Quick Placement of Mortgage Processing Professionals to Meet Customer Loan Application Demand
Executive Summary
A full-service mortgage banking firm required additional staff to efficiently process a surge in mortgage loan applications as a result of lowered interest rates.
The Challenge: Identifying many candidates quickly
One of the largest, privately owned mortgage companies in the U.S. was experiencing a surge in loan refinancing applications due to a drop in interest rates to record low levels. The surge in applications was overwhelming for existing staff, leaving the company with a backlog of loans in need of processing. The company needed to find a partner to help source, vet, and hire additional loan processors, closers, purchase reviewers, underwriters, and more to keep up with customer demand.
The Solution: Quick and thorough search for qualified candidates
With a holistic understanding of current market conditions, The Judge Group anticipated the staffing needs of the company. Prior to the first meeting, Judge’s recruiters searched their proprietary candidate database and identified qualified mortgage processing professionals ready for work. Judge assembled a formal plan to meet the company’s needs during a time when mortgage loan processing professionals were in high demand, but in low supply. This included mapping out the number of candidates sourced to ensure a target number of interviews, to ultimately reach the hiring goal. After meeting with the company to better understand their hiring process, culture, and ideal candidates, Judge acted quickly to present the best candidates. Judge’s experience with bulk hiring and quick turnaround, as well as their comprehensive solution, gave the company confidence in Judge’s ability to execute effectively.
The Result: Over 100 new hires in a month
The Judge Group delivered on identifying a combination of permanent and temporary candidates to fill the roles. Additionally, Judge created a new contract processing and closing team for the company’s retail lending operations, which was a first for the mortgage company. Judge held kickoff meetings with the company first, then the contractors, which proved instrumental to the success of the project. Within a month’s time, Judge delivered over 100 candidates. A regular reporting structure to track progress was developed and reviewed with the company on a weekly basis. Additionally, Judge scheduled meetings and calls at set intervals with the company’s internal recruiter team to ensure all goals and objectives were met.
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