Over half of the mortgage originators surveyed by Hammerhouse LLC said the No. 1 issue facing them in 2012 is further oversight or regulation for the industry. The Mission Viejo, Calif.-based recruiting company released results from its second annual Survey of Originator Opinions.
Fewer than three in 10 said the biggest challenge would be working with a committed and financially stable mortgage lender, while just 12% said it was product flexibility and 8% cited rising rates.
When asked "What size of organization would be the best fit for you?" regional mortgage banker topped the list at 47%, followed by large national mortgage banker at 24%, regional bank at 15%, mortgage broker at 7%, large national bank at 6% and credit union, 1%.
Just under one quarter of the respondents said they were not licensed, with 14% of those stating they had no interest in getting licensed. Originators who work at depositories are exempt from licensing.
More than half of the respondents said the new compensation rule has not impacted their competitive standing. But 37% felt it decreased their competitive standing while 12% believed the rule increased their standing.
