Survey: Originators Dread More Regulatory Oversight

Posted by Orb Staff on January 18, 2012 No Comments
Categories : Residential Mortgage

10737_blurrydollar Survey: Originators Dread More Regulatory Oversight Mortgage loan originators believe that increased regulatory oversight and legislation will be the greatest problem facing the industry in 2012, according to a new survey released by Hammerhouse LLC, a Mission Viejo, Calif.-based recruiting and strategic growth firm for the financial services industry.

In a poll of approximately 400 originators, 51% felt that increased regulatory oversight and legislation will be the industry's biggest challenge this year, while 29% of respondents said ‘working with a committed and financially stable mortgage lender’ was the greatest concern. The lack of product flexibility was cited by 12% of respondents, while rising interest rates were cited by 8%.

Focusing internally, 39% of originators said their corporate fulfillment, operations and service components required strengthening or change, while 30% desired better marketing platforms and continuity, 19% wanted improved integration of their technology systems and 12% wished for ‘stronger leadership.’

‘Mortgage loan originators have had a difficult couple of years,’ says Drew Waterhouse, managing director of Hammerhouse LLC. ‘The housing crisis and regulatory responses have led to a 50 percent decline in the ranks of originators according to the U.S. Bureau of Labor Statistics. However, those that remain are focused on rebuilding the mortgage industry to make it the best it can be by demanding that lenders are executing effectively for consumers.’

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