Nearly 60% of originators surveyed in the 2012 Loan Originator Survey from Mortgage Daily stated they make at least $100,000 per year.
Many of those who took the survey claimed they would make more if it weren’t for the Dodd-Frank act, while a small share actually revealed a profit from the law.
The survey revealed that most originators stay with the same employer for several years, and few found their jobs via traditional job search methods.
Most originators admitted to spending much of their advertising dollars online, aggressively using social media in their marketing plans.
Surprisingly, the majority of originators are Microsoft users, though in regards to mobile devices, they utilized Apple products. One of the biggest “sore spots” for originators is the appraisal process. Many originators are hit with a double-whammy due to cumbersome appraisal-ordering requirements and lost deals to low values.
"It is imperative as an AMC that we understand the pulse of the market," said Tom Hurst, president StreetLinks, who sponsored the survey. "This survey functions as a great litmus test when gauging the direct feedback we receive from our clients. Communication and feedback is the key to developing real partnerships."