Feb. 20: Jobs, jobs, and jobs… MI, Freddie and Fannie career links; Companies are indeed hiring

I know that it is a holiday, so I wasn’t going to send out a commentary. (For some trivia, George Washington was born in Virginia on February 11, 1731, according to the then-used Julian calendar. In 1752, however, Britain and all its colonies adopted the Gregorian calendar which moved Washington’s birthday a year and 11 days to February 22, 1732. Originally established in 1885 in recognition of President George Washington, the holiday became popularly known as Presidents’ Day after it was moved as part of 1971’s Uniform Monday Holiday Act, an attempt to create more three-day weekends for the nation’s workers.) But then I thought, there are plenty of people in our business who are looking for jobs, and it would be no bother on my part to copy and paste the job ads in recent weeks and send them out. Heck, if it helps a few people find work, and that in turn helps some borrowers buy some homes, it’s a good thing and certainly worth my time! So if you’re looking for work, or if you are happily employed but know someone looking and can forward this along, good! People can also post their resumes for free here for viewing by employers who pay a nominal $75 to view resumes for several months. (There’s no podcast today, but ordinarily it can be found here and last week’s was sponsored by the STRATMOR Group, the data-driven mortgage advisory. For sponsorship, contact host Robbie Chrisman.)

Setting the mortgage employment stage

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(In early January I posted this. Yes, it is a few months old, but the numbers are very telling.)

Wells Fargo’s economics team sliced and diced the job numbers in the mortgage industry. To no one’s surprise employment is down, but by how much month over month or year over year?

“Total mortgage industry employment was down -9,500 m/m, which is one of the more sizable m/m reductions we have seen since mortgage companies began headcount cuts earlier this year. The current tally of 377,600 total mortgage employment is down -11.7% from the recent 10+ year high. This month was a good step, but we believe we will need to see additional sizable reductions to bring the supply/demand back in balance. We also note that the -11.7% mortgage employment decline from the peak, per the BLS data, compares to the “active” mortgage loan officer count down -17% from the peak, per NMLS (see MLO Tracker: Another Sign that Excess Capacity Is Exiting the Mortgage Industry).

“Total mortgage employment is down in November, which includes employment at 1) mortgage banking and 2) mortgage brokerage firms. The data is released on a month lag, so the latest data is as of November. We focus on employment data, as we believe it is a proxy for mortgage industry capacity. For the month of November, total mortgage employment was 377,600 (down -9,500 m/m vs. -3,000 last month), down -10.5 percent yr/yr, compared to -8.8 percent last month.”

Wells Fargo’s report wrapped up with, “Mortgage broker headcount is down in November. In November, mortgage broker employment was down -2,300 m/m after the 2,000 loss last month. Mortgage broker employment is down -2 percent yr/yr, compared to -0.6 percent last month.”

Employment

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The private mortgage insurance companies are hiring: MGIC, National MI, Arch MI, Radian, Essent, and Enact (in no particular order). And while’s we’re at it, Fannie Mae and Freddie Mac. And my cat Myrtle’s friend the CFPB.

For someone looking for a quick, part-time research project, Brandie Young writes, “I am working with a pre-launch start-up that will conduct a soft launch in the next 45 days in the mortgage business. This project involves landscape information and is important as it will be used to inform various functional areas, from positioning to pricing. To be fair, this is more information gathering than research and should take 10-15 hours this week. But I want someone who understands the landscape. I built a template as a guide and added some info on one company to give an idea of structure. This isn’t an exact template, but it lays out the approach to gathering information that could be useful. I welcome the researcher to add to it from their perspective. Anyone who knows residential lending should contact me to discuss.”

In the Northwest and California, Banner Bank is searching for Mortgage Loan Officers looking to create lasting Realtor and builder relationships at a bank focused on the market today. Banner has opportunities for lenders looking for local decision making with FHA, VA, USDA, state bond and true Portfolio lending opportunities along with servicing retained Fannie and Freddie loans to assist in client retention. Additional highlighted products cover CRA lending with private label no payment down payment assistance to help assist all borrowers with the right opportunity. Banner is the right fit for an established team or the individual looking to grow their business and take the next step in their career. Please send resumes to Aaron Miller.

