There are newer employer reviews for 360 Mortgage Group
There are newer employer reviews for 360 Mortgage Group

See Most Recent

Good Employer, Limited Career Potential

  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Anonymous Employee
Current Employee - Anonymous Employee
Approves of CEO

Pros

Fair pay, good hours, an ok place to work

Cons

Arbitrary promotions, Limited career advancement

360 Mortgage Group Response

Jun 30, 2015 – Content Writer / Social Media Specialist

Thank you for your review and your feedback. If you could give us more information on the issues we need to correct, that would be greatly appreciated! Our e-mail address is hr@360mtg.com. To ... More

Other Employee Reviews for 360 Mortgage Group

  1. New Wholesale Lender with Excellent Technology and people but LOTS of overlays

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    Pros

    -phenomenal, cutting edge technology. takes 5 minutes to upload a loan and they have an IM chat feature with underwriters. FHA connection integrated into the system. Email notifications on every step of the way. -Some of the underwriters are the best i've worked with in my career and they have a lot of people on the inside who truly care and actually try to get things done. The branch manager in Austin is a saint and if everyone worked like her, they would have clients for life because of her excellent service and dedication. -they order wires on loans the night before and have all day to fund that loan - easiest funding process i've ever encountered. -100% paperless system

    Cons

    They have LOTS of underwriting overlays - something like a 30 page document of all of them. They are VERY conservative because they are protecting 1) their investor and 2) their funding ratio with their Lines. -they use an internal appraisal panel rather than local AMC's. This has been a hotly contested item but they want control of the panel. -they are conservative with the programs and properties they will lend on, sometimes too much which means turning away lots of business. -They dont have market-specific rate sheets so they cannot incentivize certain markets that are slower. And Texas is NOT the same market as San Diego - both in pricing and product mix. -the AE comp plan is low for the industry - 10 bps for conventional, 12 bps for FHA and 15 for portfolio. broker approval for new broker setup was slow because the primary person handles other departments

    Advice to Management

    if you want to succeed in CA, you need to have better pricing and product mix available. Remove underwriting overlays on DU approved loans. Remove your overlays on temp high balance loans to be more in line with other lenders in the market. Get Freddie programs and make them competitive. Incentivize your preferred brokers and treat them like gold because not a lot of brokers are using lenders who dont have a niche. The portfolio program is not a niche if it's priced out of the market. Going only after the 'cream of the crop loans' is not a good strategy for an up and coming lender if all the best brokers are still approved with Wells, Citi, GMAC etc. To be competitive with the big boys, you need to be priced AND PERFORM at least the same, if not better, than they are currently servicing their best clients.

    360 Mortgage Group Response

    Jul 1, 2015 – Content Writer / Social Media Specialist

    Hello and thank you for rating and reviewing our company. While it is true that we used to have overlays, we are pleased to report that we no longer have any. The overlays were necessary early on ... More


  2. A promising future as a mid-sized mortgage lender/bank.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at 360 Mortgage Group (More than 3 years)

    Pros

    This mid-sized privately owned company moved forward with top leadership, dedicated workforce and commitments to technology. For operations, it regularly appeared that there were positive opportunities for pay increases and position advancement based upon performance and leadership. Upon my departure in an administrative role, profits were increasing, investor relations growing, technology continually advancing, and a very socially active environment (work hard, play hard). The day-to-day operations managers treated everyone professionally while resembling a family and/or friendship atmosphere. I found my work-personal life balance acceptable and the compensation competitive with other similar positions and/or organizations. The company offered good insurance, matching 401k's, profit sharing, meals, state-of-art 'green" building with large windows, gym reimbursement and they'll consider anything other for discussion. For the top leadership, they were not physically present always but this wasn't to be confused by a "they don't care" or "aren't proactive in the growth of the co". It's likely, the owners spent much of their time developing technology and operating systems and mapping the future. It seemed that this company ran lean therefore relies on their operations staff to move the pipeline efficiently. This company always appeared to be focused on increasing revenue while making the work life enjoyable. In my role as broker approval, I worked under minimal supervision with a large workload while usually having space for personal matters.

    Cons

    Employees need to honor 360's contracts, and rules, or there are consequences.

    Advice to Management

    Nothing derogatory.

    360 Mortgage Group Response

    Jul 17, 2015 – Content Writer / Social Media Specialist

    Thank you for the positive rating and review! It's important that our employees honor 360 Mortgage Group's contracts and follow the rules that are in place here at our company because we operate ... More


There are newer employer reviews for 360 Mortgage Group
There are newer employer reviews for 360 Mortgage Group

See Most Recent

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