Why has someone offered me an interview as mortgage adivisor; training fees, commision only etc etc the catch?

Question

Why has someone offered me an interview as mortgage adivisor; training fees, commision only etc etc the catch?

Answer 1

Some mortgage companies have franchise-style packages. You buy into the company, act as the broker, advisor or whatever they're calling it at the time, and collect a commission on all loans you place.

It's generally not a very good deal in a bad market such as we're currently experiencing. You only get paid when someone qualifies for a loan on a house.

Answer 2

It's not a catch but in this market it's extremely difficult to make a lot of money doing mortgages.

The thing that jumps out at me is that it says 100% commission.  That means that you're not getting paid until you actually close a loan.  In dealing with people that are purchasing homes it could take months for them to find houses, which means you'll not be getting paid.  

Also, typically with 100% commission it means that you'll have to go find your own leads.  Plus, you're likely to not get any health/dental benefits.

Answer 3

The catch is "training fees".

Real jobs train you for free, or even pay you during the training period.