Is it a bad time to become a mortgage broker?

A friend who ownes his own business is willing to pay me 50% of all the fees and commissions I earn on any given loand. i.e. loan makes $8,000 I get $4,000. Is this a good business to be in now? WIll it be good for many years to come? Is this a high pay out? Sound like a good opportunity?Is it a bad time to become a mortgage broker?
Mortgage rates have been climbing lately and many have already re-financed in the past 5 years, so...it is not the BEST time.





However, home sales seem to happen regardless of economic conditions.





Be sure to check with your state's agency regarding this kind of work...it is likely to be regulated heavily.Is it a bad time to become a mortgage broker?
sounds abnormally high to me and may even be illegal . It is obviously a secondary or less than prime lender like a credit union or a bank . The mortgage business is always a good business but just be sure your friends business is on the up and up and if it is go for it .
It depends on where you live, I'm a loan processor, and business did get a little slow in the last month or two, but it's picking up again, my friend owns this company, and they are making a lot of money. It also depends what company you work for, because some have a bad reputation, so they don't have a lot of business. This company pays their loan officers 50% to start, and after a while it goes to 70%. It's a really good business, if you know how to treat the clients.
I would say yes but dont let that stop you though.
Well, I think the wave of the housing boom is nearing an end. if it is not your only job, then maybe it would be nice to get some extra income. I was talking to my friend a realtor the other day. The news says the market is down 15 percent, he said it has been more like 25 %.





Maybe the opportunity is nice but the timing isn't. Good luck to you though.