Summit Funding FAQ

Have questions about working at Summit Funding? Read answers to frequently asked questions to help you make a choice before applying to a job or accepting a job offer.

Whether it's about compensation and benefits, culture and diversity, or you're curious to know more about the work environment, find out from employees what it's like to work at Summit Funding.

All answers shown come directly from Summit Funding Reviews and are not edited or altered.

23 English questions out of 23

June 14, 2021

What are perks and other benefits like at Summit Funding?

Pros

Remote, competitive pay, simple job, good benefits

Cons

No training, disorder, the staff doesn't know basic closing regulations, unprofessional

Advice to Management

Train your staff to not just be button pushers. Oh and don't fire people who have to take off work for a serious family emergency

Remote, competitive pay, simple job, good benefits

June 14, 2021

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January 6, 2020

Does Summit Funding offer massages?

Pros

There's a Stockholm Syndrome-like camaraderie among the people that work here. It's almost like a team, but not really. There are some good people that work there still, but the company is actively working on pushing them out. Sometimes there are snacks. The coffee is free, but check the expiration date on anything else. You'll get a free lunch here once a month or so, which will make you wonder why they can brag about closing 500 million dollars in loans in their best quarter ever, only to deny you and all of your team any additional salary, training, or even the slightest perk. Pretty good work-life balance, but only because they have been sued so many times for the previous times they overworked people and didn't pay overtime.

Cons

It's a wonder this company stays in business. The President is a really good salesman that thinks he's a good president... He's not. At all. Do a search on recent lawsuits the company lost, or ask them about the office they rented next door at overwhelming expense only to renovate and abandon. Summit can't decided if it's growing or shrinking, and you'll never know either. It's all based on the bumbling President and his management training classes and nonsense. The loan officers run everything here. There's no business needs pushing the organization, it's the other way around. LO's do whatever they want. Do a search for the President on YouTube or elsewhere, and watch him bumble and try to be a "Mentor". It's hilarious. This is a sales culture. There isn't a wall in the building that doesn't have some sales mantra on there or other nonsense about what we can do to make the company better... Like I could make 25 phone calls a day to customers that want a mortgage! Well, no, I really can't because that's not my job. No one at the main office does that. But it's really important that you understand that if you aren't selling things that benefit the company, they 100% do not care about you. (Until they were all torn down and thrown away, even the restrooms had these sales nonsense mission statements and graphs all over them. In the stalls. You cannot escape it.) They will pay you the minimum you will accept. Promises will stack up from there, and if you are a truly stellar employee, you may get a 3% raise if they really pull strings. The end result is that anyone with even the slightest amount of ambition is gone. Those that stay are mostly incompetent just doing the bare minimum to get a paycheck and leave. If you're good at what you do and enjoy accomplishment, you will suffer for it here. Everything is done as cheaply as possible. After talking to some of the upper management, I learned this is all pretty much by design. I can't stress this enough: Every penny will be pinched here. If you need something to do while you find a better job, this will do. And you'll fit in well, since anyone smart that is still here is just searching for a way out. Meanwhile, the President and management will search out other companies that are "comparable" to Summit that operate on less people and use that as an excuse to hire less people when things are falling apart.

Advice to Management

Get the President to do his job running the company and selling things. Instead of having him watch every dollar in the organization. (All of you VPs and directors should actually demand this. Before he ignores all of you again and buys another awful lease next door that fails.) Allow departments to reasonably buy and spend as they need to, and revisit those decisions quarterly or yearly in a review... You know, like real companies do. The talent that you've squandered in the years I've been around is staggering. Pay people what they are worth, and actually hold them accountable. Foster an environment that rewards those that take on extra responsibility. Instead of having the President "coaching" by holding workshops about how people can live on a budget. (Translation: How to live on the terrible salary we pay you.) Why not just ask the people that are leaving how much they are getting paid at their new job, and pay that next time? Because retaining and onboarding have got to be costing you more than that. I've watched really good people leave over 5-10% salary... Literally a few bucks a check. The money you "save" by underpaying good people and keeping below average people is a bad place to be. Let people work from home. The office is a nightmare. I was able to work a few days a week remotely, unofficially, and it was the most productive I've ever been.

The coffee is free, but check the expiration date on anything else.

January 6, 2020

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January 4, 2021

How are career development opportunities at Summit Funding?

Pros

The culture within summit funding was great. Everyone that I worked with was very welcoming and supportive. There are lots of opportunities to network with other Loan Officers whether you are in the Summit Coaching Program or The Core Training.

Cons

I do think the onboarding and training process could have been better. I started out as a Loan Partner and worked in a fairly small branch. I had very little training and did not get to attend Bootcamp in Sacramento.

There are lots of opportunities to network with other Loan Officers whether you are in the Summit Coaching Program or The Core Training.

January 4, 2021

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January 4, 2021

What kind of career opportunities exist at Summit Funding?

Pros

The culture within summit funding was great. Everyone that I worked with was very welcoming and supportive. There are lots of opportunities to network with other Loan Officers whether you are in the Summit Coaching Program or The Core Training.

Cons

I do think the onboarding and training process could have been better. I started out as a Loan Partner and worked in a fairly small branch. I had very little training and did not get to attend Bootcamp in Sacramento.

There are lots of opportunities to network with other Loan Officers whether you are in the Summit Coaching Program or The Core Training.

January 4, 2021

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January 4, 2021

Does Summit Funding have any sort of mentoring program?

Pros

The culture within summit funding was great. Everyone that I worked with was very welcoming and supportive. There are lots of opportunities to network with other Loan Officers whether you are in the Summit Coaching Program or The Core Training.

Cons

I do think the onboarding and training process could have been better. I started out as a Loan Partner and worked in a fairly small branch. I had very little training and did not get to attend Bootcamp in Sacramento.

There are lots of opportunities to network with other Loan Officers whether you are in the Summit Coaching Program or The Core Training.

January 4, 2021

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23 English questions out of 23

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