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The Mortgage Market Is So Bad Lenders Want Ex-Employees
The mortgage market has been in a state of turmoil for the past few years. Interest rates have been rising, home prices have been falling, and many lenders have been forced to lay off employees.
But now, there is a new twist in the story. Some lenders are so desperate for employees that they are offering incentives to ex-employees to come back.
Why Are Lenders Offering Incentives to Ex-Employees?
There are a few reasons why lenders are offering incentives to ex-employees.
- Experience: Ex-employees are more likely to have experience in the mortgage industry than new hires. This experience can be valuable to lenders who are trying to navigate a difficult market.
- Relationships: Ex-employees may have relationships with real estate agents, appraisers, and other professionals in the mortgage industry. These relationships can be helpful to lenders as they try to grow their business.
- Cost: It is cheaper to hire an ex-employee than to train a new hire. This is because ex-employees are already familiar with the company’s policies and procedures.
What Are the Incentives That Lenders Are Offering?
The incentives that lenders are offering to ex-employees vary depending on the company.
Some of the most common incentives include:
- Signing bonuses: Lenders may offer signing bonuses to ex-employees who agree to come back.
- Salary increases: Lenders may offer salary increases to ex-employees who have experience in the mortgage industry.
- Vacation time: Lenders may offer additional vacation time to ex-employees who come back.
- Flexible work hours: Lenders may offer flexible work hours to ex-employees who need to balance work and family.
Should You Consider Coming Back to Your Old Mortgage Company?
If you are a former mortgage employee who is considering coming back to your old company, there are a few things you should keep in mind.
First, you should make sure that you understand why the company is offering incentives to ex-employees. If the company is struggling financially, you may want to think twice about coming back.
Second, you should make sure that you are comfortable with the company’s culture and values. If you do not feel like you are a good fit for the company, you may want to consider looking for a job elsewhere.
Finally, you should make sure that you are getting a good deal. The incentives that you are being offered should be commensurate with your experience and skills.
Conclusion
The mortgage market is in a state of flux, and lenders are desperate for employees. If you are a former mortgage employee, you may be able to get a great deal on a job with your old company.
Of course, you should do your research before you make a decision. Make sure that you understand why the company is offering incentives to ex-employees, and make sure that you are comfortable with the company’s culture and values. If you are, then coming back to your old mortgage company may be a great option for you.
Are you interested in learning more about the mortgage market?
Frequently Asked Questions
Q: Why are lenders offering incentives to ex-employees?
A: Lenders are offering incentives to ex-employees because they are desperate for employees. Ex-employees are more likely to have experience in the mortgage industry, relationships with real estate agents, and other professionals in the mortgage industry, and it is cheaper to hire an ex-employee than to train a new hire.
Q: What are the incentives that lenders are offering?
A: The incentives that lenders are offering to ex-employees vary depending on the company, but some of the most common incentives include signing bonuses, salary increases, vacation time, and flexible work hours.
Q: What should you consider before coming back to your old mortgage company?
A: Before coming back to your old mortgage company, you should make sure that you understand why the company is offering incentives to ex-employees, you are comfortable with the company’s culture and values, and you are getting a good deal.
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