Like many of its bigger brethren, SunTrust Banks Inc. reported a decline in quarterly originations. But unlike its competitors, the company is adding production staff.
The Atlanta-based company reported $5.8 billion in first-quarter production — falling from $8.7 billion in the fourth quarter. The one-third decline was in line with industry-wide activity.
More than 4,500 layoffs are planned at Wells Fargo & Co. as a result of falling originations. At Bank of America Home Loans, 1,500 positions are impacted from branch closings, while 400 layoffs have been disclosed by CitiMortgage Inc.
But SunTrust is bucking the layoff trend and adding production jobs.
By August, the company hopes to fill 76 positions in the Southeast, a spokeswoman said in a statement. The job openings are immediate.
“SunTrust Mortgage is launching a new client centric operations process,” the statement said. “This new process re-designs the mortgage fulfillment process for clients and employees.”
SunTrust said 36 of the jobs are in Atlanta. The openings include underwriting and closing positions. In Charlotte, N.C., another seven underwriting employees are being recruited, while the number is 33 in Richmond, Va.
Underwriting coordinators are being paid between $30,000 and $34,000 on an annual basis. Qualified prospects will need up to two years’ experience. Closers and shippers are being recruited at between $37,000 and $42,000.
Mortgage underwriters with at least two years’ underwriting experience or six years’ processing experience can earn $42,000 a year. More experienced recruits who will handle conventional and government loans can earn as much as $67,000 with at least four years’ underwriting experience.
The benefits package includes various medical and dental plans, retirement and 401k plans and tuition reimbursement — among other things.
SunTrust isn’t the only lender increasing its mortgage staff; MetLife Bank has grown its mortgage force to 4,956 as of March 31 from 4,765 at the end of last year. At JPMorgan Chase & Co., the company plans to add as many as a thousand mortgage servicing employees in Ohio.
The New York-based company is looking to add between 500 and 1,000 mortgage-servicing jobs in Gahanna, Ohio.
read more about career opportunities at www.suntrust.com/careers
