I have been working at HomeStreet full-time (More than 5 years)
For a Loan Officer, the compensation is above average, benefits including 401k are also above average, and the product mix is one of the most diverse in the industry. The reputation in the community is also very positive. I admire the company's selectivity in hiring and feel that I am surrounded by the best of the best in our industry.
The technology is terrible, most notably our origination software which is antiquated. Also, there needs to be more support or tools to help elevate solid producing Loan Officers to the next level.
The biggest hindrance to a Loan Officer at Homestreet achieving the next level of production is how they handle the Loan Officer Assistants. They put monthly quotas on the Loan Officer to determine whether the company will cover that assistant's salary that month or whether the Loan Officer has to pay that assistant out of his or her own pocket. That is appalling to me.
Everybody has a down month now and then, and many times it is due to events beyond your control.
Thus, when a Loan Officer has a down month, the Loan Officer, in turn, earns a lower commission for that month. That is never a good thing when one is straight commission. But then, Homestreet wants to kick you while you're down by taking money out of your already lower commission check to pay your contribution for the assistant. A terrible business model regarding how Loan Officer Assistants are handled. That needs to change.
Advice to Management
Remember that the performance of your employees, most notably the Loan Officers, are the reason as to why Homestreet was able to position itself to become public in the first place. Reward and recognize your employees and provide more tools to help your above average employees feel appreciated and also feel as if they are given support and tools to accelerate their career.
I applied online. I interviewed at HomeStreet in January 2016.
Fairly easy but was questioned on how it aligns with my goals. I made it clear on how it was but the interviewer was too ignorant to listen.
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