Any Mortgage Loan Officers/Brokers here?

[Beemnseven]

Cool guys, thanks for the info.

Redsk1, I know what you're talking about as far as being your own employer-running your own business. That's where the real estate field and mortgages are similar -- I assume you're considered an independent contractor? Doing your own marketing, that sort of thing -- I feel like I'm pretty prepared for that.

Redskins_P: By wholesale and retail, is that the same as the difference between working as a broker and working as the lender directly? As I understand it, the brokers go to other lending institutions -- banks, Wells Fargo, Citi -- they act as sort of a middle man, and there are generally more fees involved that are charged to the buyer on the HUD. Whereas the mortgage loan officers who work for the large lending institutions themselves are actually the direct source. Have I got that right?

It just seems like there would be more overall volume in sales with mortgages, i.e., the client that you performed for with the original loan ideally will come back to you to refinance -- almost like a "double dip" so to speak. Real estate agents only get repeat customers when they decide to move. There's also a slew of fees for realtors -- NAR dues, MLS fees, key pad fees...

That, in addition to the fact that you don't have to drive all over creation for the right mortgage the way you have to do that to find just the right house for your clients seems like a huge headache to avoid.