PHH Mortgage

  www.phhmortgagesolutions.com
  www.phhmortgagesolutions.com
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PHH Mortgage Reviews

Updated September 10, 2014
Updated September 10, 2014
142 Reviews
2.8
142 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
PHH Mortgage President David Tucker
David Tucker
10 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

Employee Reviews

Sort: Popular Rating Date
  1.  

    Internship

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    I had a good salary while i was an intern there.

    Cons

    Can't really think of any .

    Doesn't Recommend
  2.  

    Good

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at PHH Mortgage

    Pros

    Facilities and pay structure were good

    Cons

    Multiple tiers of management created inefficient oversight

  3.  

    Not a good company work for long time

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

    I have been working at PHH Mortgage part-time

    Pros

    work-life balance is ok, company provide onsite gym.

    Cons

    Company is very unstable not sure what is going to happen tomorrow. Everybody talks about process but nobody sticks to it, every manager is trying to work around it to meet the deadlines and putting extra hours and pressure to the team members. Everybody is scared to provide their timelines. Company has lots of contractor and it is kind of revolving door.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5.  

    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
  6.  

    Loan Processor

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at PHH Mortgage

    Pros

    -Great pay
    -Always learning new things
    -Great training

    Cons

    The workload can become a lot at times. You need to be very organized in order to make it. You will also need to be able to handle working with a lot of frustrated borrowers. Many of them that are refinancing don't understand that mortgage lending has changed and it is a much longer process then when they bought their home.

    Advice to ManagementAdvice

    Stop with all of the spreadsheets and reports. They take away managements time to help their teams and it takes away the loan processors time with the borrower.

  7.  

    No Employee Loyalty, everyone is just a warm body in a seat.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Mortgage Underwriter L3B  in  Mount Laurel, NJ
    Former Employee - Senior Mortgage Underwriter L3B in Mount Laurel, NJ

    I worked at PHH Mortgage full-time for more than 10 years

    Pros

    you will meet some nice co-workers to be in misery together. If you are a vampire it's perfect because you won't see much daylight.

    Cons

    Plenty of mandatory overtime. They will throw you a bone and buy lunch or dinner from time to time. But don't get in line too fast, Management likes to eat first so they can leave. Reviews are a recap of any mistake you may have made. There is no positive reinforcement at all. The review process is structured to look for faults. There are favorites so the team concept is a charade. They will bring in new hires and let the seasoned team players go without a tear in their eye. Been there 10+ years... work my butt off , even traveled for them and thought I was kind of safe. But nope, I got my box just like I was another number. I gave up so much of my personal family time, missing my kids grow up and it just didn't matter. The base salary is far below what other companies offer. the bonus incentive is not for everyone. If you work for difficult area you can't reach the incentives that the processors in the easy areas can. It's great having a team lead who has never held the position they manage. No idea how to do the job but they can lead. Some can't even maneuver the system. it's a circus.. I dreaded it everyday.

    Advice to ManagementAdvice

    rethink the wall with the Mission Statement. What Terry Edwards set In motion, has been dismantled. What's the point of keeping it on the wall if you truly don't care about your employees.. Layoff people and then a month later hire new people? why wouldn't you offer jobs to the people you claim to care about.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Great place to train not good for long term

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at PHH Mortgage

    Pros

    Great training program the best one I've seen in a while.

    Cons

    There is no room from growth the large company operates on a buddy system they promote friends instead of the best candidate.

    Advice to ManagementAdvice

    Review resumes not friendships and add diversity to your culture

  9. 2 people found this helpful  

    Stressed and Overworked

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

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

    Pros

    Generous Salary (if you exceed the 6 month mark)
    Paid Training
    Gym on site
    Relaxed Business Casual Dress Code

    Cons

    Extremely steep learning curve
    ‘Sink or swim’ mentality from L&D once on the floor
    Unreasonable expectations from upper management
    Frequent lay-offs

    The eight weeks of training were a breeze, then it was like 'deer in the headlights' once I hit the floor. The workload just kept piling up (and not easy loans...subordinations, trust funds, multiple rental properties for income, etc.) and before I knew it I had more loans than I could competently process. I left voluntarily before I reached my six-month mark and beat myself up about for a while, thinking I was a failure for not sticking through it and sucking it up until I learned how to get the job done. About three or four months after I resigned about a third of the company was laid off, and my entire training group of 25-30 with went with them (and I would have been included if I were to have stayed).

    Don’t be deceived during the interview process. I thought I had really ‘stood out’ and accomplished something when they offered me the position, only to come to find out that they were hiring ANYBODY and EVERYBODY only to let them go in less than a year later. Everyone has their own opinions and some will say every job is tough, you just go to stick through it until you figure out it….I have an MBA and was used to working 60 plus hours a week in the business world but the stress never came close to what I experienced at PHH.

    Note to reader – If you decide to pursue an opportunity with PHH, take what they give you in training with a grain of salt (a lot of book material, very little hands-on preparation) and don’t be afraid to make mistakes and know you’re going to have to learn from them. It’s a lot of figuring the job out for yourself….

    Doesn't Recommend
    Negative Outlook
  10.  

    A good company that fell victim to the Mortgage meltdown and management upheaval

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at PHH Mortgage

    Pros

    Good office conditions. Good location.

    Cons

    Major management changes, from CEO on down, were/are a big problem.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Loan Originator

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at PHH Mortgage

    Pros

    For those starting out, they do provide excellent training. They treat their employees fairly well, but unevenly depending on which department you are in.

    Cons

    New Management in place seems to be solely focused on selling the company then managing the work force. It's difficult for a company of this size to manage due to the cyclical nature of the business, so they have let many people go in the last 2 years.

    Negative Outlook
    Disapproves of CEO

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Small Office inside locate Realty Company

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