Are you being recruited?

I've heard from a number of LOs that people are looking to make moves, generally because their pipe has slowed, and carpe diem.

Good afternoon! Was this newsletter forwarded to you? Sign up here. Hello, LOs!   Production and margins are ticking down for most publicly traded mortgage lenders, which usually prompts top mortgage executives to take a hard look at staffing and comp levels. It's the cyclicality of the business.    Similarly, a downturn also signals the beginning of poaching/job-hunting season for LOs, underwriters and processors who are ready to move on. Maybe they're entrepreneurial and see themselves as a better fit at a larger/smaller firm. Perhaps they want a new level of comp or wish to work with a former colleague again. Regardless, I've heard from a number of LOs that people are looking to make moves, generally because their pipe has slowed, and carpe diem.   Interestingly, I've heard that a few large broker shops have been recruiting heavily. And they're not simply recruiting from the usual retail shops – they're hunting for talent at similarly sized broker shops.    So, LOs, especially those in the broker channel, tell me: Have you seen an uptick in recruitment? Is your firm recruiting? Are you being hit up by other companies with offers to jump? And what's the etiquette around "poaching"? Please shoot me a message anonymously at jkleimann@housingwire.com.    Hope you have a great weekend!

James Kleimann

Managing Editor, HousingWire

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