PHH Mortgage
2.8 of 5 133 reviews
www.phhmortgagesolutions.com Mount Laurel, NJ 1000 to 5000 Employees

PHH Mortgage Reviews

Updated Jul 3, 2014
PHH Mortgage – US – “Small Office inside locate Realty Company”

All Employees Current Employees Only

2.8 133 reviews

                             

14% Approve of the CEO

PHH Mortgage President David Tucker

David Tucker

(7 ratings)

30% of employees recommend this company to a friend
133 Employee Reviews
Relevance Date Rating
in

Review Highlights

Pros:
  • "inbound leads potential to make 6 figures work life balance"
    in 6 reviews
  • "A great place to get your start in the mortgage business"
    in 5 reviews
Cons:
  • "Empty promises, constant changes in requirements, poor training, favoritism, no work life balance"
    in 5 reviews
  • "Low pay in comparison with other nearby mortgage companies, Awful health insurance with 2K deductable"
    in 4 reviews
  • Show more review highlights

Reviews

    • Culture & Values
           
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    • No Opinion of CEO

     

    OK...but, they will cut you loose

    Underwriter (Former Employee)
    Elizabeth, NJ

    ProsGood for entry level work

    ConsLay offs, lay offs, lay off. PHH has a horrible history of them...just search it on google.

    Advice to Senior Managementquit

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Fun while it lasted

    Mortgage Loan Consultant (Current Employee)
    Jacksonville, FL

    ProsThe people are amazing. I enjoyed my colleagues, supervisors and our daily life at work. Management genuinely wants to see you succeed, and they do everything in their power to help you do so.

    ConsCompany is re positioning assets for significant change. Most likely see some offices closed, or moved within the next 12 months. Wouldnt suggest for a long-term employment solution.

    Advice to Senior ManagementCommunication to employees should have been better. We had a disconnect between what was important and what wasnt with our senior management.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Poor Management

    Anonymous Employee (Current Employee)

    ProsWork independently without much supervision

    ConsEmpty promises, constant changes in requirements, poor training, favoritism

    Advice to Senior ManagementWatch for excuses, look at actual performance numbers not managers suggestions
    Look at actual experience on job vs. where they came from?

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
           
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    • Senior Management
           
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    • Career Opportunities
           
    • Disapproves of CEO

     

    PHH LO

    Loan Originator (Current Employee)
    Jacksonville, FL

    ProsThe money when it is good and the people in the Jacksonville office

    ConsUpper management and the continuous talk of layoffs and the company being sold

    Advice to Senior ManagementAll Mount Laurel managers need to be relieved of their duties.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Sinking Ship

    Operations Supervisor (Former Employee)
    Jacksonville, FL

    ProsThe people (not senior management) that's it at this point.

    ConsThe people and culture was awesome when Terry Edwards was the CEO, the new leadership is terrible. Most came from GE and know nothing about Mortgages, they have managed to build a sweat shop and are now selling and laying off employees to make the books look good. They have had 3 layoffs since August of 2013, one right before Christmas (who does that?). No more client focused, if we did something wrong there is no ownership to make it right if there is a costs to the company. Frontline leaders, middle manager and VPs are not empowered. It seems like everything has to run through the SVPs.

    Advice to Senior ManagementWake up you are in over your heads and the company is losing integrity and good standing daily.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Not a great place to work

    Senior Analyst (Former Employee)
    Mount Laurel, NJ

    ProsOn site Cafeteria, Gym, Dress down days, Nice co-workers

    ConsHeavy traffic commute, Bias and favoritism from Senior Management, long hours

