Among mortgage lenders, hiring demand is highest for production employees. Several service providers are also expanding staffing. One California county where interest in loan originators had diminished is seeing renewed demand for mortgage professionals.
Finding qualified loan officers has become difficult, according to Anikim Credit Corp. The Orange, Calif., recruiting firm explains that mortgage originators have been in demand as a result of low interest rates and a stabilizing local market.
In Orange County, the job market had been difficult for loan officers. However, over the past year the job market for originations steadily improved, and "the last quarter has been extreme," Anikim said. He noted that banks are finding it difficult to recruit reverse mortgage originators in San Diego.
Anikim says new loan originators just getting into the business adapt to today's cumbersome rules and regulations. But originators who are returning to the business after being out since 2008 are shocked at all the new requirements, with some finding "themselves overwhelmed with getting properly licensed." (Anikim Credit career site)
Hammerhouse LLC predicts a shift from refinance to purchase financing for originators this year and noted that fewer people will be needed as origination sources change and business development strategies adapt. The recruiter says independent mortgage producers will consolidate as volume drops off -- though the mortgage broker ranks will expand.
Many companies are developing new recruits, though "older, more experienced and proven originators are the hottest commodity in the industry. Hammerhouse said highly valued originators will command value-added benefits like work-life balance flexibility, administrative and marketing support, and professional development and training
"Originators with transferrable, balanced, referral-based books of business will be in high demand," Hammerhouse stated. "There is simply no better type of originator for a mortgage company than one who has consistently produced at high levels; both purchase and refinance business, sourced from past-customers, Realtors, builders and financial advisors.
"Originators meeting this standard will find that they have significant leverage with employers." (Hammerhouse recruiting site)
In addition to saving 400 New York HSBC jobs, PHH Mortgage Corp.'s $35 expansion in Amherst, N.Y., will create an additional 400 New York jobs over the next years, New York Gov. Andrew M. Cuomo said in November. PHH will retain the HSBC employees and outsource their services back to HSBC. New York will provide $3 million in state resources and local support. (PHH Mortgage careers)
Quicken Loans Inc. affiliate Title Source said in January that it planned to fill 400 openings during the first quarter. Title Source moved 1,100 team members in mid-2012 to its new headquarters in Detroit, where 375 of the new employees will work. Title Source provides title, appraisal and closing services. (Title Source careers)
As of Feb. 11, New Penn Financial LLC reported U.S. headcount of 1,200 people, including 300 at its headquarters in Plymouth Meeting, Pa. New Penn previously reported that staffing had grown by 250 employees as of January 2012 to 900 as of July 2012. A December interview that The Inquirer had with New Penn President and Chief Executive Officer Jerry Schiano indicated that staffing had reached a thousand people at 36 locations. (New Penn Financial careers)
The Dover Post reported in February that New Penn is hiring as many as 21 employees in Delaware.
Two hundred new employees had been added last year at Summit Funding Inc. as of Dec. 14, 2012, bringing total staffing to 490 employees, according to the Sacramento Business Journal. Summit reportedly operates 25 branches in 15 states.
The City of Des Moines, Iowa, said in an official document from March 2012 that Mortgage Compliance Advisors LLC is expected to add 150 new full-time jobs over the next three years as a result of a new production center. While media representatives of Mortgage Compliance ignored requests for more information, an article from the Des Moines Register indicated that the center opened in April 2012, employed 55 people as of December and could reach 500 in national staffing over four years.
