more attractive for new loan originators.
Emerging talent
Right now, the focus in the mortgage
industry is on aggressively recruiting
seasoned producers by any means
necessary. Large retention or signing
bonuses are examples of the many
unsustainable tactics being deployed
to protect companies against a loss of
professional development, indepen-
dent working opportunities, higher
income potential and the opportunity
to help others.
Mortgage recruiting will continue
to change as companies realize that
of many other top priorities, such as
professional development, indepen-
dence and helping others.
Mortgage companies should seek to
offer training opportunities, avenues
for growth and ways for new hires to
make the housing-finance industry
production. Recruitment efforts will
need to build new populations to target
for recruitment, and there are currently
too few mortgage companies investing
in these strategies for the future.
A shift in how mortgage companies
recruit needs to happen now. The new
populations of future top producers
will start to come on board when
mortgage companies offer opportunities that reflect the values of this new
workforce, not the other way around.
Another strategy to recruit the best
future loan officers is to focus on flexibility. Work schedules using mobile
technology will allow mortgage professionals to work remotely and have control over their schedules while building
their pipelines. Clearly outline what
mobile platforms you have and if they
allow for true freedom.
Companies also should be able to
illustrate how job prospects can expect
to deliver meaningful work. Reward
producers — both personally and financially — for serving borrowers by
being problem-solvers. State whether
or not your company donates to charitable causes or allows employees to
participate in volunteer work on the
clock. Building a strong professional-development culture and the ability
to focus on what is important to new-to-the-business loan officers allows
employees to stay refreshed and continue to thrive well into the future.
n n n
Today’s mortgage companies should
be able to showcase their ability to
build human connections in a digital
world. That will be key to their future
success. Those willing to invest in newly
qualified mortgage professionals to
ensure they can better serve borrowers
in the way those borrowers want to be
served will bring about change to the
bottom line. If embraced by organizations from top-to-bottom, this mentality helps further company goals
involving community work and pushes
organizations to create new initiatives.
The mortgage industry is at a fork in
the road. Companies that understand
how recruiting needs to change to
fit the desires of the next generation
of originators will thrive in this new
marketplace. n
<< Change continued from Page 108 “A shift in how mortgage companies
recruit needs to happen now.”
