patrick.net

DS,

Oh come on! You made a broadly misleading and unqualified statement about mortgage broker's take. Just admit for once that someone (FAB, who has hands on experience in getting American mortgages) corrected you, rather than let your original statement stand.

I'm just a bit sick of you referring to you mortgage brokering "mate" all the time. You already have a girlfriend, you've evidently never travelled to America (where she could give you a free tour on her dime) and you're constantly decrying this "mate" of yours as ignorant and corrupt.

So what's attraction?

sorry?

she's sub-prime, but she's told me she can legally take up to 7%. i've not questioned it, because i assume she knows what she's talking about...

she's attracted to me, mostly...

what's your problem?

i think i detect some angst about the lost opportinuty of becoming a sub-prime mortgage broker here... as i said, if you can't beat 'em, join 'em... america, the land of opportunity...

a friend of hers is a 28 year old laywer in DC who makes 500K PA with bonuses and has a house and yacht -- why don't you query that one as well...

"what’s your problem?"

Huh, that you infer waaaaay too much about Americans from way too small of a sample set, and without bothering to qualify your statements given the problematic nature of that sample set.

My problem was that you made yet another misleading (arguably erroneous) generalization about Americans, was corrected by someone who knew better, and then you refused to acknowledge the problems in the at best problematically worded original statement.

It's also that you're bragging about leading on an ignorant woman for whom you've shown considerable disdain in your comments here. I just find that pretty distasteful, especially after your 10th or 20th reiteration of those facts.

Huh, that you infer waaaaay too much about Americans from way too small of a sample set, and without bothering to qualify your statements given the problematic nature of that sample set.

Huh?

My problem was that you made yet another misleading (arguably erroneous) generalization about Americans, was corrected by someone who knew better, and then you refused to acknowledge the problems in the at best problematically worded original statement.

you are disputing that sub-prime mortgage brokers can make $250K? you should go and sort out my friends tax returns then, she must be paying way too much tax....

why don't you arguably argue with someone else about nothing...

i fully accept that 'prime' brokers might only make 1%, but they might be better off in sub-prime at that rate...

It’s also that you’re bragging about leading on an ignorant woman for whom you’ve shown considerable disdain in your comments here. I just find that pretty distasteful, especially after your 10th or 20th reiteration of those facts.

you said, how does someone make 250K, and i pointed out it's quite possible in the mortgage business, and in finance generally, without too much 'formal' education or a college degree. you've used a lot of inflammatory words there that i haven't said, such as disdain, etc. why don't you apply your highly refined extrapolating and inferring abilities somewhere else where they might possibly be useful to someone.

DS,

You stated in your last comment: "you said, how does someone make 250K, and i pointed out it’s quite possible in the mortgage business, and in finance generally, without too much ‘formal’ education or a college degree."

Let me remind you that I originally said: "Wow, a job that pays a 22 year old high school graduate with no training $250K a year. Where was this job all my life?" and followed up with "Well, damn me for knowing better… I’m still quite impressed. $250K is quite a lot of commission for a 22 yr old broker (presumably one who does not have an assistant and must pay a large portion of his commission to his office)."

Both of which clarified that I'm merely surprised about the existence of a particular subset of (1) high school graduates (2) with few years of work experience (3) making $250K a year. I also explained why I thought the scenario was unlikely, because a 22 year old is likely to work by himself and share commissions with a head broker, which requires him to do a lot of work, gross.

You replied after my two comments with: "how many times have i said this before? my broker mate in DC pays herself $250K out of the business, works from home, employs loan officers and takes 40% of their commissions as well.

she didn’t bother completing her arts degree in college…

brokers in Oz only make 0.7% on a transaction, whereas in US it’s flexible, but around 5% (!). That’s about 7x the pay for doing the same work, i.e. filling out a few forms. "

You said "but around 5%" with no specification of prime or non-prime. Indeed, your use of the word "around" creates the impression that 5% is the norm, when in reality the majority of the mortgage business does not receive that level of compensation. With your unqualified statement on the matter, you held yourself out to be an expert. Expect to get called for confusing and misleading statements like that.

There's also the fact that your comment failed to explain my original query because your example was different from that of the 22 year old mortgage broker. I never said that mortgage brokers or undertrained mortgage brokers can make $250K, you just extrapolated that all by yourself.

As for how I chose to waste my time. (eye roll). It's my time, not yours! Though I've usually found time spent debating with you to be quite futile for reasons I've already explained numbers of times, I commented on your comments because they were in response to my query. If you don't like my responses to you, don't respond to me.