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Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.

The Job Journal

Recent mortgage-related hirings

Nov. 27, 2010


Many current career opportunities tied to the mortgage industry are in servicing, and a recent report looks at compensation and experience requirements at some servicers. Other mortgage-related openings include jobs in outsourcing, appraising and reverse lending.

ProPublica, a consumer advocate organization that is frequently critical of the mortgage industry, reported on a review of open foreclosure jobs, required experience and compensation.

One listing was a "supervisor of foreclosure department" that pays between $10 and $12 an hour and required only a high-school education, ProPublica said. Another opening was for an "evening foreclosure supervisor" at an apparent 24-hour facility in Tampa, Fla., that pays between $17 and $22 and requires two years' supervisory experience and knowledge of the entire foreclosure process.

A Baltimore listing for "foreclosure processing" required no experience but emphasized "extraordinarily fast and accurate typing" and promised between $12 and $13 an hour.

Ally Financial's requirements for a "foreclosure specialist" were a college degree and at least three years' experience in mortgage banking, ProPublica reported. A "quality specialist" that reviews foreclosure documentation at Chase only required a high-school diploma -- though two years' lending experience, some college and prior foreclosure processing experience was "preferred" or "strongly desired." Nationstar Mortgage preferred a college degree and one year's foreclosure experience.

Around 300 consumer finance and mortgage servicing employees were hired in Johnson City, Tenn., by Advanced Call Center Technologies during the second quarter, the Kingsport Times-News reported. Another 300 hirings for jobs paying between $8 to $15 an hour were projected by the outsourcing firm during the second half of 2010.

StreetLinks National Appraisal Services, a Mortgage Daily advertiser, held a job fair in its home town of Indianapolis last month. The appraisal management company said recruits needed "significant appraisal review background." Experience in underwriting, processing or appraisals "may provide an excellent fit."

The company reported to Mortgage Daily that headcount has increased from around 200 in January to 350 now.

Third-quarter hirings at Ovation Home Loans in Southern California were projected at around 40 to 50, compared to approximately 70 people hired during the second quarter, the Orange County Register reported.

A news release last month from Toronto-Dominion Bank indicated that 50 mortgage jobs were added in Lexington, S.C., during October. The recruits included processors, underwriters, closers and operations staff. Next year, TD plans to bring on 25 mortgage employees from Carolina First Bank, which TD acquired in September.

Fourth-quarter hires at Great Oak Lending Partners are projected at 20 to 30 people. The Timonium, Md.-based reverse mortgage lender said headcount stood at 65 employees before the hires. Great Oak reports more than $1.5 billion in originations since its 2001 founding.

Specialty servicer AMS Servicing LLC held an open house during July in Depew, N.Y. The openings included full- and part-time "customer service call center representatives" who will support parties to a short-sale. A high-school diploma is required, though call-center experience is helpful. AMS did not respond to Mortgage Daily's inquiry about the number of positions involved.

Stewart Lender Services announced the opening of a National Processing Center in Coppell, Texas. A Stewart spokesman ignored a request for information about how many people are expected to be hired at the facility.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of in 2000.

[email protected]

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

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Home equity conversion mortgages, HECM lenders and HECM reports. Reverse mortgage lending issues, analysis and compliance.
Appraisal News | AMC Directory
Appraisal industry news coverage, including stories about independence requirements, AVMs and appraiser fraud.

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