*Originators Are Hurting*
**By Tony Garritano**
***The current mortgage market has been unkind for sure. Originators, among others, have been hurt for sure. How much? I just got research from Hammerhouse LLC, a national recruiting and strategic growth firm for the financial services industry with mortgage sales and leadership placement at its core, that is very telling. The company released the results from its Second Annual Survey of Originator Opinions. This 14-question survey was completed by approximately 400 active mortgage loan originators and asked originators for their opinions on critical issues facing the mortgage industry and impacting their job performance. Here’s the findings:
****Originators responses indicate a strong preference to:
****>> See clarification of regulatory issues outstanding in the industry.
****>> Work with regional rather than national lending organizations.
****>> Find a home with financially secure lending organizations with effective operations and marketing.
****>> Value the leadership, communication, integrity and culture of an employer.
****>> Work with a recruiter to identify potentially better matched opportunities.
****“Mortgage loan originators have had a difficult couple of years. The housing crisis and regulatory responses have led to a 50% decline in the ranks of originators according to the US Bureau of labor Statistics,” commented Drew Waterhouse, Managing Director of Hammerhouse. “However, those that remain are focused on rebuilding the mortgage industry to make it the best it can be by demanding that lenders are executing effectively for consumers.”
****The Survey questions cover important factors from each of the six core business areas identified by Hammerhouse as integral to the model-matching relationship between originators and lenders: Leadership, Culture, Business, Operations, Technology and Geography. Particularly encouraging for an industry that has experienced such turmoil is the fact roughly one-third (31%) of respondents indicate that they have been in the industry for more than four years. Moreover three-quarters (76%) indicate that they, or their companies on their behalf, are investing in tools, training/coaching and other resources to improve performance.
****The complete 2012 Survey of Originator Opinions results can be viewed at http://www.teamhammerhouse.com/?p=1685.