SALES RECRUITING 2020: The Impact of Technology

The following is an excerpt from Chapter 16 of Volume I of The Mortgage Professional's Handbook.


Hiring Right in the New World of Loan Origination

by Pat Sherlock, President, QFS Sales Solution

The Impact of Technology on Recruiting

Finding quality sales professionals will cause a shift in how a mortgage company looks for talent, how they determine who they will hire, and ultimately what the sales organization will look like. To find Individuals with the talent and ability to prospect and engage new customers, companies will need to conduct a wider search across non-mortgage industries and educational institutions. The mortgage industry’s emphasis on mortgage experience will be replaced, simply because the current sales force is retiring and there will not be enough experienced originators to fill the need of a growing sales organization.

 A broader search or casting a wider net will require a change in the recruiting, screening, and interviewing process. Many companies are already beginning to engage specialist recruiters to fill positions, a trend that will continue. Relying on field managers to be the primary source of originators might have worked when the industry did not need quality originators, but will not work now. Successful recruiting is not a part time function delivered by field managers who are involved with many other activities, including generating their own production. There is not enough time in the day to expect that such a critical function as hiring can be done effectively by producing managers. Using staffing agencies as a supplement to recruiting efforts work on a selective basis, but not as primary driver of a company’s talent strategy. So what should recruiting look like?

The solution lies in a company’s staffing internal hiring specialists who are supported by digital technology, with field managers involved in the interviewing and decision process when selecting a candidate. With a more dedicated process, a digital hiring model is needed to find and screen because the candidate pool will need to expand to include individuals without prior mortgage industry experience. Local field managers might know whom they compete with today in their respective markets, but they will not know the non-experienced individuals who may be a match for mortgage origination. Likewise, the search for non-experienced individuals is simply beyond the scope of the local manager’s expertise. The new universe of potential candidates will be large and require an automated method to filter out those who are not a match for selling.

I believe that the entire hiring process—from resume to the interview—will become more digital. The paper resume has already been replaced with LinkedIn profiles that reflect individual experiences and abilities. A recruiting specialist will tap into a collection of data regarding a candidate before making an initial contact. Facebook and Twitter provide social profiles that give insight as to whether the candidate is a good fit. A lack of candidate profile information will also be a glaring sign that the candidate is deficient in social media skills and not appropriate for a Selling 2.0 world. Finally, big data will touch all parts of the interviewing process and data analytics will be used by recruiters to discover which passive candidates are better to approach than others.

The next change in the screening process is in how the interview sequence is conducted. The first-round phone interview will be replaced with the more high-tech video interview. Skype-like products with web-cam capabilities have improved dramatically and will be used on the recruiting side of the hiring equation to conduct interviews and to evaluate selling talent. Video interview systems can be programmed as one-way videos where the candidates answer a specific set of questions that the recruiter can then screen on an on-demand basis. This will be especially helpful screening large pools of candidates.

The last part of the recruiting process that will change is a wider usage of algorithms or assessments to predict candidate success. Assessments, while not new, will become a critical hiring component for all mortgage companies hiring that want to be successful in their candidate selections.

Read the rest of this chapter in The Mortgage Professional's Handbook!

Pat Sherlock is Founder and President of QFS Sales Solutions, a sales consulting firm which helps mortgage banking companies increase their sales production through its state of the art assessments and training solutions. QFS is recognized as a leader in proprietary hiring and development assessments for all mortgage related positions including managers, originators and processors and customized innovative training programs including rookie originator programs.

QFS clients are many of the top firms in the 2014 J.D. Power Primary Mortgage Origination Satisfaction Study, including the top bank for the last five years. Her clients have out-performed their industry peers on average by 30% in critical sales ratios.

Pat has had a long career in mortgage banking with positions in capital markets and operations to national sales. She managed at General Electric Capital Corp., Maryland National Bank, Advanta Corp. and others.

Pat is a frequent speaker at sales conferences and kickoff meetings and has written numerous articles for industry publications including the MBA Magazine. She authored Reaching the Top of Your Game — a best-selling book on the best sales practices of top producers.

Visit for her blog, podcasts, and other resources. To listen to her weekly sales radio program go to