Ace Mortgage Funding

  www.acerefi.com
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All Employees Current Employees Only

2.8 6 reviews

67% Approve of the CEO

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Richard M Hall

(3 ratings)

25% of employees recommend this company to a friend
6 Employee Reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    I worked with and For Ace For 7 Years great company horribly that the industry crashed on us

    Anonymous Employee (Former Employee)

    ProsWish They were still open

    ConsLot of hours for us back then.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Loan Officer

    Loan Officer (Former Employee) Cincinnati, OH

    ProsChance to earn decent money

    ConsCompany focused on bottom line and not their employees or customers.

    Advice to Senior ManagementStop pushing bad loans just to make the company money

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Company shut down

    Loan Officer (Former Employee) Schaumburg, IL

    ProsHard work pays off with commissions

    ConsThey manage by a book that cannot be altered for common sense

    Advice to Senior ManagementStray form the book and top producers would have stayed and the company might still be in business

    No, I would not recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Bad Management in Scaumburg, IL

    Loan Officer (Former Employee) Schaumburg, IL

    ProsPossibility to make good money

    ConsThe managers manage by some written book that cannot be altered

    Advice to Senior ManagementFire yourself... too late, already out of business

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great place for income and advancement when it was open.

    Loan Officer (Former Employee) Denver, CO

    ProsExceptional place to work with great income potential.

    ConsCompany went out of business in Oct 2008.

    Advice to Senior ManagementN/A

    Yes, I would recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Residential real estate finance is not the place to make money.

    Loan Officer (Former Employee) Cincinnati, OH

    ProsIt was originally a high-paying job with serious commission opportunities. Of course, this was amidst the subprime lending boom when almost anyone could get a loan. Credit didn't matter, nor did income or collateral. Furthermore, rates were not commensurate with risk and yield spread premiums were huge. However, when that started to fade and the subprime lending began to dissipate, the only options were FHA and Conforming. The DU (Desktop Underwriter) software was outstanding for ascertaining approval in a fast way, and technologically, Ace was by far the best company. Furthermore, the leads were usually solid, and once direct mail marketing began, the incoming calls seriously picked up.

    ConsThe downsides are that in the current real estate market, the opportunities for making serious money in mortgages, let alone residential ones, are simply not there. Unless you are truly a stellar salesman, one will find themselves dissapointed with the quality of leads, the underwriting standards, as well as the constantly changing lending guidelines at one point. Additionally, there was no real opportunity for a career path, as your choice were mainly limited to branch manager or loan officer. For those who sought a VP role or even higher, those opportunities were simply not there. Also, management at times were more focused on numbers than the off-putting turnover.

    Advice to Senior ManagementDo not punish the LO's by taking away leads when performance is not strong or they are late to a meeting.

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