Problem: According to the PowerPoint slides and audio-visual lectures from Professor Ed Torres, what was a sub-prime mortgage loan? Multiple Choice Loan officers who sold these types of mortgages typically made 3 or 4 percent of the loan amount. This commission was far above the common 1 percent that good quality mortgages charged. Many pre-2008 loan officers became greedy and sold as many of subprime loans as they could. Many earned over $200,000 per year selling these loans during 2002 to 2008. They are a low-quality mortgage made to people with poor credit and questionable incomes. They start off with a temporary low rate, but after 6 or 12 months, they "reset" to a higher interest rate and higher monthly payment. All of the statements are correct facts about sub-prime mortgage loans. A subprime mortgage also have very few documentation requirements.