Cobalt Mortgage

www.cobaltmortgage.com
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Cobalt Mortgage Reviews

Updated February 4, 2015
Updated February 4, 2015
25 Reviews
3.4
25 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Keith Tibbles
10 Ratings

Employee Reviews

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  1.  

    General company feelings

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

    I worked at Cobalt Mortgage full-time (more than a year)

    Pros

    Good people
    Generally friendly attitude
    Family friendly

    Cons

    Not open with all details to employees
    Tended to forget in company wide meetings to thank all the departments
    Unfocused management or goals
    Yearly compensation/raises were lacking/non-existent

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Licensing Coordinator. Worked in the legal department conducting loan officer licensing process.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Cobalt Mortgage

    Pros

    Pay was great and some of the people were nice. Hours were great. I loved working with my manager.

    Cons

    It seemed that a lot of people in different departments were full of themselves. Benefits were poor and company value was low.

    Advice to ManagementAdvice

    My manager was great to work with. Benefits were not the best and the company values were a little low.

  3.  

    could be worse, could be much better

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

    I have been working at Cobalt Mortgage full-time (more than a year)

    Pros

    Relatively flexible on schedule, great insurance

    Cons

    horrid communication from leadership, unclear job roles, tough to move up

    Advice to ManagementAdvice

    communicate clearly with all what roles and expectations are

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    Great company with so many fantastic opportunities!

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

    I worked at Cobalt Mortgage full-time (more than a year)

    Pros

    Great people, management and opportunities. Typical 9-5 hours though overtime does become necessary depending on your position. I held many here and even if I had to work overtime it was always worth it. Also had great job benefits such as health care, matching your 401K contributions and paid vacation time.

    Cons

    There is a lay off season right around the holidays. While I was never laid off I saw a lot of people let go because of this. Best advice is to get in and become irreplaceable.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Broken promises and the demise of a once great company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Processor in Bothell, WA
    Former Employee - Processor in Bothell, WA

    I worked at Cobalt Mortgage full-time (more than 3 years)

    Pros

    Before about 2 months ago, great culture, growth opportunities and what appeared to be the forthright conviction of their President and EVP. However once consumed by Caliber, it was apparent that the founders had an end-game in place for quite some time. From hiring a legal department to rival most medium sized law firms, to putting a CIO in place with no technical experience or ownership of any process that cost the company a quarter of a million dollars a year plus flying him back and forth from Dallas to Seattle every other week and paying all the expenses while others had no raises for years.

    Cons

    No loyalty to their employees while asking them to "hang in there" while they negotiate the pillaging of the company. New Caliber systems are a complete hack job with Producers now facing a system without their previous emails, files or contacts. Founders made out like bandits while people with families lost or will lose everything they have worked so hard for and the realization that the company culture they believed in was a complete fabrication.

    Advice to ManagementAdvice

    Be honest, open, share information, have a bit of conviction for the people that work for you.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Did numerous appraisals for them as a contractor.

    • Work/Life Balance
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Cobalt Mortgage

    Pros

    Paid well, limited headaches, email.

    Cons

    Dishonest, fraudulent, law breaking, unethical.

    Advice to ManagementAdvice

    Sent our appraisal company plenty of work at good fees. One deal came in below purchase price and their loan officer created drama. The loan processor phoned and emailed the appraiser directly trying to influence value, which is illegal and not their "listed " policy. Even the processor stated they could get in trouble for doing that. They then complained to the Kirkland Appraisal dept. Never received another order from them and their "appraiser head" would not return calls or email. The kicker is they reordered an appraisal from a fellow appraiser attempting to "get their value" on the same property...

    So their illegal practice is throw out any appraisal that doesn't close the deal and keep ordering until someone comes in high enough for the loan to close. The number of federal laws violated by this practice is numbing. Unethical and sad for the industry.

  8.  

    Cobalt Mortgage

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Coordinator in Bellevue, WA
    Current Employee - Loan Coordinator in Bellevue, WA

    I have been working at Cobalt Mortgage full-time (more than a year)

    Pros

    Compensation, Commitment, Culture, Community, Advancement

    Cons

    Training, Turnover, Individual Management, Locations

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Great Place to work

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

    I worked at Cobalt Mortgage full-time (more than a year)

    Pros

    ownership, co-workers, benefits, flexibility, wages

    Cons

    operations and underwriting management, making decisions and not following through with them, too many cooks in the kitchen, minimum support for operations

    Advice to ManagementAdvice

    Hire people who have the skills and know-how to do the job

    Recommends
    Neutral Outlook
    Approves of CEO
  10.  

    Cobalt has gone down hill.

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

    I worked at Cobalt Mortgage full-time (more than a year)

    Pros

    Good product mix. Owners seem to be great people.

    Cons

    Operations were not great in our branch. The Colorado operations center was a mess. They took forever to approve huds (up to 24 hrs). No one could approve huds in the first half of the day because they were sending wires. Although I brought this up, they didn't change it while I was there. When I first started they were great...And then they became slow and inefficient. It felt like I was working for a big overgrown bank.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  11.  

    Waste of my tie

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Cobalt Mortgage full-time (less than a year)

    Pros

    There were no pros, all they cared about was money and not the well being of the staff

    Cons

    They will close a branch with out any notice

    Advice to ManagementAdvice

    Next time you want to close a branch don't terminate access to the systems while we are still working

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