Mortgage broker

[chitown]

Yes, that sounds about right. I spent two years working on the IT side of a mortgage company and was involved in the commission, costing etc.

As a young/new mortgage broker the split is probably only 50% at best. Also some companies or situations may charge the sales team closing fees out of the loan, office usage fees, IT fees, etc.

If the guy sells some type of niche loans such as poor credit, no income documentation, etc then the yield on the loan may be higher then the 1% standard, probably up to 3-4 (then split for commission)%.

It's not totally unrealistic for him to be pulling that much, but may be hard to sustain depending on the market that he's in. Also the amount he makes per month may not take into account expenses that are incurred -- buying leads, shipping/courier, computer equipment, kickbacks to realtors, entertaining potential clients, etc.