A Mortgage Broker Reveals the Tricks of the Trade
Sub-Prime Lending Equals Big Money
The real money to be made by loan agents is with sub-prime borrowers. These are people with collections, car repossessions and bankruptcies on their record. Because of their poor credit ratings, they can't qualify for prime interest rates. If the sub-prime borrower does get a loan, his or her interest rate will be above the prime rate.
"A lot of inexperienced loan brokers rushed in to