Ace Mortgage Funding Reviews | Glassdoor

Ace Mortgage Funding Reviews

Updated June 15, 2017
8 reviews

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3.3
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Richard M Hall
4 Ratings

Employee Reviews

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  1. "Ace Review"

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

    I worked at Ace Mortgage Funding full-time

    Pros

    Great Money at the time

    Cons

    Long Hours and no guarantee of return


  2. "AVP"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Indianapolis, IN
    Former Employee - Assistant Vice President in Indianapolis, IN
    Recommends
    Negative Outlook

    I worked at Ace Mortgage Funding full-time (More than 5 years)

    Pros

    High Income was easy if you worked hard

    Cons

    Work Hours Expectations were crazy. They expected you to work 60 Plush hours per week

    Advice to Management

    Work Life Balance should be a part of company culture

  3. "Loan Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Cincinnati, OH
    Former Employee - Loan Officer in Cincinnati, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Ace Mortgage Funding full-time (More than a year)

    Pros

    Chance to earn decent money

    Cons

    Company focused on bottom line and not their employees or customers.

    Advice to Management

    Stop pushing bad loans just to make the company money


  4. "Company shut down"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Schaumburg, IL
    Former Employee - Loan Officer in Schaumburg, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Ace Mortgage Funding full-time (Less than a year)

    Pros

    Hard work pays off with commissions

    Cons

    They manage by a book that cannot be altered for common sense

    Advice to Management

    Stray form the book and top producers would have stayed and the company might still be in business


  5. "I worked with and For Ace For 7 Years great company horribly that the industry crashed on us"

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

    Pros

    Wish They were still open

    Cons

    Lot of hours for us back then.


  6. "Bad Management in Scaumburg, IL"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Schaumburg, IL
    Former Employee - Loan Officer in Schaumburg, IL
    Doesn't Recommend
    No opinion of CEO

    I worked at Ace Mortgage Funding full-time (Less than a year)

    Pros

    Possibility to make good money

    Cons

    The managers manage by some written book that cannot be altered

    Advice to Management

    Fire yourself... too late, already out of business


  7. "Great place for income and advancement when it was open."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Denver, CO
    Former Employee - Loan Officer in Denver, CO
    Recommends
    Approves of CEO

    Pros

    Exceptional place to work with great income potential.

    Cons

    Company went out of business in Oct 2008.

    Advice to Management

    N/A

  8. "Residential real estate finance is not the place to make money."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Cincinnati, OH
    Former Employee - Loan Officer in Cincinnati, OH

    Pros

    It was originally a high-paying job with serious commission opportunities. Of course, this was amidst the subprime lending boom when almost anyone could get a loan. Credit didn't matter, nor did income or collateral. Furthermore, rates were not commensurate with risk and yield spread premiums were huge. However, when that started to fade and the subprime lending began to dissipate, the only options were FHA and Conforming. The DU (Desktop Underwriter) software was outstanding for ascertaining approval in a fast way, and technologically, Ace was by far the best company. Furthermore, the leads were usually solid, and once direct mail marketing began, the incoming calls seriously picked up.

    Cons

    The downsides are that in the current real estate market, the opportunities for making serious money in mortgages, let alone residential ones, are simply not there. Unless you are truly a stellar salesman, one will find themselves dissapointed with the quality of leads, the underwriting standards, as well as the constantly changing lending guidelines at one point. Additionally, there was no real opportunity for a career path, as your choice were mainly limited to branch manager or loan officer. For those who sought a VP role or even higher, those opportunities were simply not there. Also, management at times were more focused on numbers than the off-putting turnover.

    Advice to Management

    Do not punish the LO's by taking away leads when performance is not strong or they are late to a meeting.