Who makes the hiring decisions in the mortgage industry?

by MPA07 Oct 2016

On the October 3 episode of my Lykken on Lending podcast, we had the opportunity to interview Matt Strabo of Transformational Mortgage Solutions on the subject of recruitment. While we covered many different topics throughout our conversation, Matt said one thing that I found rather interesting. In most organizations, it seems, the person making the hiring decision for any given position isn't the person who really understands the requirements of the position.

As with other industries, organizations in the mortgage business have human resources departments that handle issues related to employees -- including recruitment, hiring, and on-boarding. Of course, HR does play a vital role in recruiting that management cannot play. They know where to find the best employees, and they know the right questions to ask in an interview when it comes to certain "soft skills" However, when it comes down to the technical nature from work, some collaboration with management would be useful.

Only the managers of the departments in your company know the specific skills required to do the jobs in those departments. Loan originators require specific skill sets, as do people working in compliance. When it comes to these sorts of skills, the best people to find employees for the department are typically the people who are running the department.

Most mortgage organizations would benefit from a more hands-on approach from departmental managers during the recruiting process. It's not just something we can "outsource" to HR. If we want the most qualified people doing the work, then we've got to be the ones who help bring them in.


Should CFPB have more supervision over credit agencies?