Vericrest Financial

  www.vericrestfinancial.com
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Vericrest Financial Reviews

Updated Apr 23, 2014

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All Employees Current Employees Only

2.6 5 reviews

50% Approve of the CEO

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Joe Anderson

(2 ratings)

40% of employees recommend this company to a friend
5 Employee Reviews
Relevance Date Rating
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great experience, with the company and colleagues.

    Anonymous Employee (Current Employee)

    ProsApproachable management, not cut throat relaxed atmosphere. Plentiful bonus structure, good base salary.

    ConsNot much time off, no sick time given we get 10 hrs of PTO monthly

    Advice to Senior ManagementN/A

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    very poor

    Vice President (Former Employee) Dallas, TX

    Prosgreat work life balance because not too busy because not a very large portfolio

    Consvery poorly capitalized. Grow, lay off, grow, lay off

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Miserable

    Anonymous Employee (Current Employee)

    ProsThere were literally no pros

    ConsI need to say everything

    Advice to Senior ManagementTreat your workers like people and stop firing people only to offer a rehire so you dont have to pay medical

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    2 people found this helpful  

    Was a good place for entry position

    Collection Specialist (Former Employee) Oklahoma City, OK

    ProsIt is a good platform for people looking for a long term career in the mortgage industry. I worked there 3 years and it was a whole new learning experience for me. I came in with no prior experience and was trained from the ground up. My bonuses were excellent. I didn't have any problems with the payout. As long as you come in ready to work and with a good attitude, the management team is a great help and source of information.

    ConsThe base pay is less than what I made (but I made up for that in bonuses). Yes it is micromanaged, but most call centers are. As for layoffs, there was always rumors, but the company has actually expanded. Many of the employees in the 2010 layoff that I had spoken with (foreclosure department) were very pleased with their severence package and was greatful, one even posted on Facebook how tactfully they broke the news of the layoff. Layoffs are just the nature of the beast and will happen in any industry, especially mortgage. The collections department can be very stressful because of the economy. The bonuses are based on call quality, one call can eliminate your bonus.

    Advice to Senior ManagementKnow that the atmosphere can be stressful and accomidate for that. While we were told there was an open door policy with upperlevel management, some of the upper management did not present this atmosphere. Make yourselves more approachable.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    1 person found this helpful  

    I would NEVER go back there

    Loan Specialist (Former Employee) Oklahoma City, OK

    ProsPretty easy for anyone to land a job at Vericrest; their standards on who they hire are not the most strict out there.

    ConsThey rolled out a new incentive plan to make us work harder but receive larger bonuses. Well turns out that we were doing so good and hit all of our numbers that Vericrest decided they were not going to pay out the bonuses as promised. They waited 4 days before the quarter ended to tell us that our bonuses were being cut in half. Then, there was a large layoff in June 2010. People that had worked there for 20+ years were also part of that group. They changed the severance packet in March 2010 (conveniently before the layoffs) and they capped the weeks paid, so all the people that had worked there for a long time were out of luck. They are outsourcing jobs. They also cut our paid time off days to almost half. Now paid time off is for vacation, holiday and sick leave, so must be used wisely. If you don't want the occurrence, you must know that you are going to get sick the next day and to notify your manager 24 hours in advance that you are going to get sick the next day and cannot make it to work. A doctor’s note doesnt help at all. You get an occurrence even if you have accrued paid time off. You get written up if you clock in 1 minute late, even if the old computer froze and you were there on time. You cannot clock in early or you will get reprimanded since there is a strict 40 hour week rule- I really mean 40.0 hours exactly. I actually had a manager go to my time sheet and deduct time to make it a 40 hour even week (happened several times). Oh and I forgot to say that managers micromanage. They only write up the people that they don’t like and let others slide by. Twice during my stay they made a mistake on our paycheck and withheld our pay. It took them a couple of days to correct and pay us. Of course Vericrest didn’t even apologize or reimburse us the late fees we incurred due to their mistake.
    This is the only company that I’ve worked for that I would NEVER go back.

    Advice to Senior ManagementDo a little research on why there is such a high turnover rate in the company. Try treating your employees better so they can stay

    No, I would not recommend this company to a friend

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