[TStein]

I do not believe this person is real.

I think he is just trying to play with the big boys, like those senile clients on the phone who will just talk to you because they have nothing else to do and their cable was disconnected.

Truth be told, I would not be shocked at all if he was being honest.

I'm sure some shops have the mindset of "Why only make 8 points when I could make the full 45!"

But as mentioned...legal fees, underwriting, collections, etc are all factored in. I doubt the average boiler room is even thinking about anything other than the extra initial return.