    Advice to Senior ManagementDuring my 5 years there, I had many good and bad times at PHH. I was not a "favorite" of senior management and therefore did not get as many promotional opportunities as I would have liked. If you were not one of the "friends" of the department VP's you got nowhere. If you had a family and couldn't come in early or work late every day, if you had to take time off to be a good mom/dad and care for your kids, or if you had to leave at 5 PM to make sure they were picked up from daycare/school, you were seen as not dedicated to the company or a hard worker. If you were a "favorite" this was OK though and didn't matter. Eventually I did get promoted, but the salary was low, and it wasn't in the area I wanted. Basically they offered me a promotion to a position I didn't want because they needed it filled, and they knew I had been trying to get promoted for years. It was basically either take this or stay at your current level for another 10 years.... I took it and hated it. Ended up leaving after less than a year in the job, and several blocked attempts to transfer out of the department. On the upside, I met tons of great people and had fun while working there with them.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
           
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    • Disapproves of CEO

     

    Good opportunities depending on mortgage rates.

    Mortgage Underwriter (Former Employee)
    Jacksonville, FL

    ProsThe initial training programs were decent. The software is ok. Some (not most) of the managers are excellent and very supportive. Our trainer was horrible but he doesn't work there anymore (quit before getting fired). The vacation time, relaxed atmosphere, and schedule flexibility were good. When they need people, you can almost do no wrong. This will change.

    ConsPHH doesn't pay as much as similar companies. Supposedly this is because it's easier to move up with them. However, continued training was virtually non-existent. Managers don't get paid extra for helping you and most get very bitter if you "waste" their time with even one question a week. They expect you to train yourself with an outdated manual and then blame you if you happen to interpret it in one of the 14 incorrect ways. If you do make a critical error, they won't tell you right away, to avoid conflict. This leaves open the possibility that you will make the same error before it's brought to your attention. To move up a fraction of a level, good luck. Even after you jump through all their hoops, they will drag their feet for 6 more months before they actually promote you. Managers know that the industry is cyclical and they will categorize employees early on. If you are slow in the first month, you will be forever categorized as expendable. Even if you are fast and efficient from the beginning, you still have a 50/50 chance of getting laid-off during the next round, depending on the team you were placed on. Despite what they tell you, it's up to your manager to decide who is laid-off (unless the entire team is no longer necessary). Managers use this to justify getting rid of employees who they don't like for whatever reason. They aren't required to do it based on production (I know this because two management emails were accidentally replied to all). From my experience and from what I've heard, most of the managers are divas, some more obviously than others. Best of luck to anyone who can put up with this. I mean that sincerely. Some people can and they've been there forever. Try really hard not to make any mistakes in your first month out of training.

    Advice to Senior ManagementSome managers don't need to change but the ones that do clearly are too in love with themselves.

    No, I would not recommend this company to a friend

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    • Culture & Values
           
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    • Approves of CEO

     

    Great job but poor middle management, team leader, team supervisors

    Mortgage Underwriter- Credit Risk Analyst (Former Employee)
    Jacksonville, FL

    ProsAbility to work home
    clients
    lunch room

    Cons-poor leadership at the associate level
    -poor benefit package
    -mid-level leadership lack communication skills. feel they must threaten your job in order to achieve results

    Advice to Senior ManagementDo not promote someone to a leadership position just because of seniority and they do not have leadership and communication skills.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
           
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    Great people and excellent training!

    Mortgage Underwriter (Former Employee)
    Mount Laurel, NJ

    ProsGreat people, decent benefits, very nice facility. Generally caring co-working and staff.

    ConsNot always reasonable production expectations (if quality was your tendency) especially in light of a CONSTANTLY changing departmental assignments and process changes.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Unstable but good

    Anonymous Employee (Current Employee)

    ProsGreat co-workers, good opportunities, great vacation and sick time and I love my position

    ConsThere have been 3 major layoffs reacting to the market in the past 3 years and there is always an underlying uncertainty with the positions. It causes a lot of stress and makes it hard to put your heart into the job.

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Glassdoor is your free inside look at PHH Mortgage reviews and ratings — including employee satisfaction and approval rating for PHH Mortgage CEO David Tucker. All 133 reviews posted anonymously by PHH Mortgage employees.