Thursday, August 6, 2009

Needing a Recruiter for a Mortgage Originator? Housing must be rebounding.

In this anemic economy can you imagine needing to retain an executive recruiting firm to hire a Mortgage Originator?  We're not the only Indianapolis search firm that must be receiving these calls.  

Well, the housing market has been rebounding and all the reports we've heard from banks are that the mortgage applications are flowing in.  The 30 year mortgage rose slightly to 4.91 percent this week.  While there is some concern that the US government won't be able to cover it's multi-trillion debts, the treasury market is moving for now.

According to one local regional bank EVP of Mortgage origination volume has actually been growing steadily since November.  Now the volume is pushing organizations to have to add to staff.  But, positions will likely only be added in Origination since Underwriting, Processing, and Servicing have all been centralized (outside of Indiana) by major lenders.

It's a good sign that mortgage volume is up again.  According to an area realtor, in one Fishers subdivision, four homes listed all sold recently within 45 days out of a 142 home neighborhood.

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