US Residential Mortgage Banking COMPENSATION SURVEY
2015 KEY DATES SURVEY REPORT Access to Roundtable McLagan participates January-March Our survey report provides key data on in and presents key talent and rewards Survey Launch professionals across the major functions / trends as part of the Roundtable at no extra Matching Calls areas within the Mortgage Banking charge. Many clients use this meeting as a industry by collecting data on a granular networking event to collaborate with fellow Data Collection Sheets Distributed incumbent level basis. mortgage banking colleagues. April 24 Data Collection Due Survey elements include: Confidentiality Reports are presented in a . Base Salary . Commissions way that ensures that data on individual May-July . Cash Bonus . Bonus % of Salary companies cannot be identified; and are Data Cleaning / Questions . Total Cash . Number of Loans distributed only to participating . Overtime . Loan Production August organizations, each of which signs a . Total . Compensation as Survey Results Delivered reciprocal Services Agreement with McLagan. Compensation % of Loan Volume September . Long Term / CONSULTING & ADVISORY MBA HR Symposium Deferred Awards McLagan is the leading Performance / Reward consulting and benchmarking firm September-December The report includes various employee for the financial services industry. Established Reviewing Survey Results with and firm scoping factors: in 1967, McLagan’s financial services industry Participants . Geographic . Production focus allows us to provide clients with a Region Volume Select Cut Requests wealth of relevant fact-based knowledge and . # of Employees . Servicing extensive hands-on experience supported by Market Practice Studies . Revenue Size Portfolio Size proprietary compensation and market data. BENEFITS We place experienced consultants on every Benchmarking Support McLagan is project to ensure the highest level of quality, available for guidance in matching your professionalism and service. Our consulting employees to the US Residential Mortgage approach is customized by project and survey structure. integrated with our clients' internal resources and business goals. Incumbent-by-Incumbent Analysis CONTACT INFORMATION Customized analyses comparing each of Our consulting capabilities include functional Calvin Croskey your surveyed employees’ pay levels to benchmarking, pay and performance [email protected] the competitive market. analysis, incentive plan review and design, 203 602 1277 cost to market analysis and custom market Productivity Breakout The survey Robert Northway practice studies. provides productivity data (i.e., [email protected] personal/managed production and basis 203 602 1234 point payouts). Limited to Sales and Fulfillment roles within the Executive www.mclagan.com Management and Production Survey. US Residential Mortgage Banking COMPENSATION SURVEY
SURVEY REPORT COVEREAGE Our survey benchmarks compensation for key positions in the industry: EXECUTIVE MANAGEMENT & PRODUCTION ADMINISTRATION ABA / Joint Venture FHA / VA Origination Secondary / Capital Markets Management Affordable Lending Loan Securitization Secondary / Capital Markets Support Appraisal Operations Securitized Products Research Asset Sales Overall Origination Management Strategic Planning & Development Business Development Officer Portfolio Management Telemarketing / Consumer Direct Construction Loan Origination Pricing Trading Corporate Relocation Private Mortgage Banker Underwriting Correspondent / Whole Loan Acquisition Quantitative Analysis Validation Documentation / Negotiation Retail Warehouse Lending Executive Management Sales Satellite Wholesale
LOAN SERVICING / LOAN ADMINISTRATION Bankruptcy Escrow & Tax Services Loss Mitigation Business Development Officer Executive Management Operations Capacity Planning & Forecasting Inspection Portfolio Retention Sales Collections – All Stages Investor Relations Real Estate Owned (REO) Customer Service Loan Workout Special Servicing
CORPORATE ADMINISTRATION & SUPPORT Centralized Vendor Mgmt. Information Technology Office Services Compliance / Quality Control Internal Audit Project Management Finance Legal Risk Management Human Resources Marketing & Communications Support Staff
