4 mortgage staffing essentials

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Applying the best in ‘people practices’ can help CUs do well in the home loan marketby: Dennis HardimanCredit unions have long prided themselves on their outstanding member service. Their mortgage business is no exception. However, as the cost, complexity and risk involved with originating mortgages continue to climb, many credit unions are struggling to keep up with larger institutions.The good news is that much can be done to build up a mortgage staff to help make a credit union’s mortgage operation successful. The following four steps are ones leveraged by Embrace Home Loans and the team at Affinity, our outsourced mortgage solution. You can apply them at your credit union, too.1. Recruit the right talent. First and foremost, your credit union must ensure it is recruiting the right loan officers and mortgage staff. With national banks continuing to lay off their mortgage teams, there is a growing talent pool of professionals with extensive experience. For instance, Wells Fargo is cutting more than 1,000 lending jobs this year, presenting credit unions with an opportunity to scoop up top talent.Location-agnostic talent can also be a benefit by virtually supporting your credit union’s goal to provide members with mortgage loans. As an example, Embrace Home Loans is recruiting work-at-home underwriters. continue reading »last_img

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