You can disagree but you aren't accurate.
"I disagree. What about the interest they’re continuing to earn on loans from past years? Most loans are paid back over many years. So if they have $500M earning $15M this year, and loans from last year earning $12M, and loans from 2 years ago earning $10M, etc., their revenues could easily be in that high. That’s why they call it compounding interest."
It is APR (Annual Percentage Rate)
Let's say Gold Quest does a mortgage for 5% and that is being very generous - GQ has to borrow the money to finance the loan so there isn't much meat on the bone.
To keep things is perspective - Rocket mortgage originated $107.2 billion in mortgages in 2020.
That is a good reason for Gold Quest or whatever the new company is to go public so they have access to capital.
But that isn't how companies like Gold Quest operate. First you can get a 30 year fixed rate mortgage is about 2.5% - under your scenario Gold Quest would have to have and endless supply of capital for lending - they would go under if they didn't bundle and sale their loans at a discount - the margins are very small.
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