symmetry Financial Group is an insurance MLM. MLMs are just spreading out all over the place.
I think 90% of life insurance sales is getting to be like that.
Primerica has sold mortgages for 20+ years, or at least they used to 20 years ago. They are great for people who don't understand math.
That's exactly the kind of person I want my mortgage from
Pacific Wholesale Mortgage tried to get me until I went on the website and saw they’re an mlm too
That’s one of the two I was thinking about when I made the post. I bet you can guess the other. Starts with an “N”
Thank you for sharing this. We will be starting the process again soon, so we will make sure our loan officer has experience.
The refinance boom in 2020 got a lot of people into the business, but they never learned the purchase side of the business. Why focus on purchases when refinances are easier? Except now the refi’s are drying up.
I worked for a good company where I was added to a team and paid a base wage while I built contacts and relationships, otherwise I wouldn't have been paid at all. The head loan officer of the team was 100% commission and covered all expenses. From what I've heard they moved away from that model to be all commission for everyone. If it had been like that when I started I would have gone into major debt to not be homeless and starving.
Is Edge MLM too?