Recruitment and Training
It's not the best time to be looking for work in the mortgage industry, unless you happen to be one of those people who have been around long enough to remember the last real estate downturn. People with experience in loss mitigation, default management, repayment plans, modifications and workouts are not having any trouble finding jobs today. The same is true for people who specialize in the preservation and marketing of real estate-owned, or foreclosed property.
And that is changing the landscape for the recruitment and training of mortgage professionals. Many people who have a background in the loan origination business are seeking to expand their credentials to encompass loan management and loss mitigation. And institutions that provide training, most notably CampusMBA, the educational wing of the mortgage bankers association, are expanding their classroom and online offerings to include more loan servicing topics.
But default management isn't the only issue the industry's employers need to worry about. In September, CampusMBA convened a meeting in Washington to talk about "human capital management," including issues such as incentive plans and compensation trends. In October, it's back to basics though, with an executive education program focused on loss mitigation strategies timed to coincide with the MBA's upcoming annual convention in San Francisco.
And if you don't find out enough about loss mit during this training program or the convention itself, First American Default Technologies has scheduled its own default technology conference for Oct. 22-24 in Tampa. (c) 2008 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/