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How Many Loan Officers Leave The Mortgage Industry in 2023
Thousands of mortgage loan officers left the mortgage industry for good in 2023. Tens of thousands of loan officers have not renewed their mortgage loan origination licenses. The mortgage loan origination career have proven devastating to tens of thousands of loan officers. Just two years ago the average mortgage loan originator made hundreds of thousands of dollars a year and their career was very promising. Many mortgage loan originators were so successful they formed teams and ventured to a P and L mortgage Branch model with a larger mortgage lender or broker. Other mortgage loan originators opened their own mortgage broker companies. Here’s a credible recent article about how many loan officers are leaving the Mortgage Industry
The Mortgage Market Is So Bad Lenders Want Ex-Employees …
Wall Street Journal
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Over 50% of mortgage loan originators have left the mortgage industry. More loan officers are leaving the mortgage industry as rates are soaring and home prices are overly inflated and most buyers are priced out of the market. Many mortgage companies are closing and out of business.