Embrace Home Loans goes on a hiring spree

by Candyd Mendoza28 Jul 2020

Driven by recent loan volume growth, Embrace Home Loans doubled down on its efforts to add more loan officers, underwriters, and loan processors to its sales and support teams in three origination channels.

"We have been well-positioned to capitalize on the current origination market and have been able to expand our production volume considerably, even given some of the economic challenges that COVID-19 has brought on," Embrace CEO Dennis Hardiman said. "We have been measured in our growth and are well-diversified with three production channels to ensure that our growth is sustainable in changing markets. That is something we have done very well for over 37 years. As a result, we are proactively adding teammates to meet the business demand."

Embrace is actively hiring in three of its major business channels: retail, direct-to-consumer, and Financial Institutions Group, the company's partnership program for banks and financial institutions. Embrace intends to add the new recruits before the end of 2020.

The company is actively hiring retail loan officers in its current branch footprint along the East Coast. Embrace said that it is also considering opening branches in new markets in the East Coast.

For its direct-to-consumer channel, Embrace plans to hire around 20 mortgage loan associates and 10 loan officers to add to the current team in the company's headquarters location in Middletown, R.I.

Embrace is also looking to recruit more loan officers to its Financial Institutions Group mainly due to its new partnership with Ameriprise Financial. Through the partnership, Embrace will provide mortgage financing and services to the 2 million clients of Ameriprise's wealth management advisors.

The firm recently launched a six-month Mortgage Loan Associate program to educate new hires with no mortgage experience about the industry, as well as about Embrace's systems, compliance requirements, and sales process.

In addition to growing its sales teams, the lender is hiring operations staff to meet production demand. It is seeking branch-based processors, remote underwriters, and closers, who would be based in the Middletown headquarters.

"We nurture and develop talent by working with our employees to carve out a clear career path at Embrace," said Patrick Mullen, director of recruiting at Embrace Home Loans. "That is one of the reasons our employees stay with us for so long. The average tenure of our loan officers is just over seven years across all channels, compared to the industry average of approximately two years. At Embrace, we're firmly committed to our employees and provide them with the support and tools they need to succeed."

Embrace has hired 45 new employees over the last three months – bringing its team member count to over 650 across the US. Embrace is also planning a virtual recruiting event. To be notified of the event date, contact [email protected]