First Meridian Mortgage Corp

  www.firstmmc.com
  www.firstmmc.com

First Meridian Mortgage Corp Reviews

2 Reviews
3.5
2 Reviews

Recommend to a friend
Approve of CEO
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Chaim Wielgus
0 Ratings

Employee Reviews

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  1.  

    Tampa, FL location. Good environment, tough market.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Mortgage Consultant
    Former Employee - Mortgage Consultant

    I worked at First Meridian Mortgage Corp

    Pros

    They provide you with all the leads you can handle and give you a draw for a few months to help out while you get your client list rolling. They have the ability to make their own loans which gives an edge over other brokers. Management is demanding but smart and fair. They can be very flexible with you about your schedule as long as you are performing and communicating well with them. They actually listen to employee feedback and are willing to make necessary changes to improve things.

    Cons

    You have to be willing to hammer out a lot of calls and take a lot of rejection. The leads are good in that they represent legitimate shoppers but come from sources that will have you competing hard with brokers from other companies for their business. You will suffer if you focus on refinances instead of buyers. Training on persuasive sales techniques is minimal. You will need to get good at that on your own. It can take several months to get your client list built up enough to see a decent income. Pay is 100% commission. You don't get paid for simply being there.

    Advice to ManagementAdvice

    Adding a photo and bio of the brokers to the web site could be beneficial. The client base is online savvy and likely to look up the company. Since virtually all customer contact is via phone, I personally think it can improve a customer's comfort level to be able to see who they are speaking with.

    Recommends
    No opinion of CEO
  2.  

    A decent place to work if you enjoy doing mortgages, and like 100% commission.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Loan Officer in Louisville, KY
    Current Employee - Loan Officer in Louisville, KY

    I have been working at First Meridian Mortgage Corp

    Pros

    Fun atmosphere. You work in large office with mainly cubicles. Everyone is helpful and managers are current with market conditions/changes. Pay is decent, if you like 100% commission.

    Cons

    Low morale accross the company, which includes employees and managment. Not very structured. If you like being a loan officer and/or have worked at another mortgage company before, then you may like it. Otherwise if you are new to the industry, stay away from getting into the mortgage business. There are better sales positions.

    Advice to ManagementAdvice

    Look at better ways to boost employee morale. The employees are the ones making your salaries. Don't change pay structures and daily goals expected from employees so often. Organization needs to be more structured.

    Doesn't Recommend

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