Amerisave Reviews

Updated August 22, 2015
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2.5
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Patrick Markert
22 Ratings

41 Employee Reviews

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  1. Want to go back

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Post Closer in Buckhead, GA
    Former Employee - Post Closer in Buckhead, GA
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Amerisave full-time (More than 3 years)

    Pros

    Lots of knowledgeable team leads, autonomy, incentives enabled me to take on additional work if I desired additional income, but was also allowed to turn down additional work if I was burned out, etc. Great training, alternative lifestyles are wrlcome, ie. Several management employees were covered with tattoos, many DJ's, members of bands, makeup artists, etc worked there and were embraced for their differences. You were allowed to talk and.socialize while you worked or, like me, I could put on my headphones and jam out to music all day, what mattered was the quantity and quality of your work. We were required to sell every one of our loans to investors within 10 business days, meaning clearing underwriting conditions set by various investors which could be very stressful. Thankfully when we ran into stubborn borrowers or settlement agents, our team leads would jump in and escalate the issue so it didn't always land squarely on our shoulders. I was recruited away from there and have been trying to get back ever since. I didn't realize it at the time, but I was very happy there. Plus, their snacks out of the vending machine are only $0.25!

    Cons

    Some very strong personalities full of negativity could get the better of me some days. The team leads held themselves to an impossibly high standard and their stress was palpable. Therefore, their reviews of my work were harsh, albeit true; sometimes the truth hurts and they could've gone a little easier on me; the message was clear, why beat me over the head with it? ,

    Advice to Management

    Take me back!!!


  2. Mortgage Processing

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Amerisave (More than a year)

    Pros

    Nice people, overall easy atmosphere. There was a lot of peer support throughout the processing teams.

    Cons

    Management module is all in favor of the organization, not the employees. They dock your pay erroneously EVERY pay period for bad turn times (that are beyond the processor's control) and you have to fight EVERY pay period to get your money back.

    Advice to Management

    Treat your employees better and they will stay longer than 6 months.


  3. Awful Company, terrible ethics, worse management

    Former Employee - Senior Mortgage Processor in Atlanta, GA
    Former Employee - Senior Mortgage Processor in Atlanta, GA

    I worked at Amerisave (More than 3 years)

    Pros

    Work from home was the only pro

    Cons

    Unethical, Non-Compliant with Federal Regulations, terrible process.

    Advice to Management

    Go to Jail


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  5. Mortgage Loan Processor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Amerisave full-time

    Pros

    If you are an experienced processor you won't have a hard time processing loans here. Their software system links everything together so you can order everything you need from within their system. If you are doing well, management leaves you alone to work. They only bother you if you are not doing well and there's problems.

    Cons

    Commission only!!!!! You get paid $200-$300 per FUNDED loan. The price range depends on if it's conv or gov't or purchase or refi. If the loan closes and the borrower changes their mind before the funding date (i.e. wants a different rate, doesn't want to not pay a fee listed on the final hud, etc.) then you only get paid the $50 for submitting the loan to Underwriting. That sucks!!!!!

    Advice to Management

    every pay period you get an email from your supervisor saying that some of your loans were incomplete submissions (per underwriting) and the processor has to answer the email to state why they believe that the loan submission was complete (in order to get paid the $50). Change this system because it just pits Underwriting against Processing and builds anomosity.


  6. Dissapointing

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate
    Current Employee - Associate
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Amerisave full-time (More than 5 years)

    Pros

    The hiring process is relatively informal and can be quick. For some employees, the ability to work from home is a plus, however this option is only available if you are on commission. The IT at this company is very advanced compared to other mortgage companies. However, the advanced IT comes with being very limited in being able to offer a new product or make an exception to a rigid process. If you are a self-starter and are in a commission / paid per file role you may be able to see a little success.

    Cons

    There is very little room for advancement at this company. Working here feels as though the view of management is that the employees are little more than robots who exist to work their process. If you are salaried, you cannot work from home full time because there is no trust that you will do your job even though the IT at this company is very advanced and they can easily keep track of everything you do. Amerisave also received a large fine from the CFPB for deceptive advertising practices. I would encourage you to read the entire action against Amerisave on the CFPB's website as it will come up with customers. The company’s business model leads to many boom and bust cycles depending on the movement of mortgage rates. This leads to cycles of hiring and layoffs which seem to happen regularly. Employee turnover is appears high and it feels is little to no effort made to retain employees at any level.


  7. Nice working from home but the compensation plan did not adapt to the new licensing requirements

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Loan Officer
    Former Employee - Senior Loan Officer
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Amerisave full-time (More than 5 years)

    Pros

    Work form home if you like that unless you are in Atlanta, benefits are ok not great but better than nothing, application and rate quotes are easy to handle

    Cons

    You have to do alot of loans to make any money which can be done when the market is good but when the market is bad their pay structure will not support most people in that industry.


  8. Underwriter

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriter in Atlanta, GA
    Former Employee - Underwriter in Atlanta, GA
    Recommends

    I worked at Amerisave full-time (More than a year)

    Pros

    Flexible and the ability to work remote.

    Cons

    During slow peaks, the company tends to layoff.

    Advice to Management

    None


  9. Rewarding and great training and updating of changes in UW.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Underwriter in Remote, OR
    Former Employee - Mortgage Underwriter in Remote, OR
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Amerisave full-time (More than a year)

    Pros

    Strong support from fellow employees and management

    Cons

    No contact with loan originators. Everything went through processing.

    Advice to Management

    When the company had a large number of underwriters I think it may have been helpful if underwriters were part of a team.


  10. Great for highly experienced mortgage sales people, little support for less experienced people

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Originator in Troy, MI
    Current Employee - Loan Originator in Troy, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Amerisave full-time (Less than a year)

    Pros

    Great comp Excellent ramp up comp plan The best rates 40 hour work week Relaxed atmosphere VA, FHA, USDA, conventional

    Cons

    Making changes is like pulling teeth Slow processing (almost 40 days) Very little support for underwriting scenarios Wired Headset (No Wireless Allowed)

    Advice to Management

    Allow loan officers to have wireless headsets! Develop a process to review suggestions from team members.


  11. Helpful (1)

    Don't waste your time

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Processor in Atlanta, GA
    Former Employee - Loan Processor in Atlanta, GA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Amerisave full-time (More than a year)

    Pros

    Work from home, good co-workers, decent pay

    Cons

    Management, Mandatory OT when you're paid commission, Changing policies DAILY, Underwriters are God

    Advice to Management

    Laid off all of their remote processors in an effort to "save money" but rehired in house processors to replace everyone.



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