PHH Mortgage

www.phhmortgagesolutions.com

PHH Mortgage Reviews

Updated January 30, 2015
Updated January 30, 2015
163 Reviews
2.6
163 Reviews
Rating Trends

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

Review Highlights

Pros
  • inbound leads potential to make 6 figures work life balance (in 8 reviews)

  • Great co-workers and positive supervisors (in 4 reviews)


Cons
  • Empty promises, constant changes in requirements, poor training, favoritism, no work life balance (in 5 reviews)

  • The turnover rate due to lay offs is unimaginable (in 5 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Been with the company for 20 years, obviously satisfied, but company changing corporate structure.

    Current Employee - Mortgage Advisor in San Diego, CA
    Current Employee - Mortgage Advisor in San Diego, CA

    I have been working at PHH Mortgage full-time (more than 10 years)

    Pros

    Large company with excellent structure and technology.

    Cons

    Too large. Lacks customer focus.

  2.  

    Work Culture

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Mortgage Loan Officer in Sacramento, CA
    Current Employee - Mortgage Loan Officer in Sacramento, CA

    I have been working at PHH Mortgage

    Pros

    Ok compensation and benefits

    Cons

    Bad management. Very difficult to establish relationship with agents because they don't like PHH. Good products but to much politics.

    Advice to ManagementAdvice

    Get to Know your employees

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  3.  

    Sr Loan Processor

    • 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

    Pros

    I enjoyed working for the companies. The companies are customer service driven and they come first they have great morals and values,

    Cons

    Assisting customers and having products knowledge after the extensive training.

    Advice to ManagementAdvice

    Working with management that are willing to listen and assist in any area needed.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Good place to work

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

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

    Pros

    Good pay and great co-workers. I liked working there but would not consider returning due to their layoffs

    Cons

    The company has a hard time projecting future business. They hire in mass and layoff as soon as it slows down.

  6.  

    Great people to work with.

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

    I have been working at PHH Mortgage full-time (less than a year)

    Pros

    Professional building, great resources, strong teams, fair benefits. I had great managers and a team with enough experience processors. I was able to ask questions and they were able to help me. In the beginning there was plenty of work available. The floor would create plans to motivate everyone and produce more. At heavy time they offered overtime without going through hoops if you want the extra hours. Individuals are respectful. Of all the call center experience this location had the most professional group of people I have worked with.

    Cons

    Training still has some kinks to work out. Possibly should consider hiring less and provide longer probation/training period to ensure a hire success rate on the quality of work that is generated. If the company prefers to employ large numbers of agents when market is up, they could consider hiring contract to permanent position.

    Advice to ManagementAdvice

    The company has many obtainable opportunities with or without formal education. The current management has the ability to make PHH on of the best companies to work for but are limited by the business strict guidelines.

    Recommends
    Neutral Outlook
    No opinion of CEO
  7.  

    Fairly nice

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at PHH Mortgage

    Pros

    Rather nice experience working there. Management was for the most part understanding, and if necessary would allow people to take off. But, you had to work hard alot of overtime.

    Cons

    Layoffs happened rather quickly and often, or maybe that's just the corporate lifestyle.

    Neutral Outlook
    No opinion of CEO
  8.  

    They expect you to accomplish goals that are not made clear to you.

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

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

    Pros

    You will work with some great people more than likely. Unfortunately the work environment takes a toll on everyone. It becomes stressful with lay-offs that have no rhyme or reason.
    Work Life balance is good.
    The training is decent. The programs are not difficult to learn.

    Cons

    Management. There is no reason to expect your team to succeed when management either 1. doesn't like their job or 2. has no idea what they are doing. They will have you running in circles to try to keep clients happy, even if this means doing pointless and legally unnecessary things. One day you are told to do something- the next day you are told that was wrong and to go back and change everything. Just to have this happen over and over until no one knows what is going on. It's impossible to advance or even do well at your task if the people higher up don't make some decisions ( and remember what they had decided a few days later).

    Advice to ManagementAdvice

    Get it together.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9.  

