Mortgage automation platform, Floify, announced the results of an industry-wide study on loan officer recruitment and retention. The study solicited over 13,000 mortgage originators, specifically loan officers, branch managers, and area sales managers. The analysis focused on LO’s with an annual loan volume of $21 million or more in order to distinguish the needs and priorities of “high-achieving” loan officers. Mortgage industry professionals can download the full study for details.
The report reveals insight about what capabilities loan officers look for in a lender, how they rank those capabilities, and how long they give a lender to deliver on those capabilities before leaving (68% of loan officers give lenders less than a year). High-performance loan officers rank the importance of technology, compensation, culture, training, product diversity, and marketing and share their level of satisfaction with their current company.
Date: December 2016