They had a boiler room team of salespeople who made an insane amount of money. We are talking six figures a month. They were not at all highly skilled or had any financial background or degree.
Their bonuses could be a luxury car. (or once a horse).
I worked on the IT side. We made the software that basically did all the work. It included instructions of a spiel to sell loans, how to get around various excuses and such. And it did all the work with filing the required paperwork ensuring all the required information was there, sending out information to the people who refinanced all that crap. You could, in practice, take someone from the street, set them up with this software and they could sell loans. (this is not as far fetched as it may sound).
I have so many stories about my time there but anyways, the IT team was not at all highly paid, nor very appreciated. One Christmas we knew we were getting a bonus, and given what we knew about bonuses being handed out we were kinda excited.
Wanna guess what it was?
A $50 gift card for a ham.