Senior Loan Processor (Former Employee) – Chesterbrook, PA – September 4, 2018
The work environment was okay due to most of my co-workers were prior co-workers and we all help each other. J. G Wentworth is new to home lending and did not follow laws and gave no direction. It was no feel of stability.
Account Executive (Former Employee) – Radnor, PA – August 22, 2018
All you do is cold call all day and basically harass client to sell their structured settlement for a lump sum in 4-6 weeks. Most of the time is it a dreadful experience having to lie to costumer in the process to buy their structure settlement but to give a bit of credit to the company there is a little market for people who are looking to sell their structure settlement and know the process of losing up to 60% of the value of their settlement
Loan Officer (Former Employee) – branch – August 9, 2018
Company is a fraternity culture, they speak with forked tongue, saying one thing that sounds good, and never delivering or delivering the opposite. Management from top of company down, is very much above the law mentality. Only favorites need apply.
to start, the $200,000 yearly pay that they are advertising is grossly exaggerated. other than (maybe) management, no one makes anything close to that number or at least not in this branch.
based on what I've seen everyone in the branch close and the respective compensation plan, most LOs here are earning about $50,000/year. that's just the average, some people are earning much less. Not good money when you have to work 50 hours a week and 2 weekend days per month. that said, the average LO at this branch is inexperienced (less than 3 years in the mortgage industry) and on the younger side, so if you're right out of college, that might be good money for you.
as far as leads go, you will mostly be calling aged internet leads. the 10 "new leads daily" that they tell you about at the interview have already been called by several lenders. so while they are new leads to the company, they've already been called by other companies, so they are neither new nor exclusive.
the company can afford to do this since it's a commission only job. as far as the company is concerned, you can close 3 loans a month and still be a profitable employee. the fact that this is bordering on minimum wage doesn't concern the leadership in the slightest. they have the attitude that, if we bring in 10 people and 9 of them close 3-4 loans before quitting, we still made a profit and we will bring in 10 more.
my advice is, steer clear of this company if you are looking for stable pay and long term employment.
Quality Control (QC) Specialist (Current Employee) – Woodbridge, VA – May 22, 2018
I really like how this company has evolved over the last 3 years. I think it’s important to continuously look for new ways to be more effective- and there’s no better way to do this than with new approach to the changing diversity culture.
Sr. Loan Closer (Former Employee) – Woodbridge, VA – May 11, 2018
Micro-managed to the minute. Received email on the hour, every hour, asking for your completed work so far for the day. management is less than approachable, stand-offish and belittling. Were not allowed to ask team members questions regarding work. Any questions had to be sent to the closing manager, whom didn't care to give a response, most of the time. So, the team environment was less than ideal for anyone who liked to engage in any kind of social interaction with members of their team.
Senior Loan Officer (NMLS ID 287130) (Former Employee) – Boca Raton, FL – March 26, 2018
The compensation structure is 100% commission with high earning potential if you are willing to put in the hours (60+). In order to be successful you really need to put in evening hours and working weekends are most beneficial The lack of a base salary can be a little stressful.
free lunches, fun office environment
hours required to be successful (including the times of day most beneficial - nights &n weekends).
Account Executive (Former Employee) – Radnor, PA – March 1, 2018
Make lots of prospecting calls Build relationships with clients Review documents
Lots of younger people work here so it's easy to build friendships. It's a little bit stressful since it is sales. The most enjoyable part of my day was building that relationship with the clients. Management is a little bit strict, but that's because they want you to hit your numbers.
Underwriter (Former Employee) – Chesterbrook, PA – February 28, 2018
Everyday seemed pretty much the same. The work wasn't that challenging and it could get unbearably slow. When it was busy there was pressure to get everything done quickly and perfectly. Communication was encouraged with other departments but it seemed like whenever you did talk to the other departments you were constantly questioned as to why you would need something even though it would be a standard request. The people that worked there was nice but that was pretty much the only good thing about the job.
Employment at company can be very uncertain due to the nature of the business
New Customer Specialist (Former Employee) – Radnor, PA – January 10, 2018
My employment at JG Wentworth was a positive one. The salary that provided was adequate and they allow their employees the opportunity to receive overtime . Once an employee becomes full time, he or she is entitled to certain benefits from the company such as medical, dental, vision, etc. However, my experience was also a little unpleasant in that I was included in the batch of approximately 100 that was let go due to a required downsizing due to the "poor functioning " of the company. As was indicated to us, the company was performing poorly economically . This may have been attributed to the company not receiving a sufficient amount of money from structured settlement deals incurred from its clients. Ultimately, due to this poor economic functioning, a massive layoff was implemented to enable the company to stay afloat and not become bankrupt. Those of us that were included in the layoff was given a severance package.
Adequate pay and benefits, also free coffee, snacks and other amenites were bestowed to employees
Employees were sometimes not justly awarded for their efforts.
Mortgage Loan Closer (Former Employee) – Woodbridge, VA – November 1, 2017
Overall, JG Wentworth was a decent place to work. Management was satisfactory, but could use some improvement. Although the pay was on the lower end, the bonus structure however was generous and competitive.
Loan Officer NMLS #1441189 (Current Employee) – Wayne, PA – August 21, 2017
There is NO work life balance whatsoever. You are expected to work 55 hour weeks every week. You will be working Saturday and Sunday if you want to make money. Management is money hungry and does not care about overworked employees as long as they are brining home the big pay checks.
Legal Assistant (Current Employee) – Fort Wayne, IN – July 10, 2017
Working with this company has made it a pleasure. They make sure they provide me the proper documents in a timely manner. The most enjoyable part of working for this company is the fact that you would meet and interact with multiple people.
Quality Assurance Specialist (Current Employee) – Woodbridge, VA – May 24, 2017
For the most part it is a comfortable and productive work place. It does get boring at times and very repetitive. Could use moments throughout the day to relax and wind down towards the end of the day. Such as a gym or larger meeting area other than kitchen or outside. Overall good place to work