Nonbank Mortgage Sector Sees Increase in Hiring


Mortgage professionals who are looking to break away from banks could have a shot as a recent report shows an increase in hiring for the nonbank mortgage sector. Though, there is still concern around just how long this will last.

"Nonbank mortgage lenders and brokers hired 2,700 full-time employees in December, according to the Bureau of Labor Statistics," reported National Mortgage News.

"Employment in the nonbank mortgage sector totaled 341,500 in December, up from 338,800 full-time employees in the previous month."

There is a forecasted increase in home sales with fewer refinance originations for the rest of 2018, according to the report. This makes it a bit unclear whether lenders will take the route of adding personnel to handle the increase or do most of the hiring early on in the year, with cuts to come later on.

To learn more about the recent spike in hiring in the nonbank mortgage sector click on the image above.

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