Amy Tierce is regional vice president of Wintrust Mortgage
and a 25-year real estate industry veteran. Her goal is to
grow the Wintrust footprint in the Greater Boston area by
educating consumers about the company’s full product
menu, while recruiting new talent and creating a team of
dedicated professionals. She is always one to share her
knowledge and expertise (NMLS 15695). Reach Tierce at
email@example.com or (617) 308-4870.
Find Your Place in the Field
Too much job hopping can become an anchor that sinks your career
By Amy Tierce
If you are recruiting loan originators in the mort- gage industry, then you are looking at a lot of resumes and LinkedIn profiles. These profiles are meant to tell an applicant’s unique story, but
so many of these stories appear to be the same. As
a result, many will not have happy endings when it
comes to the jobs market.
An originator’s story often begins with that individual’s first job in the mortgage industry, which normally
lasts a fair amount of time — usually between five to
seven years. Then, the leap-frogging begins as that
person moves from job to job. This often is the result
of the shakeup of the industry in 2008.
It can be shocking to see how many originators have
been employed by multiple companies, even jumping
ship after only a year at a prior workplace. How can you
originate loans and take care of your clients and referral partners if you keep moving from place to place?
In the mortgage business, it can take up to 90 days
to develop proficiency in a new company’s systems,
approach and policies. This gives a leap-frogging originator only nine months to put these newly acquired
skills into practice before heading off and resetting the
clock at another office.
The reasons and excuses for changing companies
really don’t change. It is the usual laundry list of complaints. The processing is weak. I can’t get my loans
closed. They don’t have the products, rates or marketing promised during the interview. Or, the closing
department stinks and their technology is outdated.
The list goes on and on.
Why did the originator select this company in the
first place if they are so bad to work for? Why do other
originators thrive under these same “horrible conditions” at that organization? What questions did they
ask when investigating this company for their next
career move? The biggest unanswered question of all
is: How do some originators make the same mistake
year after year, over and over again?
Yes, there has been a lot of disruption in our industry. Some companies have merged, others have
closed, and some had to limit their product offerings.
Sometimes, a company is no longer the same company
that an originator originally started with.
Still, one must wonder, how did they keep making
those same bad choices? Many originators are sitting
at a desk at a company that is not working for them
right now. You can paint a pretty standard picture
among them: The systems don’t work or the sales
team has changed, which caused a shift in dynamics.
They may have concerns with the company culture. Maybe the company’s closing process has fallen
apart and the originator no longer has any faith that
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