PHH Mortgage Reviews in Mount Laurel, NJ

Updated August 9, 2014
Updated August 9, 2014
139 Reviews

2.8
139 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
PHH Mortgage President David Tucker
David Tucker
9 Ratings

Review Highlights

Pros
  • inbound leads potential to make 6 figures work life balance (in 7 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)

  • Upper management and the continuous talk of layoffs and the company being sold (in 5 reviews)

More Highlights

58 Employee Reviews Back to all reviews

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  1.  

    The most stressful job I ever had.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Processor  in  Mount Laurel, NJ
    Current Employee - Loan Processor in Mount Laurel, NJ

    I have been working at PHH Mortgage full-time

    Pros

    Opportunity to make good money when market is busy. Benefits are pretty good. Enjoyed working with co-workers and had some great supervisors.

    Cons

    No time for anything else but work. In order to get the job done you need to put in so many hours that you have no family time. Management had too many tasks that needed to be done daily. This type of job needs more flexibility on the reports so you can spend your time doing the job you were hired to do. High profile clients did not make the job easy and expect you to get it done quickly but they do not cooperate with what is needed to do the job.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2. 2 people found this helpful  

    Former Loan Processor Mount Laurel

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Slave  in  Mount Laurel, NJ
    Current Employee - Slave in Mount Laurel, NJ

    I have been working at PHH Mortgage full-time for more than 3 years

    Pros

    The people that I met in the 4yrs I worked there were amazing. .all gone due to layoffs or seeing how bad this company was so they left.. Very sad and disappointing. I did learn 3 different positions while I was there which was great but my last position I had I was "forced" into due to Correspondent Channel purposefully being shut down. But what a wonderful group of team players I had the pleasure to meet and become friends with.

    Cons

    I don't know where to begin. Management was horrible, never around for tough decisions that workers could not make or were not allowed to make. As a LP I witnessed people crying, slamming their desks, getting up to leave for a break or just never coming back, watching people walk down to the lobby for ambulances because they were embarrassed to be taken out on a stretcher from anxiety attacks. People going on leave from anxiety most likely due to having a pipeline of 80 loans all while doing 4-5 reports a day for management for rate expirations where you were written up and fired after a certain amount of write ups. . PHH hired people off the street for loan processing with no experience. Myself and other experienced mortgage professionals were thrown in a class with these people who were ignorant and disrespectful to the trainer, people in the class on their phones and tablets playing games,shopping online and being late to class in morning and after lunch. The only reason I mention this is when they got up on the floor they were deer in head lights, stayed for 3 months just enough to build a significant pipeline to turn around and leave, which created reassigns for the REAL loan processors to take over. NIGHTMARE. Ridiculous customer service goal of 95% when all the blame was on you no matter what happened in the process...from the loan officer acting rude to the appraisal coming in low to our own management not being around for help when borrowers were at the table to subordinations taking 4 months to come back..... That was ALLLLLL the processor's fault, but the loan officers got paid on closed loans no matter what. Rearrangement of comp plan was so confusing that processors said "well looks like I'm depending on OT from now on" Horrid place to work. Company is being run into ground. If you have plans to get a job here or a recruiter calls you don't do it. Horrible management that lookout for friends and talk behind your back, start drama and are incompetent. I've worked in the mortgage biz for 15 yrs and have never seen anything like it. most unproffesional company I have ever had the displeasure to work for. Being investigated now for mortgage insurance kickbacks. Just a shady shady company.

