Prospect Mortgage

www.myprospectmortgage.com
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Prospect Mortgage Reviews

Updated April 16, 2015
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3.6
63 Reviews
Rating Trends
Recommend to a friend
Approve of CEO
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Ron Bergum
29 Ratings

Pros
  • Generally friendly atmosphere, lots of great people (in 4 reviews)

  • Great technology available to market yourself as an LO and retrain (in 2 reviews)

Cons
  • Extremely unprofessional HR, inadequate upper management, expensive health benefits, etc (in 3 reviews)

  • Poor senior management, poor HR practices (in 2 reviews)

More Pros and Cons

Employee Reviews

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  1. Friendly atmosphere with amazing staff

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Receptionist in Westlake Village, CA
    Current Contractor - Receptionist in Westlake Village, CA

    I have been working at Prospect Mortgage as a contractor (less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    There is always room for growth and are willing to train the right people

    Cons

    There has not been any downside to working here

  2. Good Company, Bad culture

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

    I have been working at Prospect Mortgage full-time

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    The people are nice, and the managers I worked with were very hands-off (no micromanaging).

    Cons

    No real raises/bonuses/etc in 2 years of working here. Not really a place that I'm excited to come to work.

    Advice to Management

    Focus more on your employees. Make work a pleasant place to be. Doesn't have to be amazing, just not emotionally detrimental.

  3. Closer

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Prospect Mortgage

    Pros

    Excellent closing manager for mid and northwest.
    Casual environment.
    Can make great $$$$ with bonus structure

    Cons

    L.O's rule the volume and managers.
    High stress level, answer for Prospects way to deal with the stress, lets all meet at the bar, courtesy of ops manager. Unfortunately, we
    No team work, its who can make the highest bonus hence, everyman for himself.
    Ops midwest manager is a cheerleader and great party coordinator. Shouldn't be in Mortgage industry, would be better off coaching high school sports and/ or bartending at night. Drinks are of plenty, while others are drowning in work.

    Advice to Management

    Get a real ops manager for the Midwest. Someone that can make decisions without an underwriter IV giving all the answers. Someone that is a true professional, not a little league coach and who's going to the bar after work.

    Needs better work/life balance for all of operations.

    Stop letting L.O. 's whine, complain and threaten to quit. Let them quit. L.O.' are a dime a dozen.

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  5. Forward thinking company that is focused on enhancing employee growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Recruiter in Irvine, CA
    Current Employee - Recruiter in Irvine, CA

    I have been working at Prospect Mortgage full-time (more than 5 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Management cares about their employees. We are a valuable asset and treated as such. Prospect treats us as if we were family and provides great benefits too.

    Cons

    I have not experienced any challenges in my role.

    Advice to Management

    Please continue our current path of growth in the marketplace.

  6. Great company with great people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Officer Assistant in Sherman Oaks, CA
    Former Employee - Loan Officer Assistant in Sherman Oaks, CA

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Truly a team environment with newcomers welcome

    Cons

    Some favoritism towards certain staff

    Advice to Management

    Work on making sure that the people who have the best leads and best regions aren't solely favored. If not, most take their business elsewhere with them

  7. Great company with great people

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The environment is unlike most banking and mortgage institutions. The people really work together and do everything possible to help you out

    Cons

    Some things could improve, like who ends up getting which loan officers, regions, etc. You are thrown into the situation and that is it.

    Advice to Management

    Maybe train those newcomers a little more.

  8. Challenging work environment, but can be rewarding

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

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

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    You get to drive your own success. Very little oversight (at least in my office). Good marketing and support systems.

    Cons

    100 percent commission based. As a recent college graduate moving to a new city, I simply wasn't able to make enough money to live and had to leave to find a job with better pay.

    Advice to Management

    If you're hiring straight out of college, put a system in place so that new hires can build up a client base. Otherwise they'll be out due to the pure commission.

  9. The COO, Amy Brandt is the brain and sunshine of the company.

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

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

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    The company wants to strive together to make money.

    Cons

    The salespersons and their managers are not fully on board to be inline with compliance.

    Advice to Management

    Take heed of what happened when we all experienced the mortgage bust. Just because you stayed open doesn't mean you can do business like you did before.

  10. The team work and management in the Marketing department is a pleasure to work with.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Manager in Sherman Oaks, CA
    Current Employee - Senior Manager in Sherman Oaks, CA

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Ability to be creative and wear a lot of hats. Wonderful bosses to work with. Having fun working on and at events.

    Cons

    Medical benefits is not fully covered. Still have to pay quite a bit out of pocket. I understand to pay more for spouse, but employee should be covered more.

    Advice to Management

    Human Resources need an awards program for years of service like they did under Metrocities Mortgage. When going public, offer stock shares to employees.

  11. Had a nice time.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Scanning Coordinator in Sherman Oaks, CA
    Former Contractor - Scanning Coordinator in Sherman Oaks, CA

    I worked at Prospect Mortgage as a contractor (less than a year)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Friendly employees and boss, no stress environment, well instructed on what to do.

    Cons

    Promote employees or raise their salary if they have been working there for more than five years because they may be committed to the company and those employees who actually are outstanding at their job.

    Advice to Management

    Nothing to share.

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