Top Mortgage Producers on the Move in 2012, Management to See “Shake Up”

The top mortgage originators will continue to flock toward the best model-matched organizations for their business in 2012, and management teams will be “shaken up.” These predictions and others were made by national mortgage sales recruiting firm Hammerhouse in its outlook for the top hiring trends in 2012.

“2012 will be a pivotal year for the mortgage industry,” says Drew Waterhouse, managing director of Hammerhouse. “The transition to a purchase-oriented business model that will last for decades will fundamentally alter the industry and the careers of the people in the business. Leadership in the lender ranks may change, but one thing will remain the same—it will take talented, skilled originators to acquire and close the loans.”

The top mortgage producers will look for strong leadership, consistent value propositions, strong capital positions, loan quality, compare ratios an multiple investor channels, the survey finds. In order to secure the best producers, lenders will likely invest in programs and systems to attract them.

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“With purchase business as the mandate, lenders will shake up management with selective or whole-team changes,” Hammerhouse reports. “The ‘era of refinancing’ is over in the mortgage industry and management that can effectively respond to that reality will be in high demand.

Hammerhouse also sees regulation becoming more normalized, consolidation continuing, expansion of companies that are well capitalized and responsible.

Written by Elizabeth Ecker

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  • If HECM purchase out produce HECM refi’s it will be a sad state for the industry. Volume would certainly be at an all time low. How many seniors want to move let alone use the HECM for purchase. Niche within a niche can’t be good but good luck if so.

  • I chuckled reading this article this morning.  People are actually swallowing the idea that the market is turning and we will soon be seeing sales recovering.  It is not affordability or the cost of rent to mortgage payments which will make the difference.

    NAR has been crying that affordability has never been better for 2 years.  The rent to mortgage payment ratio has been great in parts of the country for some time.

    So what is the problem?  Down payment requirements, lending standards and underwriting standards.

    What I cannot understand is why our industry would be ready for a big change in the senior home purchasing market.  Most analysts agree that home values may drop this year but even if home prices do not recover now, the huge percentage drops of the last few years are unlikely.

    Are seniors waiting for the value of their current homes to recover?  If so, their moves are several years off at best.  Is it that they want to make sure that home values will not drop much further?  Then why aren’t they moving yet with measurable results showing up in our endorsement numbers?  

    What makes this industry work is not lenders; it is originators.  Originators are frustrated and are trying to do what they can to find originations despite the downward trend in endorsements.  Costly marketing has only been marginally helpful at best.  The two great areas where we have seen little growth historically is in purchase transactions and the wealthier senior market.  

    Reaching out to real estate licensees is a terrific idea but not from the idea that HECMs for purchase will become the rage but rather we are no longer just offering them refinancing and thus the conversation is much easier.  So those who are expecting a huge rise in HECMs for purchase may be dissatisfied for years to come.  HOWEVER, those who are looking for a new field to farm, the real estate selling community seems like a much, much riper field even though most of the transactions will be refinancing for some time to come.

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