Bank of America Senior Mortgage Underwriter Reviews | Glassdoor

Bank of America Senior Mortgage Underwriter Reviews

Updated Jul 29, 2017

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Found 5 reviews

3.1
StarStarStarStarStar
Rating TrendsRating Trends
88%
Recommend to a Friend
13%
Approve of CEO
Bank of America CEO Brian T. Moynihan
Brian T. Moynihan
2 Ratings
  1. "Senior Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Compensation and Benefits
    Former Employee - Senior Mortgage Underwriter 

    I worked at Bank of America full-time

    Pros

    Very generous benefits and compensation including bonuses. Sufficient training and guidance for procedures and products in writing most of the time.

    Cons

    Underwriters are micromanaged way too much. There is no room for common sense underwriting even if you have thirty years of experience.

    Advice to Management

    Go back to the Bank of America model and dump the Countrywide model. Countrywide failed. Also, train up the Processors instead of allowing them to just be paper pushers. There should be less focus on "numbers" and more on quality.

    Bank of America2016-09-14
  2. "Sr Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Mortgage Underwriter in Chandler, AZ
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Bank of America full-time for more than 3 years

    Pros

    Bank of America offers Good benefits, bonus pay, flexibility with your schedule and time off, a very generous amount of vacation time, sick time and holidays.

    Cons

    Over all the loans are very difficult, high turn over in processing and with loans officers means on the front end things do not get completed well and customers are frustrated often.

    Advice to Management

    I would suggest more appreciation towards the fact that anyone off the street can not learn to underwrite in two weeks and it's a job skill that requires experience.

    Bank of America2017-07-30
  3. "Very Un-memorable."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Mortgage Underwriter in Saint Louis, MO
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Bank of America full-time for less than a year

    Pros

    Strong culture of employee training and improvement. Bank of America consistently provided some of the most comprehensive training I've ever received.

    Cons

    Report driven and punitive. Every file is audited for quality and errors were made public. This lowered morale. Reporting valued over results.

    Bank of America2017-04-14
  4. "Senior Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Mortgage Underwriter in Plano, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bank of America full-time for more than 3 years

    Pros

    Good benefits, training is thorough and ongoing.

    Cons

    Outdated platforms and technology, slow to adapt to change, managers are more often promoted due to nepotism and less on merit.

    Advice to Management

    Update technology, base promotions on merit and ability.

    Bank of America2015-09-21
  5. "Its corporate."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Mortgage Underwriter in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America

    Pros

    Benefits are top notch. Employee discount program. Employer discounts on bank products.

    Cons

    Corporate culture is poor; multiple upper management changes lead to multiple layoffs.

    Advice to Management

    Make sound decisions and stick with them. Too many snap decisions that were not allowed to play out.

    Bank of America2015-01-05
Found 5 reviews