Hammerhouse Releases Results of Mortgage Lending Core Business Components Survey

Originators are positive but see opportunity for better business execution.

2012-09-20

MISSION VIEJO, CA, September 20, 2012 (Press-News.org) Hammerhouse, LLC, a leading national recruiting and strategic growth firm for the financial service industry with mortgage sales and leadership placement at its core, today released the results of its 2012 Loan Officer Core Business Components Survey. The online survey of several hundred current mortgage originators across the United States sought to ascertain their views on issues related to the Core Business Components of residential mortgage lending: Leadership, Culture, Business, Operations, Technology and Geography.
To view the full survey results please visit: http://www.teamhammerhouse.com/category/market-surveys/.

Key Positive Responses to Survey Questions

• 91% of professionals survey indicated that they were "born to" do their job or "love" their job
• 89% believe that compensation at their firm is "fair and compliant"
• 89% believe that their firms meet industry service standards
• 89% believe their firm's pricing is "consistent" and "competitive"
• 88% believe their firm consistently closes loans "on time"
• 88% believe the relationship is "excellent" or "acceptable" between originators, managers and leaders
• 85% believe that the reputation of their firm is "outstanding" or "good"

Key Responses Indicating Room for Improvement

• 32% of professionals surveyed believe that their firm's technology "needs an upgrade", is "inadequate", or "hurts my business".
• 28% of professionals surveyed believe that internal communications are "inconsistent", "muddled", "left open for individual interpretation" or essentially non-existent.
• 26% stated that their firms had "no" professional development program or were "on my own"
• 24% believe their firm leader's vision is "unclear"-"illogical"-"disconnected" or essentially non-existent.
• 24% believe that originators have "insignificant"-"very little" or "no" impact on operations at their firms.

"Lessons for the industry from this survey are clear. First and foremost, experience matters - whether we are talking sales professionals, operational personnel, managers or leaders, effectiveness and efficiency," commented Drew Waterhouse, Managing Director and CEO of Hammerhouse. "In addition, a primary take-away for lenders from this survey is that going forward the ability to execute on business fundamentals including vision, strategy, communications, professional development and support, while also leveraging new technology, will separate the best origination firms from the also-rans."

Hammerhouse will release its industry leading Third Annual Survey of Originator Opinions in January 2013. This statistically significant survey reaches out to mortgage loan originators' production professional for their opinions on critical issues facing the mortgage industry and impacting their job performance.

About Hammerhouse LLC
Hammerhouse LLC is an expanding national recruiting and strategic growth firm for the financial services industry with mortgage sales and leadership placement at its core. Founded in 2008, Hammerhouse partners with clients to source, attract, model match, hire and retain revenue-generating human capital at all levels of an organization---- from production to executive leadership. Through its unique model matching process, Hammerhouse helps mortgage bankers and depositories as well as private equity firms entering and expanding in the market, expand top line revenue by adding experienced mortgage professionals that focus on purchase business and have developed transferable relationships from referral partners and past customers. For more information on Hammerhouse LLC, please visit http://www.teamhammerhouse.com.

Media Contact:
Cara Hopkins
Director, Client Relations
Telephone: 949.655.0385 x129
Email: cara.hopkins@teamhammerhouse.net

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Hammerhouse Releases Results of Mortgage Lending Core Business Components Survey

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