2016 STRATMOR Spotlight Loan Originator Hiring Insights Survey

This event is closed. If you have any questions, please contact the planner directly.

DESCRIPTION OF LO HIRING INSIGHTS SURVEY

Summary Results and STRATMOR Commentary for the April-May "Spotlight" Loan Originator Hiring Insights Survey are now available for purchase and download. 

Among the many useful results are lender responses to a question asking them to rate the effectiveness of various recruitment methods (using a 5-point scale where 1=Very Unsuccessful and 5-Very Successful):

  • Lenders indicated that Branch Managers are the most effective resource (Score = 3.29) at recruiting Experienced LOs (originators with more than 6-months experience as a retail LO when hired).
  • While no method for recruiting Newbie LOs (originators with 6-months or less experience when hired) was deemed effective, the use of Inside Recruiters scored the highest (Score = 2.95).

LO Hiring Charts

In this survey, additional fundamental Results also address:

  • The effectiveness of recruiting whole branches.
  • The financial incentives that are most commonly used to recruit experienced and "newbie" LOs.
  • The ramp-up period and minimum volume targets that lenders set for experenced and "newbie" LOs.
  • The performance of new LO hires, in particular the percentage of experienced and "newbie" LOs that fail to meet minimum volume targets within the prescribed ramp-up period.

Before proceeding, if you want to review and download a copy of the survey questions, click here.

RESPONSE DATA FOR LO HIRING INSIGHTS SURVEY

 Launched Date:  April 15, 2016
 Closed Date:  May 30, 2016
 Individuals Invited:  1,618
 Companies Invited:  811
 Respondent Companies:  43


 Respondent Type Respondent #  Respondent %
 Independent Mortgage Co 28  65%
 Bank Owned/Affiliated 13   30%
 Credit Union/Affiliated    2          2%   
 Builder/Realtor Affiliated   0       0% 



PURCHASE TRID - IMPACT AND EXPERIENCE SURVEY RESULTS

PRICING:

Detail Report - Participant $250

Detail Report - Non-Participant $500

TO PURCHASE, CLICK THE PURCHASE BUTTON BELOW.


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