Hammerhouse Releases Results of 5th Annual Originator Survey

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Amidst Perceptions of a Less Rewarding Career, Originators Raise Expectations

Hammerhouse Strategic Growth Parnters

"We see a clear indication that originators see a brightening future and believe they know what it will take to succeed moving forward,” commented Drew Waterhouse, Managing Director of Hammerhouse.

Hammerhouse LLC, an expanding national recruiting and strategic growth firm for the financial services industry with mortgage sales and leadership placement at its core, today released the results of its Fifth Annual Survey of Originators’ Opinions. The annual survey asked originators for their opinions on critical issues facing the mortgage industry and impacting their performance of their jobs. Of the significant sample of more than 800 active mortgage loan originators that responded, 52% have annual production between $9 million-$24 million.

This year’s survey found that a majority of mortgage loan originators (56%) are finding their career less rewarding than in the past and another 8% no longer find their career sufficiently rewarding. However, the results illustrate that originators are anticipating an improved future coming and are raising expectations. 87% of originators expect 2015 origination volume to equal or exceed 2014 levels, compared to last year when 56% of originators expected a drop in origination volume, and 73% expect their personal volume to increase in 2015, versus 53% who held that opinion last year.

“Mortgage loan originators have been operating in a very difficult environment over the past several years and it should not come as a surprise that their level of satisfaction with their choice of careers has declined. However, we see a clear indication that originators see a brightening future and believe they know what it will take to succeed moving forward,” commented Drew Waterhouse, Managing Director of Hammerhouse.

The 2015 survey asked originators’ opinions on key issues facing the mortgage industry and had a special focus on their views of issues at the local level. Key findings include:

  •     After a one year hiatus, regulatory concerns have regained their position as the primary concern (56%) of originators.
  •     Originators see marketing as the “best personal investment” they can make in their business, yet most (64%) spend less than $500 per month on marketing.
  •     Very few originators (7%) exceeded their production goals in 2014 with more than half (53%) missing their goal by 25% or more.
  •     Local referral partners were viewed as the key ingredient necessary for meeting goals and have the most significant impact on the development of an originator’s career.
  •     Local leaders at lending firms are expected to improve operational execution, escalate operational issues and get out of the way.
  •     A majority (59%) of originators have worked for 3+ years with the same local leadership and most (78%) believe that the local leadership supports them and are “connected to the street” (61%).

Click here to view complete results

Hammerhouse recently published its view that 2015 is the beginning of the “Era of Vertical Model Matching” in the mortgage industry.

Vertical Model Matching

  •     Both lenders and originators are connected to key elements in the mortgage origination production value chain that are outside of the relationship between lenders and originators.
  •     Mortgage loan originators are connected to other professionals—Realtors ®, attorneys, financial advisors, customers and their communities.
  •     Lenders are connected to the secondary-market, the regulatory apparatus and the capital markets.
  •     These external relationships determine the pre-conditions that are necessary before an originator/lender team can deliver its services and profit from doing so.
  •     Both lenders and originators must look for a Vertical Model Match if they are to truly determine whether the other party is aligned with the key external drivers of the business.

“Vertical Model Matching will separate originators and lenders from the pack going forward,” added Mr. Waterhouse. “Survival and ultimate success in mortgage loan origination will depend on alignment with those drivers that lie beyond the originator/lender relationship. As the 2015 survey showed, originators have raised the bar for their own performance by reaching beyond previous goals, strategies and tactics. They also make it clear that they expect the same from their employer.”

About Hammerhouse LLC

Hammerhouse LLC is an expanding national recruiting and strategic growth firm for the financial services industry with mortgage sales and leadership placement at its core. Founded in 2008, Hammerhouse partners with clients to source, attract Model Match, hire and retain revenue-generating human capital at all levels of an organization from production to executive leadership. Through its unique Model Matching process, Hammerhouse helps mortgage bankers and depositories, as well as private equity firms, expand top line revenue by adding purchase-oriented mortgage professionals that have developed transferable relationships with referral partners and past customers. For more information on Hammerhouse LLC, please visit http://www.teamhammerhouse.com.

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Cara Hopkins
Hammerhouse, LLC
949.655.0385 Ext: 129
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