I used to mortgages for UC Lending back in the subprime market days. Yea, it was amazing how many pts they would charge at times on their loans for commission. The rates weren't all that bad, but they did charge as many as 10pts if a loan officer could get a person to bite on it. Granted...since the loans were much bigger risks...came the higher price (one way or another).
But, as mentioned above, it felt good knowing you could do a mortgage for someone who had no other choice for bill consolidations or whatever. That was the main reason for most of our loans. You could tell the company was spending money hand over fist. For some training, the company would fly each loan officer to Louisiana and put them up in a very nice hotel...glass elevators, water fountain inside, and threw us a party the last night in the parking lot with dj and everything.
Loved helping people, but hated the stress involved with them pushing for more and more loans. I had much more fun after I left there and starting working for a bank. Had 10 years in lending and finally had to change to another field!
I used to mortgages for UC Lending back in the subprime market days. Yea, it was amazing how many pts they would charge at times on their loans for commission. The rates weren't all that bad, but they did charge as many as 10pts if a loan officer could get a person to bite on it. Granted...since the loans were much bigger risks...came the higher price (one way or another).
But, as mentioned above, it felt good knowing you could do a mortgage for someone who had no other choice for bill consolidations or whatever. That was the main reason for most of our loans. You could tell the company was spending money hand over fist. For some training, the company would fly each loan officer to Louisiana and put them up in a very nice hotel...glass elevators, water fountain inside, and threw us a party the last night in the parking lot with dj and everything.
Loved helping people, but hated the stress involved with them pushing for more and more loans. I had much more fun after I left there and starting working for a bank. Had 10 years in lending and finally had to change to another field!
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