There’s a place you want to be in life. A place where the journey is as much fun as the destination. Evergreen Home LoansTM calls it living WOW. They have the advantages to help you get to that place, including an efficient technology stack, a robust portfolio of innovative products, and a culture embraced by associates who are driven by empowerment. “We’re planting seeds for the next market, for the next year, for the next year after that. It’s all about looking forward and vision and getting the right people on the team today to build the winning platform for the future,” said Robert Lipston, EVP, Loan Production. If you are looking for a company that has an award-winning culture, a place where the human spirit meets inspired technology and innovative products, check out Evergreen’s Careers Page and start your journey to living WOW.

Exciting things are happening in the Northeast and Mid-America Regions for PrimeLending. The company is thrilled to announce some recent promotions: Kelly McGuinness has been promoted to SVP, Regional Manager over production activities in the Northeast, including New York, New Jersey, Connecticut, Rhode Island, Massachusetts, New Hampshire, Vermont, and Maine. Since joining PrimeLending in 2013 as Branch Manager, Kelly has distinguished herself as a perennial top performer and an excellent servant leader, industry educator and mentor. In the Mid-America region, Kim Dybvad has been promoted to VP, Area Manager with responsibility over Ohio, Indiana, Illinois, Michigan and Wisconsin. At PrimeLending since 2013, Kim has earned an outstanding reputation as a selfless leader, team builder and a top performing branch manager. If you’re looking for a place to grow your career in an environment that recognizes achievement, contact Nic Hartke for more information.

A national lender is looking for a CTO to join our Rockstar team. The position calls for a leader who is an A Player. Must know how to run both Dev Teams, IT infrastructure for 500+ remote and local employees and be an Encompass Rockstar. We are a scrappy all-star organization, so Prima Donna’s need not apply. Must be willing to get your hands dirty, work within a reasonable budget, and hold your team accountable. Missing deadlines should be your pet peeve. Remote OK. Interested parties please contact Chrisman LLC’s Anjelica Nixt to forward your note.”

“New Year means New Opportunities! Universal Lending Depot is excited to announce the launch of a Wholesale Mortgage Platform. We will be going LIVE on 3/1/2023 and our sales team will be led by industry leader Tyler Ermisch, Director of Sales. ULD is looking for Inside Wholesale Account Executives to join us in our Phoenix, Arizona location. We are also looking for seasoned Outside Account Executives across the U.S. to help promote all agency products as well as Non-QM programs. If you’re looking to join a company that will be a household name in the coming years, email us for a confidential conversation to learn more about this exciting opportunity.”

Hey, mortgage sales professionals DO NOT join radius financial group for our amazing culture, president club trips, best workplace accolades, 100% 401K match or because of our shared success program which grants phantom stock to ALL employees. Join radius to grow your business, mortgage team and wealth. Over the past 23 years, radius has become the best at what we do by caring intensely about the career growth of our team members and investing in technology that simplifies and automates our process. We are a world-class customer obsessed team focused on our loan officers’ growth and success. So, if you want real opportunities to grow, the ability to make a positive impact starting on day one and the freedom to chart the career you’ve always wanted, at radius, you can! For confidential inquires please contact Carla Herrera.

The New Year might be the right time for a new opportunity. Sovereign Lending Group has been in business for over 17 years and ranked by INC. Magazine 5000 as one of the fastest growing companies 10 years in a row. SLG is consistently introducing new products like Solar and establishing partnerships with some of the biggest Credit Unions to ensure you have the competitive advantage. To learn more about SLG we invite you for a discreet conversation with Ed Vaccaro, Head of Retail (925-997-1846).

“At Fairway Independent Mortgage Corporation, customer service is a way of life. #FairwayNation mortgage loan officers are dedicated to finding great rates and loan options for our customers while offering some of the fastest turn times in the industry. Our goal is to act as a trusted mortgage advisor, providing highly personalized service and helping you through every step of the loan process, from application to closing and beyond.”

Atlanta-based Highland Mortgage continues to grow and is searching for branches and loan officers throughout the Southeast, Delaware, Arizona, and Colorado. Contact Mickey Schilling, CMB®, its VP of National Sales. Now in its fourth year, Fannie Mae-approved Highland Mortgage is well-positioned to expand its footprint nationwide under Mickey’s guidance. Here are Mickey’s top reasons why Highland is the right destination for you.

