PHH Mortgage Reviews

Pros

decent pay and vacation time- 1 day=month worked after first six months. promoted after showing worth.

Cons

lay-offs on any slow down of business, lay people off and hire them back a few months later to delay promotions. stressful job have to be superhuman, any mistake that can cause in a loan repurchase can cost you your job. stressful in team environment seems to be very much underwriter Vs. processor---team leaders are processor based and some put pressure on underwriters to go against out requirements.

Advice to Senior Management

have the guidelines resource updated to reflect the exact requirements of data faster. sometimes they come out with additional guidelines that take months to hit the resource. Hire additional UW's to take the stress of huge pipelines. Get rid of SGS!!

Pros

Culture, Free coffee, well established company

Cons

Business can be slow causing work to drag

Pros

great for someone just starting out but not a place to stay at for years and years because there's only so much room to move up.

Cons

pay is mediocre compared to the rest of the company and each not enough team work involved. Would be better if all departments sat closer together to get to the end result

Advice to Senior Management

Stop trying to fix things that aren't broken. Before moving on to add new things to the platform, fix the things that aren't working correctly. This is mainly having to do with the origination software.

Pros

I was fortunate to get to work with 2 of the best gov't LMC processors and the best LMC manager in the company!!

Cons

They took away the an awesome health insurance package and replaced it with a much more expensive package with a fraction of the benefits.

Pros

- Able to close loans in 30 days.
- Technology
- Paperless
- Not micromanaged
- Reasonable minimum volume expectations

Cons

- Multiple operating systems
- No management support or involvement unless you are NRT or Brands
- Little or no name recognition as a Retail PHH name brand
- Very little flexibility with pricing
- Training & company knowledge is weak

Advice to Senior Management

- People need to know who PHH Mortgage is so the PHH Mortgage (Retail) has a fighting chance
- Regional Managers are spread to thin & are very ineffective & unable to be involved or offer any support to Mortgage Advisors in the field.

Pros

Health benefits package is pretty good. Lots of vacation, sick and personal (floating holidays) time available. Upfront training was good. Possibility of telecommuting in the future is nice.

Cons

I think they could have chosen a health insurance with a lower deductible, seem to be trying to get something cheap. Long time workers seems to grip a lot and seem to work a lot of overtime.

Advice to Senior Management

Walk around the floor to get a feel for employee moral and to hear the cursing and complaining by long time employees.

Pros

office work
8 hours work
easy to do and fast to learn
some people are nice

Cons

low standards
learning or advancement is not offered
people are taught by the book, but not on the floor

Advice to Senior Management

N/A

Pros

A great place to gain experience in the mortgage industry if you don't have any. They will pretty much hire anyone and if you can prove yourself competent you can gain experience to further your career elsewhere.

Cons

Everything is a secret. You never will get a straight answer to ANY question you ask, so it's not worth your time to ask. They never tell you exactly how you are performing unless you work in loan processing then you will get daily kudos.

Advice to Senior Management

I would suggest they spend more time engaging employees and providing the necessary tools and support for employee development instead of looking at reports because people know how to get around reporting.

Pros

Great people, very frendly and outgoing. laidback enviornment

Cons

Long hours, poor health benefits. work can be very repetitive.

Advice to Senior Management

Keep up the good work.

Pros

The team players have such a drive and passion for what they do. They take great pride in the work the deliver.

Cons

Often times the answer given is - "that is just how we do it". Too afraid of change and do whatever is takes to get something done, even if it means manual work and overtime pay.

Advice to Senior Management

Create a group that thinks about how PHH can drive change. Automate systems and stop independent spreadsheets for tracking and reporting.