How mortgage firms can retain LOs in an ultra-competitive environment

Loan officers are switching firms, or returning to ones they know, at notable rates in today's tightening market.  

After surging during the pandemic amid a red-hot market, the number of active loan originators across the country appears to have plummeted, and plenty of those who remain are changing companies each year.  

In this environment, understanding what keeps top producers anchored - and what pulls them back - is more important than ever.  

Brad Rasof (pictured top) knows the mortgage industry inside out. After spending two and a half years at another lender, he recently returned to Rate, a company where he had previously spent more than a decade. His move highlights a broader trend among loan originators seeking alignment between performance tools and workplace culture.  

One of the best ways a mortgage company can retain its employees, according to Rasof? Creating a culture where “every department, from executive management to underwriting, is focused on supporting sales.” 

Culture and camaraderie make a difference  

For Rasof, the decision to return was influenced by more than operational ease.  

"I underestimated the value of culture," he said. "Having people around you with a similar mindset really matters.” 

Why top producers stay – or return  

Industry-wide, many top producers are re-evaluating what they need from a platform. According to Rasof, loan officers are drawn to companies that reduce friction.  

Creating a culture where business can be done more efficiently – with robust marketing tools, supportive leadership, and streamlined technology – is an essential step, he said.  “You're not on the phone 24/7. You can still have a life.” 

Clients want ease, transparency, and trust  

Technology has significantly changed the borrower experience. Document uploads, once handled manually, are now completed online by borrowers of all ages.  

"Everyone applies online now, whether they're 22 or 72. But that doesn’t mean it’s impersonal," said Rasof. "You still have to provide reassurance and set expectations early."  

He compared the experience to working with a tax advisor. "Sure, you could do it yourself. But people want someone they trust guiding them through complex decisions."  

Automation is coming, but people still matter  

Rasof sees further automation ahead, particularly in back-end roles like processing and underwriting. Still, he believes personal touch will remain critical.  

"Processors and closers are the unsung heroes," he said. "Automation will play a bigger role, but the human element isn’t going away. Clients need someone steady during a high-stress process."  

Buying remains a smart move – if you’re ready  

Despite higher interest rates and constrained inventory, Rasof encourages buyers to act when conditions align.  

"Everyone's waiting for rates to drop, but when they do, demand will spike," he said. "Sometimes, buying now makes more financial sense than waiting."  

He emphasizes the long-term value of homeownership. "Renting won’t build equity. Owning helps build wealth and community."  

Rasof advises clients to focus less on timing the market and more on readiness. "If you’re financially prepared, don’t let the pursuit of the perfect rate keep you from a sound decision."  

As the mortgage landscape evolves, professionals are reassessing where they can thrive – and in many cases, rediscovering the value of platforms they once called home.