This may not be the most popular analysis of the mortgage industry, but this post I found in a forum maybe on reason for some of the problems in our industry...

Back to school for a degree in health-care and NEVER EVER looking back at a Mortgage Industry job again!!!
I just can't deal with it anymore, too much crap to put up with and stress. And the rewards are few and far between for the operations people. The only ones making the big bucks are the managers and AE's.
It's about time I got a REAL career anyways, a job that requires to just have a High School Diploma is not going to get me anywhere.

Back in the middle of last year our MIT office had a meeting with that Gary guy, (forgot his last name, real a-hole). One of the girls from UW asked if we were getting a Tuition Reimbursement program as part of the acquisition package from DB. His answer was: "We dont require you to have a degree to do your job, so I don't see why we should be paying you to get an Accounting degree and go work for somebody else." 

Direct Link 

As you can see, the attitude permeates the underwriting staffs, the processors, and more importantly you can tell that most wholesale managers and executives could care less in regards to retention and employee education.  Is it even a wonder why there are so many problems with the mortgage industry.  In the 10 plus years I've originated I've noticed a serious deterioration in the quality of wholesale underwriting.  People have become lazy, disorganized, and now with instant underwriting decisions that are made for you by a computer program, the time and money has been spent on account executives instead of developing competent and trained back end staffs.

How much has this cost the industry, I think allot.  Employee's with bad attitudes are not recipes for long term success.  Furthermore, if you don't reinvest in yourself, how are you going to maintain the edge to be competitive long term?  So will things change?  Good question, because that would require some of these big wig executives at Citi, Lehman, Well's Fargo and Bank of America to really dig deep and figure out a way to make profit margins stretch far enough to pay for QUALITY help, which also means they need to be in the business of training their employees as well, or require much higher standards.  Could this drop profit margins in terms of what brokers and AE's make on YSP and SRP?  Perhaps, but if we had well educated and trained underwriting staffs, fewer bad loans and bad apple LO's would be competing in the mortgage market. That's a good thing for everyone in our industry.

If you have an influence with anyone on the wholesale side that can make a difference, I highly suggest passing on this suggestion and a copy of this wholesale employee's forum post.