Posted To: Pipeline Press

Clients want LOs to be subject matter experts on products and current events. But what do lenders know about their LOs, their originator turnover rate, or what the age bracket is of the highest producing originators? More originators change jobs in the fourth quarter than any other quarter, about 36 percent. Of that 36 percent, of those who reported a reason, 78 percent reported leaving voluntarily. The first quarter is the lowest for changing jobs with about 14 percent leaving. According to STRATMOR’s Originator Census® Study, the originator turnover rate in the Retail channel was 35 percent in 2018; the 35-40 age bracket is the highest producing originator group and has a tenure of 2.6 years. And originators with less than five years’ tenure did a higher percent of purchase business…(read more)

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Source: Mortgage News Daily