2014 PARTICIPANTS Accenture City National Bank Home State Bank NVR Mortgage Inc. State Farm Insurance Aegon Asset Management Cole Taylor Bank HSBC Bank Ohio Savings Bank Steams Lending Ally Financial Comerica Huntington Bancshares One West Bank Stonegate Mortgage Ameripro Funding Draper and Kramer imortgage Patriot Bank – TX SunTrust Bank Arvest Eagle Bancorp Inc. - MD Impac Companies PHH Mortgage Synovus Astoria Federal Savings Elevations Credit Union JMAC Lending Inc. Pine River Capital Management TD Securities Bank of America Enterprise Community Partners Johnson Financial Group, Inc. Planet Financial Group, LLC. Texas Capital Bank Bank of Montreal EverBank JP Morgan Chase Plaza Home Mortgage The Private Bank Bank of the West Fannie Mae KeyCorp PNC Bank TIAA – CREF Bank of Tokyo Fifth Third Bank Kinecta Federal Credit Union Prime Lending Toll Brothers, Inc. BB&T First Financial Bancorp Lake Area Bank Prospect Mortgage U.S. Bancorp BBVA Compass First Niagara Loan Depot Pulte Homes, Inc. USAA Bethpage FCU First Technology Credit Union Loan Pacific Quicken Loans VyStar Credit Union BOK Financial Corporation First United Bank & Trust M&T Bank Radian Guaranty Inc. Webster Bank Caliber Funding FNB Omaha Mortgage Investors Group Raymond James & Associates Wells Fargo Capital One Franklin American Mortgage Mutual of Omaha RBS / Citizens Bank Wintrust Mortgage Carrington Mortgage Freddie Mac National Bank and Trust Realogy Holdings Zions Bancorporation Cenlar GE Capital National Cooperative Bank Redwood Trust Centier Bank Genpact Nationstar Mortgage LLC. Regions Financial Corporation Charles Schwab & Co. Greater Nevada Credit Union Nationwide Insurance RPM Mortgage Citigroup Green Tree Credit Solutions Nola Lending Group Sovereign Bank www.mclagan.com US Residential Mortgage Banking COMPENSATION SURVEY
PARTICIPATION FORM The firm designated below agrees to participate in and purchase the 2015 Residential Mortgage Banking Compensation Survey(s). All McLagan products are for internal use only and a signed mutual Non-disclosure Agreement must be received prior to delivery of the results. All data is treated as confidential and reported only in aggregate form for the market data. PARTICIPATION FEES Please check each of the product(s) that your firm will be participating in and subsequently purchasing for the 2015 survey program. Please check the appropriate product fee based on your firm’s MBA membership status. The 2014 edition of the survey is available for purchase with a commitment to participate in the 2015 survey. McLagan will bill half of the 2015 participation fees in advance in addition to the 2014 survey fee, for those firms that purchase survey.
2016 EARLY REGISTRATION If your firm would like to sign up early to participate in and subsequently purchase the mortgage banking surveys for the 2016 survey program, please contact Calvin Croskey at [email protected] for information and fees.
2015 Participation
Product MBA Members* Non- Members
Executive Management & Production Administration Survey (MOU) $2,100 $3,100 Loan Servicing / Loan Administration Survey (MSU) $2,100 $3,100 Corporate Administration & Support Survey (MCU) $1,850 $2,850 Select Cut Reports (per select cut) $1,000 $1,250
2015 McLagan Mortgage Banking Market Practice Studies (Call for more info) TBD
MBA Human Resources Symposium (For more info go to www.mbaa.org) MBA Charge
*Please note that McLagan will confirm membership with the MBA. PARTICIPATION AGREEMENT PRIMARY DATA CONTACT The individual identified below will act as the primary data contact for completion of all survey, study or analysis information and has the authority to release all necessary data to McLagan. In addition, this individual will be responsible for returning a fully executed Non-Disclosure Agreement with McLagan prior to the release of any survey results.
Name: Title:
Company:
Address:
City: State: Zip:
Email: Phone:
BILLING CONTACT (if different from Primary Data Contact) Name: Title:
Company:
Address:
City: State: Zip:
Email: Phone:
Signature: Please sign and fax this form to 203-323-9851 or email PDF form to [email protected] Thank You. www.mclagan.com