Countrywide Home Loans Reviews

Pros

The potential to make commission based income was superb and only limited to how many hours per week you worked.

Cons

The hours per week you needed to work to make a high level of commission income was a large number.

Advice to Senior Management

I would continue to stress the high standards and integrity that the company espouses which makes the company the best.

Pros

Compensation for commission could potentially be good if you are the only In House Loan Consultant (IHLC) working and if the Branch Manager likes you. Compensation for External Home Loan Consultants (EHLC) of course can be very good as long as you are able to find your own clients.

Cons

The branch manager decides how and if the In House Loan Consultant (IHLC) gets the commission that month. The manager can divide the commission any way between the IHLCs. But most of the time they are fair about it.

Advice to Senior Management

There probably is a better form of training to provide for the In House Loan Consultants like a video or computer seminar to watch when there is free time (to train).

Pros

Nationally known company. Helped a lot of people out of the mountains of debt they've managed to put themselves in. .

Cons

Put people in the right mortgages for them. not what makes you the most money. Hold integrity above financial prosperity.

Advice to Senior Management

Countrywide as a company has been bought out by an even worst bank, so hopefully the mistakes were learned from. But it's doubtful.

Pros

great training and positive team energy. good benefits package and room for growth. onsite cafeteria for convenience at affordable prices

Cons

long hours without pay due to salary job. tough to balance family life due to long hours and saturday work.

Advice to Senior Management

flexible schedules and promote family life. there was a gym onsite, but couldnt go because sometimes had to eat at my desk and therefore healthy living was promoted, but not supported

Pros

It has very good benefits

Cons

The management treatment towards their employees

Advice to Senior Management

Have an open door policy with the employees

Pros

Fun environment, good people, good job, good support

Cons

Tough market, invested too much in subprime market, promoted friends over potential management

Pros

Originally great business model and level of interaction and field management autonomy.
Excellent branch and area staff and leadership.
Originally felt like family and a accepted part of the leadership team to fuel growth

Cons

AS the market worsened and area and regional management teams were moved around, things changed for the worse very rapidly. Senior management felt they WERE the mortgage industry and were totally exempt from field management warnings, concerns or inquiries. IF you were a part of an particular previous company affiliation, you were considered a part of the 'in group'.
Your numbers had to increase dramatically month over month, year over year regardless of warnings and actual real live events and market deterioration in the west particularly.
Messing with sub-prime loans just to keep up with or overtake market share with Wells, Wachovia, B of A, or WAMU - and look at that years later. NONE of them matter, and tens of thousands of loyal, hard working, sharp mortgage professionals are out of work because of 'collective arrogance'. Very sad for the one-time world-wide industry innovator and leader.

Advice to Senior Management

B of A owns them now and as we know the industry is in a state of chaos and will be for a long time to come.

Pros

Compensation was good and employees had exposure to interesting work.

Cons

Work life balance was not great.

Advice to Senior Management

More involvement was needed.

Pros

The hours can be flexible.

Cons

A pay check is not a guarantee no matter how many hours one works. This job is 100 percent commission.

Advice to Senior Management

Threats and demeaning attitudes towards loan officers does not promote loyalty or promote healthy results.

Pros

Great Pay
Good Opportunity to move up
Good training opportunities
Professional Environment
Good Incentives and In house Canteen and Weightroom

Cons

Management is too slow in recognizing talent
Management and Company decisions regarding Promotions is too slow
Guidelines and Ethical Environment presented is less than adequate

Advice to Senior Management

Provide support to your stars
Provide a strong support system for Ethical Practices
Recognize people not only for their sales performance, but also for their peoples skills.