Responsible to built relationship with the borrower processing experience during the loan application ensuring the delivery of the GFE, TIL with the RESPA requirements base on the loan type, State delivering all disclosure in a timely matter.
Jack G. trained me my first week, and was thorough and knowledgeable. Two weeks later they laid off 30 employees. Can't critique their real estate department, but their mortgage/finance and servicing department, WAS HORRIBLE, and is doomed. High rates and fees, slow processing times due to their over-complication of the process. If you are a loan officer, I strongly advise against working there. The spoiled loan officers that work in the individual branch offices are the only sales staff treated with respect. They do not provide leads for new loans either, instead they recycle current customer lists, so your day consists of cold calling. But hey, they do buy bagels for everyone on Fridays...
Although your working long exhausting hours at times, you have the opportunity to assist couples young and old in acquiring either the very 1st home or their last. The self satisfaction you receive is so incredible and hard to explain. I have always loved all of the demands this job required.
Being in the Mortgage business for more then 20 years I truly loved everything about it.
working and seeing the gratification on faces of those you helped
Gold Service Manager/Loan Officer (Current Employee) – Fredericksburg, VA – May 19, 2014
In-House lender provides an audience of lending opportunities daily in a producing office. However, the demographics of this lending area produces a high percentage of credit challenged borrowers that need special loan products. The combination of these two elements result in a very high number of fallouts and micromanaged clients and emotions. .
Training classes for new agents are one of the more enjoyable duties. Coworkers are fabulous and try to be extremely supportive.
Typical day involves managing underwriting issues and loan conditions. New agent training (finance classes), prequalifying and tracking down new leads, producing finance flyers for new listings.
Gold Service Manager Offsite (Current Employee) – New Jersey – October 22, 2013
Management is not realistic. A boys club with seasoned employees in cushy management positions. Lack of Management support. Too many underwriting overlays. High Interest Rates. Not Competitive. Impossible to grow business with other realtors outside of Weichert. Painful underwriting and processing experiences with all clients.
Your day started off, everyday as having the nasty VP of closing operations at your desk going over your pipeline, asking the status of each loan, how long is it going to take you to work on each file and how you need to send the closing package within 48 hours. Then you get 100 emails from the manager saying the same thing.
The Loan applications are cleared to close by underwriter hours after all parties are sitting at the closing table. You could imagine all the nasty calls you endure by borrowers, title co, attorneys, sellers, loan officers, realtors.
Management is a joke. They micromanage you to death about the files and your pipeline but never offer you a lending hand. Goals are unrealistic. You have to submit the closing package 48 before the closing date but they never get approved by the underwriter within the 48 hours, usually the day of the closing, the majority of times hours after the closing is scheduled. So you have to send the closing package so it gets time stamped in the system & management gets credit for it, even though it has not been approved by the underwriter so it reflects on the pipeline as the closing package being sent out within 48 hours. Then you have to resend it again after it's approved by the underwriter and hope that the title company weichert title gets the right closing package signed which they never do. If weichert title has the borrowers sign the wrong closing package, they have to call the borrower and ask them to resign the correct one. The New VP of closing Operations wants you to work overtime but not get paid for itmore... so the numbers could reflect that under her leadership or lack of thereof, she is doing a great job. You only can submit your hours on your time sheet as 37.5 hours per week regardless if you worked 40 plus which you usually do because of the files.
They have a large turn over of employees. I walked out after 2 months of working there and yes I have reported them to the department of labor.
The only enjoyable aspect of the job were my coworkers. Really nice people.less
Must work overtime but not get paid, low morale, stressful job, lack of good management