Non-QM, DPA, Broker Products; Correspondent and Wholesale Updates

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Posted To: Pipeline Press

There are plenty of well-paid people in the mortgage biz. It is good to keep things in perspective: The U.S. median household income was $63,179 in 2018 according to U.S. Census Bureau. Sure, it is easy to become mired down in the statistics, but at this point half the population made more and half made less, more or less. Capitalism is alive and well in mortgage banking, and lots of commission-based personnel are having a fine year. I will let the reader decide if a loan officer or account executive should earn more than a doctor or lawyer, the President ($400k), the Chief Justice of the Supreme Court ($267k), or the Speaker of the House ($223k). The minimum salary in major league baseball is $545k, the NLF is $480k. I am reminded of an interview with Babe Ruth where he was asked about how…(read more)

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