New Survey Gets Inside the Minds of LOs – NMP Skip to main content

New Survey Gets Inside the Minds of LOs

NationalMortgageProfessional.com
Jan 26, 2012

Hammerhouse LLC has released the results of its Second Annual Survey of Originator Opinions. This 14-question survey was completed by a statistically significant sample of approximately 400 active mortgage loan originators and asked originators for their opinions on critical issues facing the mortgage industry and impacting their job performance. Originators responses indicate a strong preference to: ►See clarification of regulatory issues outstanding in the industry. ►Work with regional rather than national lending organizations. ►Find a home with financially secure lending organizations with effective operations and marketing. ►Value the leadership, communication, integrity and culture of an employer. ►Work with a recruiter to identify potentially better matched opportunities. “Mortgage loan originators have had a difficult couple of years," said Drew Waterhouse, managing director of Hammerhouse. "The housing crisis and regulatory responses have led to a 50 percent decline in the ranks of originators according to the U.S. Bureau of Labor Statistics. However, those that remain are focused on rebuilding the mortgage industry to make it the best it can be by demanding that lenders are executing effectively for consumers.” The Survey questions cover important factors from each of the six core business areas identified by Hammerhouse as integral to the model-matching relationship between originators and lenders: Leadership, Culture, Business, Operations, Technology and Geography. Particularly encouraging for an industry that has experienced such turmoil is the fact roughly one-third (31 percent) of respondents indicate that they have been in the industry for more than four years. More than three-quarters (76 percent) indicate that they, or their companies on their behalf, are investing in tools, training/coaching and other resources to improve performance. “The results of the 2012 Survey of Originator Opinions are supportive of our recently released mortgage industry hiring forecast,” said Waterhouse. “2012 will be another difficult year for the mortgage industry, yet as the survey results indicate those on the frontlines, working directly with consumers, desire to improve themselves and work for the best lending organization possible—even if that means making a change.” Highlights of some of questions from the Second Annual Survey of Originator Opinions include: Which of the following do you believe is the biggest challenge Loan Originators will face in 2012? • Rising interest rate environment: 8% • Working with a committed and financially stable mortgage lender: 29% • Product flexibility: 12% • Further oversight or legislation surrounding our industry: 51% What type of company structure do you believe will best support an originator with “self-sourced” referrals from business partners and past customers? • Federally-chartered/bank-backed institution(s): 28% • Correspondent mortgage banker: 56% • Broker: 14% • Credit union: 2% If you could add (strengthen)/change one thing (tool or resource) about your current company, what would it be? • Better marketing platform/continuity support: 30% • Technology—integrated systems, easy to use and accessible over the Web: 19% • Fulfillment/operations/service: 39% • Stronger Leadership: 12% Do you or your company invest in, for your own personal business, sales presentation tools, business coaching, industry indicators or other value add tools/resources to help you gain efficiencies or be more productive? • Yes: 76% • No: 24% What of the following would be the number one reason you would make a change from the organization you are with to a new firm? • Compensation: 23% • Product flexibility and opportunity: 24% • Human capital resources—for supporting business: 7% • Marketing platform: 3% • Presentation tools for your business: 1% • Overall corporate culture and leadership: 42%
Published
Jan 26, 2012
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community
Nov 23, 2021
MISMO Seeks To Standardize Pre-Closing Title Data

Forming workgroup to focus on standardizing document datasets to streamline process and increase efficiency.

Industry News
Nov 23, 2021
Pandemic's Impact On Real Estate Around The World

Although the impact of the COVID-19 pandemic on the real estate industry has been well-documented within the United States, it’d be prudent to know how the global event impacted other countries as well. 

Industry News
Nov 22, 2021
Housing Market Potential Strengthens Modestly

First American Financial Corporation's Potential Home Sales Model for October 2021 reported that potential existing-home sales increased 0.1% month-over-month to 6.27 million, with household formation continuing to grow, largely driven by millennials.

Analysis and Data
Nov 22, 2021