At career start within the first five years, average income sits near $39K, and the average for folks who have worked for five to 10 years is only slightly higher at $50K. Another unethical practice involves inserting hidden clauses in contracts in which a borrower will unknowingly promise to pay the broker or lender to find him or her a mortgage whether or not the mortgage is closed. Rather than work directly for a bank like loan officers, these consultants work as independent contractors. The goal is to package loan portfolios in conformance with the secondary market to maintain the ability to sell loans for capital. Potential borrowers may even be sued without having legal defence. A depositor may request their money back and the lender would need large reserves to refund that money on request. Licensing requires 20 hours of coursework, all of which must be approved by the Nationwide Mortgage Licensing System and Registry. We do not offer products from across the mortgage market.” 7

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