During January, Waterstone Mortgage Corp. reports that it added 26 new employees, bringing national headcount to 600 employees. Fourth-quarter hirings totaled 83 and included 23 in December, 31 in November and 29 in October. (Waterstone Mortgage careers)
More than a hundred production employees -- including local mortgage consultants, operational support staff and executive leaders -- were hired by Gateway Mortgage Group during 2012, an announcement last month indicated. Growth is expected to continue this year as the Tulsa, Okla.-based company expands beyond the 23 states and 42 branches that it currently originates from. (Gateway Mortgage Group careers)
A hiring event held last month by Impac Mortgage is expected to help the company fill a hundred new jobs in Salt Lake City. Openings include underwriters, doc drawers and funders as well as closers. The positions are junior, middle and senior level. (Impac Mortgage Utah careers)
Around 90 bankers and mortgage professionals are being hired by Wells Fargo & Co. in Alabama, the Birmingham Business Journal reported. Around half of the hirings are loan officers, loan processors and underwriters for Wells Fargo Home Mortgage locations. (Wells Fargo careers)
At least "90 high-quality jobs" resulted from the opening of a Mortgage Contracting Services LLC office in Ruston, La., a December announcement said. In addition, a new Tampa, Fla., headquarters facility provides capacity for more staff this year at the default service provider. (Mortgage Contracting Services careers)
Fairway Independent Mortgage Corp. reported on Feb. 26 that its national staff stood at approximately 1,400 employees, up from the end of last year when the total was 1,313. (Fairway Independent Mortgage careers)
During 2012, Inlanta Mortgage reported that it hired 77 employees -- its best year ever for recruiting In just December, 11 people joined the Brookfield, Wis.-based firm.. Inlanta said that it was still actively recruiting for many new positions including closing coordinator, experienced processors and underwriters. Other open positions included loan officer and loan officer assistant. Inlanta employees more than 220 people and operates 33 branches in 15 states. (Inlanta Mortgage careers)
An expansion into mortgage lending by Lakewood, Colo.-based Solera National Bancorp Inc. resulted in the addition of 50 mortgage professionals, a January announcement indicated.
The StoneHill Group reported that it began hiring in November for 50 open jobs at a new facility in Jacksonville, Fla. (StoneHill Group careers)
Last year ended with 229 employees at NFM Inc. at 19 branches, growing from 189 people at the end of 2011. The Linthicum, Md.-based company celebrates its 15th anniversary on March 3.
Around 20 new mortgage jobs are coming to Jacksonville, Fla., during the next few months, Foundation Financial Group announced in February. A new regional sales center was opened for a third division. Candidates need a college degree.
"During the latter part of 2012, FFG expanded its divisions in Colorado, Kentucky, Georgia and Michigan," the statement said. "Expansion goals for 2013 call for doubling the Foundation Financial Group Branch of retail offices." (Foundation Financial Group careers)
USA Mortgage reported in its quarterly origination survey to Mortgage Daily that staffing inched up to 475 employees as of Dec. 31 from 464 people as of Sept. 30, 2012.
Headcount at Churchill Mortgage finished last year at 303 employees, up from 292 people at the end of September, according to operational data provided to Mortgage Daily. (Churchill Mortgage careers)
Thanks to appraisal ordering requirements that have emerged since the onset of the financial crisis, Global DMS has established itself as a successful technology provider for lenders and appraisal management companies. Healthy business has pushed headcount at the Mortgage Daily advertiser to 38 employees as of Feb. 14, expanding from 31 as of Sept. 30, 2012.
New American Funding hosted a job fair at its Tustin, Calif., headquarters last month. Immediate openings included loan officers, processors and direct endorsement underwriters. In addition, VA underwriters are being recruited, as are funders, quality-control auditors and wholesale account managers. (New American Funding careers)
The sales force at McLean Mortgage Corp. expanded by a quarter between 2011 and 2012, a news release indicated. The number of company employees was previously reported at 122 as of Sept. 30, 2012. Staff expansion will continue this year with a Maryland office scheduled to open in the first quarter. (McLean Mortgage careers).
A Nov. 27 report from DocuTech Corp. said that staffing at the Idaho Falls, Idaho, firm was up 10 percent in 2012. The mortgage document service provider said that another 5 percent expansion was expected by the end of last year. (DocuTech careers)