Recruiting

From volunteer trips to virtual costume parties, lenders are looking for new ways to boost employee wellness to keep their teams happy and healthy.

As the CFPB reconsiders LO comp rules, tech remains key to retention and performance, according to the Head of Customer Experience & Operations at Floify.

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.

Just to keep up with the growing demand for houses, 61,000 people need to be hired per month to cover attrition, the Home Builders Institute claimed.

Also, Roostify names new CTO, Elite Digital gets a new partner, and Mortgage Contracting announces leadership changes.

A cross-training strategy that hasn’t been widely used since the Great Recession is coming back into vogue among outsourcers.

Amid a wave of initial public offerings and acquisitions, originators with employee stock ownership plans say the underutilized company structure has helped with recruiting and retention in a competitive market.

Ocwen Financial, Interfirst Mortgage, Marcus & Millichap and others announce new leadership hires.

2020’s mortgage employment numbers proved to be slightly higher than previously estimated when reconciled with the Bureau of Labor Statistics’ annual business census.

Open Mortgage, Aces Quality Management, Verity Global Solutions, Cherry Creek Mortgage and InterLinc Mortgage Services all announced hirings and promotions.

Mortgage industry hiring and new job appointments for the week ending Jan. 22.