Wilshire Credit Corporation Reviews

Pros

Location to vicinity, Extremely friendly and professional staff. Exceptional leadership.

Cons

Direction came from two different sources. Parent company and local leadership.

Advice to Senior Management

Provide filtering from Parent company discrepencies in direction.

Pros

If you are looking for call center or interdepartmental job, its friendly and nice place to work if you want live in portland. If you work in a job that deals with management, it is a farm. Very unprofessional.

Cons

Unskilled management(lack of education). Lots of interdepartmental conflicts and arguments. Very stressfull work environment. The employee turn over is very high but in company statistics they find way to make that statistic blend with the call center stats.

Advice to Senior Management

Communicate to your employees, find ways to keep good people.

Pros

Still financially stable, even after Merrill Lynch was acquired by another company. Some departments do promote from within, and seemed to try to grow their employees. Senior management is knowledgeable, and although employees might wish for more communication from them, they probably do as well as senior management at any company of their size at communicating with the staff at large.

Cons

Mostly judging by lunchroom discussions, some departments seem to be dead-ends. Transferring between departments doesn't seem as easy as it should be.

Advice to Senior Management

Um, congratulations on being stable working the sub-prime mortgage sector of the economy? You're obviously doing something right, because I'm sure I couldn't do it.

Pros

Wilshire has been around a long time in various manifestations and has managed to survive, at times bouncing back from certain death. Employees at the bottom of the ladder are mostly great people to work with.

Cons

Expectations are high for new employees and the training and support from management is sketchy at best. Even when large numbers of new procedures are added (and revised a number of times), the newer employees are expected to meet the same standards as employees who have been there a long time. The pressure to meet the numbers causes poor customer service and lower productivity. Turnover seems to be pretty high, as does dissatisfaction and frustration at the lower levels.

Advice to Senior Management

Take a good look at the employees who really make it all happen - the ones at the bottom. Value the ones who are really trying, who are dedicated to getting it right. Value their strengths and give them the time and training needed to do the job right. Short term fixes cause more short term employees. Turn over is costly; and so is a bad reputation.

Pros

There is a frenetic environment filled with can-do people at Wilshire. The compensation is acceptable and the benefits are generous. They treat there employees well.

Cons

The productivity demands are enormous. There is an extraordinary amount of information to know and the changes to processes and procedures are daily. The training of new employees is lax.

Advice to Senior Management

The can-do attitude is great but the desire to respond to a given problem often appears reactionary and poorly thought out. Jay Memmot inspires terrific confidence as the CEO. He is the smartest person in every room and is sincere in his personal investment with Wilshire.

Pros

Can't think of anything. Better than McDonalds? Good name recognition in the financial services industry.

Cons

Cold, uncaring, arrogant management. Unless you are in the NY office, you are nothing and treated like the ugly stepchild. Funding for projects, much needed employees and resources, etc was not provided and they were content to let us struggle, with people working overtime as standard procedure. Management lacked vision and were constantly fighting fires without a commitment to a long-term strategy to improve it. They have problems retaining employees and yet won't approve replacement positions -- making a bad situation worse.

Advice to Senior Management

Have a heart.

Pros

Owned by parent company Merrill Lynch, which provides great benefits.

Cons

Managment is ineffective. Also pay and bonus pay is not related to performance. Technology is very poor and people in management fail to grasp even basic MS Excel use. People seem to be hired based on who they know as opposed to what they know. There is little oversight in professional integrity involved in loan servicing and loss mitigation departments.

Advice to Senior Management

They need to take a hard look at the type of people that are hired. Better training needs to be a priority. Underwriting integrity of LWO deals is practially non-existant, which could lead to legal trouble if something were to go wrong.