Embrace Home Loans Reviews

Updated April 5, 2015
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3.3
12 Reviews
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Kurt Noyce
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Employee Reviews

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  1. Excellent company to work for!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Quality Control Specialist in Newport, RI
    Current Employee - Quality Control Specialist in Newport, RI

    I have been working at Embrace Home Loans

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Embrace Home Loans has been listed as one of the top companies to work for, both in Rhode Island and in the United States. Management is extremely caring and is very generous to its employees.

    Cons

    The mortgage industry has been through trying times over the past several years. Embrace has successfully weathered the storm.

  2. Glorified Loan Officer Babysitter - No thanks

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Underwriting in Newport, RI
    Former Employee - Underwriting in Newport, RI

    I worked at Embrace Home Loans (More than 8 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Embrace had some great benefits. Healthcare package was better before ACA went into effect, but I don't blame the company for that. Nice cafeteria, awesome (albeit small) fitness space, with ongoing programs to encourage fitness (such as classes offered on lunchbreak). Support staff was always readily available and very helpful. Management is approachable, even if they aren't always open to trying new ideas, they will listen to what you have to say. Generally a pleasant environment to work in and company was flexible, allowing me non-traditional working hours.

    Cons

    Loan officers: the almighty con. Yes, it is a company that thrives on sales, and therefore its sales force is put on a pedestal. I have never in my life had to deal with such bratty individuals. Many of them were eager to the point of being careless to get their loans approved - this is true for the industry, on the whole - and have since become irritable that there are new rules to follow. It got so bad that Embrace had to reprimand repeat offenders of certain behaviors by fining them. Yet the loan officers act as though they were treated like pack mules, and dragged through the dirt. Still, they receive annual commissions many times the amount that other employees receive in salary... and they continue to complain. So ungrateful, and the company continues to spoil them with bonus incentives and special trips for the highest producers. I left because I felt that my job - as an underwriter - had become little more than babysitting loan officers. And I was tired of having fresh-faced, 20-somethings yelling at me for flagging errors in their files. The loan officers at newer branches were the worst - many of them did not feel at all compelled to follow company policies, in large part because they were bought out (and so the branches themselves had once existed as stand-alone companies, with different policies). Having a retail division may have worked well when the company was fledgling in the 90s, but adopting many smaller retail branches was a terrible move for the company to make when it did. I also hate the new company name - I understand the motivation behind the change, but it was confusing for customers, a hard adjustment to make for employees, and the new name just sounds silly (just my opinion).

    Advice to Management

    Embrace will not survive if it refuses to put LOs in their place. If they are routinely screwing up, they need to be reprimanded, if not let go. The amount of dedication given to the sales force is unreasonable. If anyone deserves bonus incentives and great commissions, its the people scrambling to clean up after the LOs, who are always making a mess. And stop expanding. It is clear that some of these ventures have failed. Start focusing on cleaning up the business you already have, and stop trying to buy up new branches who have different cultures, different practices. There is too much of a clash.

  3. Good company, tough job

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

    I worked at Embrace Home Loans

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    abillity to make good to great money, decent benefits, company cares about employees

    Cons

    sales job relies on commission, a couple bad months and you're on the chopping block, relies on market that could change quickly

    Advice to Management

    go back to old commission structure

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  5. Too many non-sales responsibilities that took away from the sales process and too little compensation.

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

    I worked at Embrace Home Loans full-time (More than 5 years)

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They give back to the community and our charitable to employees going through hardships.

    Cons

    Constant changes, no direction, continual decrease to commission plans. Always coming up with new ideas and no follow through.

    Advice to Management

    Actually stick to your mission statement

  6. Good Company

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Embrace Home Loans full-time

    Pros

    Resources for training, Benefits package, Support staff is helpful and available most times

    Cons

    Lack of communication between departments and other team members - LOA, LO, Processor, UW.
    When the market got tough, the high expectancies remained but the reward reduced.