    Stress, stress, stress.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Advisor in Columbus, OH
    Former Employee - Mortgage Advisor in Columbus, OH

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

    Pros

    You can pretty much freelance between real estate offices, at your behest. You're self managed. Oh and there is a small bonus/base pay for your first few months, which under no circumstances will be extended beyond the first few months of your employment- so you had better be licensed and ready to roll out of the gate....

    Cons

    Everything else. The income is horrible. The processing department is a joke. No base pay(even though you're licensed as a 'branch manager'...). So-so benefits. You have to spend your own money to drive business, I personally spent thousands of my own dollars trying to build a client base. No vacation time- because you're constantly supposed to be 'on call', in fact you are supposed to advertise that you are available 24/7- which is impossible. The laptop they give you is crap. The phones they give you never work.. I went through 4 phones during my short lived term there because the company is cheap and buys the cheapest phones available. The management team is always making promises that they don't keep. The income is horrible. Very stressful if you only intend to work 50-55 hours per week, because you are literally trying to do everything yourself. You had better be a good marketer, salesman, IT professional, processor, underwriter, HUD analyzer, closer, post closer, customer service agent, apologist, etc etc. Too much work (way too much), too little compensation (way way way too little).

    Advice to ManagementAdvice

    Pay your sales employees what they are worth, or at least come close to what the competition is offering. Outsource processing and closing departments to somebody who knows what they're doing. Fire regional managers and regional vp's who work less than the LO's who they are in charge of. Regional manager was practically a 'no show' for the last 6 months I was there, oh and I don't know how many times I saw pictures of my regional VP on vacation and posting about it on Facebook. It must have been at least a half dozen times. Hey, at least somebody was getting paid off of all my closed business, must have been nice!!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10.  

    processor

    • 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

    Pros

    Compensation is good, location is lovely (if you do not mind a congested area at rush hour)

    Cons

    benefits, management, frequent layoffs, no life/work balance, favoritism
    much overtime required and often company says not warranted. Company will force you to work faster and harder with little to no extra compensation

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Company is Restructuring--Reconsider

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

    I have been working at PHH Mortgage full-time (less than a year)

    Pros

    Facility in Mt. Laurel is lovely. There is a solid on-site cafeteria and fitness center (with shower facilities). Employees encouraged to get up and walk during the day--there are discounts on healthcare for healthy habits. Company brings in vendors during lunch hour, so there are opportunities to buy unique gifts on premises. There is a convenience store on premises that sells snacks, coffee, stamps, and discount tickets to movies and amusement parks (you don't order them--you can get them same-day). Parking is ample.

    Cons

    Antiquated processes; antiquated computer equipment; low morale. Company uses browser versions that are no longer supported. What I found to be the most challenging aspect of PHH is the attitude of the long-term employees. Many have been there for 15 years, and they perform business processes like they were done 15 years ago. No fresh thought really welcomed. Project Management Office ineffective--they have a paper-based "Air Traffic Control Room" where statuses of all company projects they manage are displayed on the walls--and they update the paper status dots each week. It takes 3 employees to maintain the statuses of the room. The PMO thinks this approach is cutting edge-and it's laughable. Sad thing was this room was the brain child of a C-level executive and an experienced VP. Meetings are run ineffectively. Meetings are often off-track and people bs statuses. Poor work ethics tolerated! Some great people remain in the rank and file, but the truly gifted have left for more stable firms. PHH is flush with cash from the sale of the Fleet division, but once that runs out, then the outlook is grim. 10-12% layoffs to be happening in 1Q 2015. If you have other options, seriously consider those options. Back-biting beginning occurs within the rank and file--employees very political to save their jobs. Lots of kissing up to higher management.

    Advice to ManagementAdvice

    Management should set the tone and lead by example. I was unimpressed with the leadership displayed by high-level managers. Stop the cronyism/nepotism and bring in people that have true talent. A bit too late to be updating computer systems now--the systems should never have been left to fall so behind. Move away from a paper-based PMO. It makes the company look old-fashioned and, quite frankly, silly in this day and age of advanced dashboard creation.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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