"I Wanted All the Money." Then I Owned the Company. | Robert Mahaffey

Every loan officer thinks the same thing. I originated the loan, I deserve the money. All of it. Robert Mahaffey thought so too, until he owned the company.An LO gets paid off the top line. An owner gets paid off the bottom line. In this conversation with Wally Elibiary, Robert gets brutally honest about the economics of owning a mortgage shop, including the CEO who admitted he nets 44 basis points after paying for everything that lets his originators keep 150.Before you leave for a bigger split, listen to what those basis points are actually buying you.