  7. Leadership Not Open To New Ideas in a Changing Market.

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

    I worked at Embrace Home Loans full-time

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Professional. From a recruitment standpoint, Embrace rolls out the red carpet and really, the employees couldn't be more professional and open. This trickles down from Corporate non-management headquarters (in RI) to the branch levels.

    Cons

    Prepare to process your files from start to finish which doesn't work in this Purchase market which drags down sales and production. Additionally, new ideas on origination are not welcomed by upper management-other than the 80's mentality of 'hitting Realtor offices.' Every LO in the market is fighting for that same deal and while that mentality may work for some, new systems and ideas are needed and when offered, go no where.

    Advice to Management

    Welcome ingenuity. Things have changed from 20 years ago in this industry-origination-wise and some of the best LO's have left the company because of this. The company means well, but fails to listen to the field.
    And in these challenging times, again in the mortgage business, that means high turnover and unhappy employees. Get rid of the current Loan Operating System. Very cumbersome.

  8. Loan Officer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Officer in Newport, RI
    Current Employee - Loan Officer in Newport, RI

    I have been working at Embrace Home Loans full-time (More than a year)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Resources, Family Oriented and Professional Development
    Benefits package

    Cons

    Lack of communication between departments

    Advice to Management

    Improve communication between operations and sales

  9. Basic sweat shop. Great if you have no idea what normal mortgage companies are like

    Former Employee - Loan Officer in Newport, RI
    Former Employee - Loan Officer in Newport, RI

    I worked at Embrace Home Loans full-time (More than 3 years)

    Negative Outlook
    Disapproves of CEO
    Negative Outlook
    Disapproves of CEO

    Pros

    Base pay and 8 hour work day

    Cons

    Basic sweat shop, run as a cross between a frat house and a religious cult. The loan officers literally process the entire file themselves and are treated as the lowest man on the pole, just below the cleaning man. The management act more like prison guards and the processors are essentially useless. If you can put up with the sarcastic attitude of the processors, you might find out what is going on with your loan, but only through email. They have bizarre monthly "awards ceremonies" that are something straight out of North Korea. The loan officers stand around clapping like a bunch of seals as the managers, processors and underwriters give each other awards and pat each other on the back for doing essentially nothing.The grand finally is when the President steps up to the mic, everyone bows their heads, and he gives a cryptic speech, sounding like something between and ominous warning and a Sunday sermon at The Assembly Of God Church. Nobody even knows what the heck the speech is supposed to mean, but they clap and clap like a bunch of brainwashed lemmings. Meanwhile when they get back to their desk, there is an email talking about how they might get laid off at any time, so they need to march in lock step behind our fearless leader and his crony team leaders.

    Advice to Management

    Get a clue and hire some outside team leaders who have worked around the industry. Bring in professional processors and marketing people and get over yourself.

  10. a great place to start a career

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Officer in Newport, RI
    Former Employee - Loan Officer in Newport, RI

    I worked at Embrace Home Loans

    Pros

    benefits, clean and friendly work environment. There are some strong personalities, leadership and coaching. I think the company has proven it is solid and will be around for another 20yrs.

    Cons

    undefined bonus structure, micro-management. There are certainly some in the business that are new and lack the ethical foundation necessary to be an honest operator in the mortgage field. It is unfortunate when profits are encouraged over the well-being of the client.

  11. It was a positive place to advance my career.

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Loan Officer in Newport, RI
    Current Employee - Senior Loan Officer in Newport, RI

    I have been working at Embrace Home Loans

    Recommends
    Recommends

    Pros

    Embrace will provide you with a solid stream of leads, and you will have the ability to earn a very strong income.

    Cons

    They employ a six sigma methodology which in my opinion is not suited for customer service and financial service companies.

    Advice to Management

    While the leadership is strong, they tend to tow the company line in almost all cases. The President is a very dominant figure that makes great business choices, but it is always his way.

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