University Lending Group/University Bank has one of the Nation’s Top lending suite of tools and loan manufacturing processes. Originating in today’s challenging market, the “How” and the “What” should be most important to you and your customers. With the increase of recent mortgage company closures, M&A, Realtors and Borrowers require more confidence in their Loan Officer’s ability to deliver accurately and on time. University Lending Group offers the confidence and proven reliability of a Bank-owned organization with the flexibility of an independent mortgage banker. With a wide product selection, from Conventional, Government, Construction, Jumbo, to Bank Portfolio products, and everything in between, you can’t afford not to explore your options. While other organizations are retreating from the proverbial mortgage “Battlefield”, University Lending Group continues to grow. Let us help you! For a confidential conversation, please call Rory Ballard at 586-484-0500. “ULG is an Equal Opportunity/Affirmative Action Employer”

When you #LandAtPlanet, our mission is your mortgage career! Increase purchase volume with niche products targeting today’s market challenges. Bridge loans let borrowers buy while they live in and sell their current property. Cash 4 Homes gives buyers cash-offer power. Bank statement loans reach gig economy and self-employed workers. Construction loans give dream-home seekers one-time close. Manufactured housing and ADU home loans deliver affordability. Once you gain new customers, keep them for life. Planet retains the majority of our servicing and includes your name and image on monthly statements. Reach out to Planet’s VP Talent Acquisition Peter Briggs (435-709-6278) to find out more about working for Planet: a true partner to you in your mortgage career.”

Success is contagious at Caliber Home Loans and Newrez, where you can join a roster of seasoned veterans and proven winners. The numbers don’t lie: Together, we recently ranked fourth for Inside Mortgage Finance’s Top 50 Firms in Owned Mortgage Servicing for the fourth quarter of 2022. Not only that, but we are the only distributed Retail company to land in the top 15. With over 3 million servicing customers, we share existing customer leads with our retail loan officers… Is your company able to do the same? Don’t miss out on the opportunity to partner with us! To learn more about what we have to offer, contact Tina Jablonski.”

New Year means New Opportunities! Universal Lending Depot is excited to announce the launch of a Wholesale Mortgage Platform. We will be going LIVE on 3/1/2023 and our sales team will be led by industry leader Tyler Ermisch, Director of Sales. ULD is looking for Inside Wholesale Account Executives to join us in our Phoenix, Arizona location. We are also looking for seasoned Outside Account Executives across the US to help promote all agency products as well as Non-QM programs. If you’re looking to join a company that will be a household name in the coming years, email us for a confidential conversation to learn more about this exciting opportunity.

Frank Mancino, former RVP at Finance of America, has moved his team and +35 years in the industry to The Money Store. This move reflects his pursuit to plant solid roots in a company that can offer his team the resources and support The Money Store offers to continue to grow and succeed. These include direct underwriting to agency guides, a rockstar Operations team, great marketing and sales tools, flatline management and low rates, all to help grow their footprint in the Mid-Atlantic and Northeast. If you are interested in joining The Money Store, reach Frank Mancino to learn more.

“Looking to grow your purchase business and build agent relationships? If so, we have great news for you at Guaranteed Rate Affinity! We are in a year of opportunity for growth as we take our partnership with Coldwell Banker to another level in 2023. With instant access to over 50,000 agents nationwide along with our innovative platform, our loan officers thrive in purchase markets. If you’re looking to connect with thousands of agents in your market, this is the place for you! It’s a win-win scenario. Learn more about us today and email Tim or call (972) 236-9632 to start growing your business today!”

(Warning: adult language; no complaints please.)

Here’s a humorous (I think) tape of Gary Gulman explaining how the 2-letter state abbreviations came about. Expert abbreviators? Omelet stations? A wise-cracking sassy secretary named Dottie? The man who invented “can’t”?

Visit www.robchrisman.com for more information on our industry partners, access archived commentaries, or to subscribe to the Daily Mortgage News and Commentary. If you’re interested, visit my periodic blog at the STRATMOR Group web site. “Valuing a Lender” is the current blog. The Commentary’s podcast is live and at any place you obtain your podcasts (like Apple or Spotify).

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(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes visit LenderNews. This newsletter is for sophisticated mortgage professionals only. There are no paid endorsements by me. For up-to-date mortgage news visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.robchrisman.com. Copyright 2023 Chrisman LLC. All rights reserved. Occasional paid job & product listings do appear. This report or any portion hereof may not be reprinted, sold, or redistributed without the written consent of Rob Chrisman.)

 

Rob Chrisman