LendKey, a lending platform that offers home equity loans and other products, has originated over $2.6 billion in loans in 2018 working with lenders. LendKey's turnkey solution provides banks and credit unions with a state-of-the-art platform to offer digital loans.

"Reaching the $2.6 billion milestone is a validation of LendKey's position as a trusted partner for financial institutions to expand their digital lending offerings and grow revenue and their asset portfolios," said Vince Passione, CEO and founder of LendKey.

Also, America First Credit Union, one of the nation's largest credit unions serving over one million members, has become a lending partners, one of 18 new lenders who started using the LendKey platform last year.

"Our partnership with LendKey is a testament to our commitment to provide our members with a seamless digital borrowing experience and the loans they need," said Rich Syme, Executive Vice President of America First Credit Union. "We value this new partnership and look forward to expanding our portfolio with a recognized industry leader in digital lending solutions."

Highlights for 2018 included record loan origination volume for LendKey's lending partners include a 26% increase in revenue. An appetite for automation has led banks and credit unions to offer a digital lending experience to consumers.

Ask the Expert: Dave Hershman

 Focus on Management: Practical Recruitment Tips for Managers 

[caption id="attachment_9654" align="alignright" width="268"] Dave Hershman[/caption]

Q: It has become increasing difficult to fill loan originator positions with experienced hires who easily acclimate themselves to the office. I am thinking about bringing new people into the industry and going after those who are not as experienced as well, but I don’t know how to assess them.

Do you have any recruitment advice?  Ann from Vienna, Va.

Hershman: Our industry has never had had a definitive path for people to join the mortgage industry. No one goes to school to become a mortgage banker or loan officer. In the past, those who have wandered into the industry were likely to come from a related field or had some sort of personal connection--family, vendors, and so forth.

Our recruitment strategies need to become more sophisticated. While most mortgage companies don’t put signs on telephone poles, cold call or advertise for positions, too often the strategy won’t yield the types of candidates the firm is looking for.

After all, experienced and productive loan officer aren’t looking at ads to find a job, especially with recruiters working the phones every day. Likewise, those who can’t find a job are likely to respond to ads for entering the industry. Either way, we aren’t attracting the elite candidates we need to lead our industry in the future.

To improve the chances of recruiting ideal candidates, people who will fit well with the company’s culture, follow some practical guidelines:

• Instead of experience, ask about accomplishments.
• Instead of education, ask about specific skills, and
• Instead of salary or compensation requirements, ask for monetary objects and how they see themselves getting to that point.

Thanks for the question, Ann.

About the Author: Dave Hershman is a VP of Sales for Weichert Financial Services and founder or OriginationPro (www.OriginationPro.com), providing marketing content and training programs for the industry.  Email him with questions or comments at This email address is being protected from spambots. You need JavaScript enabled to view it.

Angel Oak has increased its originations of non-qualified mortgages to $2.2 billion in 2018, from $1.1 billion in 2017, increased headcount by 53 percent to 648 people, and completed four mortgage securitizations totaling $1.1 billion.

“In 2018, our lending units saw a distinct rise in the popularity and use of non-QM products as more creditworthy borrowers turned to these innovative options,” said Michael Fierman, managing partner and co-CEO of Angel Oak. “We’ve reached an inflection point for non-QM products, and the industry across the country now sees the strong demand for our products.”

Other highlights from the Angel Oak’s 2018 are as follows:

• Originated over $2.2 billion in non-QM loans, a 118 percent rise on a year-over-year basis. The lending companies reported a 121 percent increase in the fourth quarter of 2018, compared with the same time period in the previous year.
• Launched Angel Oak Commercial Lending LLC, which provides financing to commercial real estate owners, developers and investors. Also, it acquired a controlling interest in Cherrywood Mortgage, a small-balance lender based in California.
• Expanded the Angel Oak Mortgage Solutions unit into four new states, while Angel Oak Home Loans added 18 new branches in four new states.
• Achieved approximately $9 billion in assets under management through public funds, private funds and separately managed accounts--a 12 percent gain over the previous year.
• Issued four securitizations totaling over $1.1 billion, three of which were almost 100 percent non-qualified mortgages issued through affiliated lending companies.
• Raised $291 million in capital commitments for its first private credit fund that invests in non-qualified mortgages.

“The Angel Oak team has been at the forefront of the mortgage industry’s post-crisis growth and we are proud to be one of the largest non-QM lenders and a leader in non-QM securitizations,” said Fierman.

Affiliates of Angel Oak are Angel Oak Capital Advisors as well as Angel Oak Mortgage Solutions, Angel Oak Home Loans, Angel Oak Commercial Lending and Angel Oak Prime Bridge.