American Equity Mortgage Reviews | Glassdoor

American Equity Mortgage Reviews

Updated July 16, 2017
92 reviews

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3.2
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Deanna Daughhetee
42 Ratings

92 Employee Reviews

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Pros
  • Sales Training - designated onboarding class once hired (in 8 reviews)

  • The atmosphere and culture at American Equity is very family oriented and allows for a great work/life balance (in 4 reviews)

Cons
  • They tack it all on by saying the borrower won't have any closing costs, yet add it all back into the loan making them owe 16,000 more than they should (in 5 reviews)

  • They tell you they can close loans in 30 days on avg (in 5 reviews)

More Pros and Cons

  1. "An Employer who really cares"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Saint Louis, MO
    Current Employee - Vice President in Saint Louis, MO
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at American Equity Mortgage full-time (Less than a year)

    Pros

    The company is very committed to their vision to get their employees and clients to A Better Place.

    Cons

    I cannot identify a con because they are focused on success for their employees and clients.

    Advice to Management

    Continue to build relationships and expand into new markets so more people can benefit from the good work that you do.


  2. Helpful (2)

    "Mortgage Planner"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Planner in West Palm Beach, FL
    Former Employee - Mortgage Planner in West Palm Beach, FL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at American Equity Mortgage full-time (Less than a year)

    Pros

    Remote or In House work.

    Cons

    They promised to give leads & none were given. Plus management at my location needs to be brought up to speed on doing loans, credit & processing. They also said it was a Dalary plus commission but failed to mention that you have to work the entire 15 days in any pay period to get paid for it. It was somewhat of scam.

    Advice to Management

    Train your management or at least hire people that know how & what to do in certain situation or find out from someone else. Also telling Realtors that have to have 46 day contracts to give them their Close on time gaurantee is not helping you get business.

    American Equity Mortgage Response

    Jul 19, 2017 – Vice President Employee Experiences

    For information on our Close on Time Guarantee please vist http://www.americanequity.com/close-on-time-guarantee.html The compensation of our originators varies based on prodection and experience... More

  3. "Mortgage Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Consultant in Bellevue, WA
    Former Employee - Mortgage Consultant in Bellevue, WA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at American Equity Mortgage full-time (Less than a year)

    Pros

    Seattle office has a great manager and high producing individuals. The office culture was perfect for me. Competitive and supportive. They are constantly the top producing office in the company.

    Cons

    Middle management (VP's etc.)are constantly contradicting one another. HR and training are never on the same page and the overall operation of the company is inefficient and combative from all involved.

    Advice to Management

    Set standards and stick to them for more than a pay period.

    American Equity Mortgage Response

    Jul 19, 2017 – Vice President Employee Experiences

    We have launched a comprehensive onboarding process for our new originators to support their success. Our onboarding process is a collaborative effort between our Talent Acquisition, Employee... More


  4. "Mortgage Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Consultant in Atlanta, GA
    Former Employee - Mortgage Consultant in Atlanta, GA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at American Equity Mortgage full-time (Less than a year)

    Pros

    High Energy Environment, great training program

    Cons

    Poor product makes the sales process like pulling teeth

    Advice to Management

    Get a better product

    American Equity Mortgage Response

    Jul 19, 2017 – Vice President Employee Experiences

    We offer a wide array of lending solutions to meet the needs of our clients for both purchases and refinances. The best product for out clients is based on their needs which are identified in the... More


  5. "Decent pay but poor benefits & not much job security."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Retail Mortgage Loan Processor in Saint Louis, MO
    Former Employee - Retail Mortgage Loan Processor in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at American Equity Mortgage full-time (Less than a year)

    Pros

    My team lead (direct supervisor) there was amazing.
    Pay was competitive.
    There was a good camaraderie there among fellow employees.
    I learned a great deal about the mortgage industry.

    Cons

    Benefits were very poor, insurance was expensive.
    Very little vacation time was given. Only 5 days after 6 months of employment.
    Not secure, was laid off with no notice due to lack of business because of rising interest rates.
    Training was virtually non-existent, it was fly by the seat of your pants. Sink or swim environment.
    High turnover.

    Advice to Management

    A better training program is needed for processors.
    Benefits package needs serious improvement.
    If layoffs are eminent, try to place employees in "slow" departments into other positions.

