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Don’t Quit on Your Mortgage Sales Career Because Interest Rates Are Rising!

Are rising mortgage rates causing you to question whether you want to stay in the business? Switching careers may sound exciting; however, this is not simple and can be financially dangerous. Very few worthwhile accomplishments in life are easy. A successful career in the mortgage sales management and origination field takes a lot of passion, sacrifice, and hard work.

Yes, there are other challenges for mortgage sales professionals besides rates rising such as inventory issues, margin compression, outside competition, rising home prices, and technology. However, the economy and the purchase market are still strong. Plus, rising home values bring less restrictive underwriting guidelines, additional products, and cash out/debt consolidation refinance opportunities.

Understand that the mortgage business is cyclical. If you were in the business and can remember 2007-2010, those years were extremely challenging. Nevertheless, most individuals and companies who stayed focused and weathered the storm had an excellent run from 2011 to 2018. Unfortunately, many companies and individuals left the business, only to come back when the market rebounded over the past number of years.

Leaving a sales management or origination position and coming back when the market improves is difficult financially and emotionally. Some of those challenges are:

  • Starting over to build a referral-based business takes time and will cost you a lot of money.

  • Accepting a position that you feel over-qualified for.

  • Accepting compensation that you feel is less than you deserve.

  • Your previous team/colleagues have moved on and won’t transition with you to a new opportunity.

  • Seeing others having more success than you who are less experienced.

  • Ability to negotiate an excellent career opportunity is less likely.

As a mortgage recruiting firm, when we hear statements like; “I’m thinking about getting out of the business” or “I’m burned out of originating” we become cautious of the individual. This is a terrible declaration, as it shows no commitment, passion for the business, and many times, a lack of work ethic. These individuals are a huge risk to an employer/mortgage company. We respect that this business is stressful and if you need to get out for medical reasons, that is understandable. However, if you are trying to find an “easier” job, maybe the mortgage industry isn’t right for you.

If this is your career, understand your income may go down temporarily. Remember why you entered the field, the families you help, the income potential, and the work-life balance you can enjoy. You may want to start your own company or find a company with excellent operations, coaching, products, competitive pricing and compensation, training, support, technology and culture. The work you do in the next few years will set you up for a long successful career. The strongest originators and companies grow their business in down markets so they can thrive when the markets turn more positive. Maintain an upbeat attitude and grind through the tough times as persistence and dedication lead to an amazingly rewarding career.

Loan Academy is an independent mortgage recruiting and consulting company. We specialize in connecting exceptional managers and loan officers with leading mortgage companies that maintain a culture of excellence, trust, and transparency.

If you would like to confidentially explore a better career opportunity, visit our website at or contact Jeff Flees today at 877-721-4822 or

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