2016 STRATMOR Spotlight Loan Originator Hiring Insights Survey

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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