Recruiting

Mortgage originators are still struggling with profitability, and getting their income and costs to pencil out could mean the company's survival.

While companies can use a variety of incentive programs and bonuses, businesses with staff longevity frequently rely on a more personal touch.

A lawsuit accuses the group of trespassing, damaging office space and taking digital and physical property from their former employer after their departure.

The lender claims its rival enticed workers with all-expenses paid recruiting trips, while another employee alleged a $125,000 signing bonus for workers who switched firms.

The lender earlier this year also filed a poaching suit against CrossCountry Mortgage.

Why several rivals are suing the mortgage lender, and why it may not matter

To meet the growing demand, banks are faced with a choice of hiring, reskilling or outsourcing.

Bank of America is keeping to its original hiring plans despite challenging economic conditions that have prompted others to pull back, Chief Executive Brian Moynihan said.

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.

Direct-to-consumer may not fare as well going forward if a purchase market prevails, and some cross-pollination between depositories and nonbanks could occur.