Longbridge’s Approach to Recruiting and Hiring in the Reverse Mortgage Industry
Longbridge, a leader in the reverse mortgage industry, has been making waves with its strategic approach to recruiting and hiring. With a current headcount of 477 employees, the company has seen significant growth in the past year, with over 40 internal promotions and more than 90 external hires, resulting in a 12% increase in staff.
Despite the historical trend of recruiting from within the industry, Longbridge recognizes the need to diversify its talent pool to keep up with the evolving landscape of reverse mortgages. Melissa Macerato, a key figure at Longbridge, emphasizes the importance of investing in people and implementing training programs to nurture new talent.
While experienced individuals are valuable assets, Longbridge also values bringing in fresh perspectives. By recruiting individuals from various backgrounds, such as sales or other industries, Longbridge aims to create a dynamic team that can drive innovation and efficiency.
Training plays a crucial role in Longbridge’s hiring strategy, with a focus on mentoring and developing individuals at all levels. From unlicensed concierge service representatives to licensed loan officers, Longbridge provides a structured training process to ensure that employees are equipped to succeed in the reverse mortgage market.
Transitioning from the forward mortgage industry to reverse mortgages may pose challenges, particularly in understanding the unique features of the product. However, Longbridge is committed to providing the necessary training and support to help employees make a smooth transition.
As technology continues to shape the industry, Longbridge recognizes the importance of embracing AI and leveraging technology to enhance operations. By empowering employees to adapt to technological advancements, Longbridge aims to stay ahead of the competition and drive innovation within the industry.
Looking ahead, Longbridge anticipates a need for industry-wide growth and recruitment of new talent to meet the demands of the evolving market. By partnering with colleges and universities to attract younger individuals to the industry, Longbridge is committed to fostering a new generation of reverse mortgage professionals.