    Advice to ManagementAdvice

    You're not management in the real sense of the word. Stop playing on your cell phones, texting and IM'ing your other "management" friends and take time to answer questions. I have never met a more unprofessional, immature group of teenagers in my professional career.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Great Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Processing Assistant  in  Mount Laurel, NJ
    Current Employee - Loan Processing Assistant in Mount Laurel, NJ

    I have been working at PHH Mortgage as a contractor for less than a year

    Pros

    No micro managing, an abundance of hours, ample overtime

    Cons

    Not much room for free time

    Advice to ManagementAdvice

    none

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Up and down market, but overall good place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Mortgage Loan Processor  in  Mount Laurel, NJ
    Current Employee - Mortgage Loan Processor in Mount Laurel, NJ

    I have been working at PHH Mortgage full-time for more than a year

    Pros

    opportunity to learn all aspects of mortgage industry

    Cons

    benefits and management can be better

    Advice to ManagementAdvice

    management training and etiquite

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Management could do better in the decision making process and addressing employees concerns

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Finance  in  Mount Laurel, NJ
    Former Employee - Finance in Mount Laurel, NJ

    I worked at PHH Mortgage full-time for less than a year

    Pros

    work life balance, Flexibility and some benefits

    Cons

    Executive management do not clearly consider the effect of short-term decisions on employees welfare.

    Advice to ManagementAdvice

    consider the effect of short-term decisions on employees welfare.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    I enjoyed my time with PHH Mortgage Corporation.

    Former Employee - Senior Team Associate  in  Mount Laurel, NJ
    Former Employee - Senior Team Associate in Mount Laurel, NJ

    I worked at PHH Mortgage full-time for more than a year

    Pros

    I enjoyed working with the other employees and I especially enjoyed working for my immediate supervisor. The overall job experience for me was enjoyable.

    Cons

    You never knew when you were going to be let go. I went into work one day thinking I was going to be employed there for a long period of time and by lunch approximately 300 of us were unemployed because they claimed it was a business decision

    Advice to ManagementAdvice

    Don't play with peoples lives. Your employees have families and bills that they are responsible for.

  8. 1 person found this helpful  

    PHH Mortgage....A great place to be laid off from

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Processor  in  Mount Laurel, NJ
    Former Employee - Loan Processor in Mount Laurel, NJ

    I worked at PHH Mortgage full-time for more than 3 years

    Pros

    A great place to get your start in the mortgage business. They offer training and opportunity to those new in the business.

    Cons

    If you are looking for stability or a place to have a career as opposed to just a job THIS IS NOT THE PLACE FOR YOU! The turnover rate due to lay offs is unimaginable. We are talking everyone from regular workers to Supervisors and Managers. This is a place that expects loyalty but does not give it in return. I will always be grateful to PHH for giving me my start in mortgage, but will never forgive them for the predicament they have left myself and my family in. At PHH its all about the bottom dollar...

    Advice to ManagementAdvice

    Be upfront with your employee candidates. Let them know what they are potentially getting themselves into...

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Case Manager  in  Mount Laurel, NJ
    Current Employee - Case Manager in Mount Laurel, NJ

    I have been working at PHH Mortgage full-time for more than 3 years

    Pros

    Room for Advancement
    Ok pay

    Cons

    Poor management
    Poor communication
    Poor employees

    Negative Outlook
  10.  

    Achieve great experience but unable to have work-life balance.

    Current Employee - Mortgage Processor  in  Mount Laurel, NJ
    Current Employee - Mortgage Processor in Mount Laurel, NJ

    I have been working at PHH Mortgage full-time for more than 3 years

    Pros

    Good leadership and team work

    Cons

    Unable to have a work life balance because a loan processor is just a number in the computer system. Not treated like an individual when it comes to taking on additional work load.

    Advice to ManagementAdvice

    Hire more people

  11.  

    Decent employer, great facilities, too many temps and turnover with market.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Pricing Representative  in  Mount Laurel, NJ
    Former Employee - Pricing Representative in Mount Laurel, NJ

    I worked at PHH Mortgage full-time for more than a year

    Pros

    Good salary and decent benefits for full-time employees ( not temps). Gym, post office, store, cafeteria on site. Most employees are friendly and professional.

    Cons

    Large company that hires many temps. Temps are subject to reduced pay/hours/benefits/job security. Too much turnover based on market conditions. Company is so large that contacts are spread out. Human resources not easily accessible.

    Recommends
    Neutral Outlook
    Approves of CEO

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