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Walkowiak noted that there are still demands for mortgage professionals. However, now that companies are downsizing and trimming their workforce, job openings have become scarce, and salary demands have changed.
“There are not enough jobs, but the interest is still there,” she said. “During the onset of the pandemic, three to four months in, the business picked up. However, with the interest rate going up and people getting laid off, the salary demands are back to pre-pandemic wages. Maybe a little less for some people.”
Amid the hiring lull, Walkowiak advises employers to onboard experienced people. “Even if the volume is not there as far as loans, there are people available that were laid off, and it’s the best time to get them.”
Read more: What are mortgage companies thinking about staffing for the rest of 2022?
“I see it going in a different direction, not so much on the production side,” Walkowiak said. “I see foreclosures happening. Mortgage services will be busy. Foreclosure lawyers will be busy. I see employers hiring temp workers vs. permanent employees.”
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