A Mortgage Meltdown Quiz | RISMedia

A Mortgage Meltdown Quiz RISMedia: "When someone borrows $300,000 to purchase a home, for example, the broker receives 2 points at closing for a total of $6,000. They then package the loan with other loans and sell it to the market at 104% or $312,000. In this case, the originator just “earned” $18,000 off the mortgage loan-the $6,000 commission plus the $12,000 markup."