Magazine article American Banker

Ex-1st Metro CEO Stays in Branching as a Matchmaker

Magazine article American Banker

Ex-1st Metro CEO Stays in Branching as a Matchmaker

Article excerpt

Byline: Brad Finkelstein

Daniel Jacobs, the former chief executive of 1st Metropolitan Mortgage, is keeping his hands in the branching game with the launch of Pro Mortgage Bankers Solutions and the new BranchMatch process.

The startup's website says the company aims to match branch managers with the "right home for the remainder of their careers in the mortgage industry."

Jacobs found that employee-employer fit elusive while with 1st Metropolitan, one of the largest branching firms. His recruiting team at the Charlotte, N.C., company, which he left in 2010, got plenty of leads for branch managers, but there was very little pull-through.

In fact, Jacobs said, 90% of the leads were bad fits for 1st Metropolitan. But he realized they would have been fine candidates for plenty of other companies.

That's where Pro Mortgage Bankers Solutions (also of Charlotte) comes in. Its website, PMBS.net, explains the BranchMatch process, including an online job-seeker application that Jacobs called the "compatibility questionnaire."

On the other side of the equation, Pro Mortgage currently represents about six lenders. Jacobs noted that each has a slightly different profile of what they are looking for. His company's job, he said, is to find the job seeker who best fits that profile.

Jacobs said there's "a good enough level of diversity" among his clients, so instead of finding 10% a new home, Pro Mortgage should find 70%.

His team includes a group of recruiters he has worked with for as long as 10 years. Each member has experience as an originator and a branch manager and has been involved in corporate management of a branching company. …

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