    American Equity Mortgage Response

    Jul 19, 2017 – Vice President Employee Experiences

    Rising health care costs mean a rise in Employee Benefit Care Plans. This is a nationwide trend that is being experienced in all industries. We offer a wide array of benefits to our employees so... More


  6. "Mortgage processor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Anonymous Employee in Saint Louis, MO
    Former Employee - Anonymous Employee in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at American Equity Mortgage full-time (Less than a year)

    Pros

    None to mention . Just being honest

    Cons

    Poor management. They tell you at last minute to work overtime. None of the management personnel are honest or professional.

    Advice to Management

    Install a revolving door. No one stays for long. Especially if they are good.

    American Equity Mortgage Response

    Jul 19, 2017 – Vice President Employee Experiences

    Overtime is not routinely required and is offered as flexible time when a need for it arises to meet business demands.


  7. "Mortgage Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Consultant in Saint Louis, MO
    Current Employee - Mortgage Consultant in Saint Louis, MO
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at American Equity Mortgage full-time (Less than a year)

    Pros

    Management, mentors (the best in the industry) and executives, onboard training, environment, base pay plus commissions, leads provided, team player mentality, focused on providing superior solutions AND relationship building with customers. Solid benefits and on-site cafeteria......and of course free coffee and tea all day long!

    Cons

    If you can't meet the requirements or get on board with the sales process you will be looking for another position. But then what job do you get to keep if you can't fullfill the duties of the position.

    Advice to Management

    Keep on being awesome!

    American Equity Mortgage Response

    Jul 19, 2017 – Vice President Employee Experiences

    We are proud to offer a very strong training program for our originators. In any sales position there are expectations for performance. We believe that our onboarding process, training and and... More

  8. "AEM is the Best Place to Work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - AREA SALES MANAGER in Saint Louis, MO
    Current Employee - AREA SALES MANAGER in Saint Louis, MO
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at American Equity Mortgage full-time (Less than a year)

    Pros

    AEM has an excellent work culture, a comprehensive awards program, perks, trips, benefits, an "open door" policy and great communication from the CEO and throughout the entire company. In addition, through AEM Cares, employees are allowed and encouraged to give back to their community through volunteer service. If you want to be empowered, happy, challenged and make the money you deserve, please consider joining our team. AEM focuses on getting their clients to a Better Place and they do this by taking great care of their own employees as they seek to get to a Better Place, too.

    Cons

    The only downside to working at AEM is it's addicting. I have a hard time turning off the drive. The entire organization is committed to winning!

    Advice to Management

    Thank you for the opportunity to be a part of something great! The American Dream of home ownership is still alive and I love being part of this company which has been in business for 25 years!


  9. Helpful (1)

    "Boiler Room Style Sales and low pay"

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

    I worked at American Equity Mortgage full-time (Less than a year)

    Pros

    Training and experience were good. High energy office.

    Cons

    Low salary and very low commissions. Stuck at a desk making phone calls and get griped at for taking time during day to build a referral network.


  10. "An honest review from someone who never does reviews"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Minneapolis, MN
    Current Employee - Anonymous Employee in Minneapolis, MN
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at American Equity Mortgage full-time

    Pros

    Best mortgage sales training in the industry. You will be very prepared to do your job, even without any prior mortgage experience.
    More sales leads than you can handle that the company pays for.
    Mortgage consultants get their own private office.
    Plenty of opportunities for career advancement if wanted. The company does a great job of promoting from within.
    Use of all the latest technology and methods for driving and developing new business.
    Upper management actually listens to the employees and is willing to quickly adapt and/or change when needed.
    Plenty of recognition and awards for Top Performers.
    Fun environment to work in, even within a stressful industry.

    Cons

    The mortgage industry in general is very complicated and misunderstood by those who don't work in it on a daily basis. A lack of understanding, stress of a sales environment, coupled with complex UW guidelines can lead to frustration for both employees and customers alike. No mortgage company is perfect, unfortunately, and not all loan applications get approved. This is typically the reason for most negative feedback that you may read online, but that's a normal part of the mortgage industry. However, starting with their trained sales process, AEM has always done an excellent job of doing a much more thorough loan application review up front, has better understanding of the client's wants and needs, and educating its customers and employees of changes in the industry when they occur. This leads to a higher closing ratio than the industry standard, which ultimately leads to happier clients and employees.

    Also, there may have been a manager at different levels/locations in the past that wasn't perfect based on really old reviews, and if there was (I never worked with them) they aren't with the company anymore. I can honestly say the current management staff that I've met and worked with at all levels (I've met them all at this point) is excellent and absolutely committed to the company culture and their employees and their success.

    Advice to Management

    Continue to be open to adaptation and change, which upper management has always done an excellent job with during my 5+ years with the company.


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