Bay Equity Reviews | Glassdoor

Bay Equity Reviews

Updated March 9, 2017
10 reviews

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3.5
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Brett McGovern
5 Ratings

Employee Reviews

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  1. "Too short"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Document Control in Concord, CA
    Former Contractor - Document Control in Concord, CA

    I worked at Bay Equity as a contractor (Less than a year)

    Pros

    Great environment. Friendly and knowledgeable people in management.

    Cons

    Not being able to work there longer. My assignment was very short.


  2. "Operations"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations in Remote, OR
    Current Employee - Operations in Remote, OR
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bay Equity full-time (More than 3 years)

    Pros

    Great family atmosphere and solid values/vision. The talk is walked daily. Senior management always works hard to be fair and equitable - there is clear communication about expectations and significant positive reinforcement. This is a challenging business - what a pleasure it is to work with competitive team members - who have your back first - and focus on delivering the best possible results each day. Solid positive leadership. Those who look for solutions instead of pointing fingers are found at Bay. Best company I have worked for in 39 year career.

    Cons

    None at this time - thank you.

    Advice to Management

    Keep on communicating and providing career training/opportunities for your team members. Keep celebrating our successes and focusing on the positive.


  3. Helpful (1)

    "Wholesale retail processor"

    Star Star Star Star Star
    Former Employee - Wholesale/Retail Senior Processor/Junior Underwriter in San Francisco, CA
    Former Employee - Wholesale/Retail Senior Processor/Junior Underwriter in San Francisco, CA

    I worked at Bay Equity (Less than a year)

    Pros

    Processed all wholesale and retail
    Loans

    Cons

    Lack of communication with team. Elementary games within team!


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  5. "Good Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Administrative Assistant in San Diego, CA
    Former Employee - Administrative Assistant in San Diego, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Hands on training with attention to detail or specific needs. Privately owned

    Cons

    They will monitor your every action via their computers so if you feel like surfing the web this is probably not the job to do it with.


  6. "MLO"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Costa Mesa, CA
    Former Employee - Loan Officer in Costa Mesa, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bay Equity full-time (More than a year)

    Pros

    Family oriented atmosphere, always helpful and constant training.

    Cons

    Rates are not competitive compared to other lenders.

    Advice to Management

    none


  7. Helpful (3)

    "Run!! SR UW let go for no reason--"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Mortgage Underwriter in Remote, OR
    Former Employee - Senior Mortgage Underwriter in Remote, OR
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Nothing they are deceptive-- They will promise you the world and I can't think of 1 promise they delivered. It's a negative place and very shady- don't waste your time.

    Cons

    I watched 3 people including myself get let go after being told they were doing great in training! No warning nothing-- shady company-- Mgmt is awful and there is a reason they pay underwriters well-- they can't keep them! If you won't sell your soul your out!

    Advice to Management

    It's a small industry-- doing people dirty will bite you-- I received calls from 2 people this week-- you really did them wrong shame on you.


  8. "Sales Manager"

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

    I worked at Bay Equity full-time

    Pros

    Great environment and culture. Ownership is awesome.

    Cons

    No real cons to report. Really was a great place to work

    Advice to Management

    I believe you did the right thing by cleaning house, sort of speak. You're doing it right


  9. "I love it here."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Officer Assistant in San Diego, CA
    Current Employee - Loan Officer Assistant in San Diego, CA
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Bay Equity part-time (More than a year)

    Pros

    Great place to learn and hone your mortgage skills. Provide plenty of options to increase your production.

    Cons

    Their corporate to branch chain is wacky.


  10. Helpful (1)

    "Bay Equity is a Franchise Mortgage Business. Do NOT work here!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Concierge in Puyallup, WA
    Former Employee - Loan Concierge in Puyallup, WA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Bay Equity part-time (More than a year)

    Pros

    5 hour days.
    You MUST love sales!
    Bonuses: if and when you get them.
    Coffee shop downstairs (not free) but the ladies are super nice!

    Cons

    The owners will try and "woo" you with the promise of a bonus for each loan that funds, but these bonuses are few and far between. If at any time there's an extra "incentive" offered for getting loans, take advantage of it, because it will most likely be gone within a week! The bonuses used to be cash, but they switched to including them in your paycheck (which will be taxed).

    The way they obtain business is by purchasing leads (supposedly people who have inquired online about a mortgage or refinancing). The leads that are purchased are complete crap, and maybe 1 out of 100 will be interested. The leads are never as good or new as you would be led to believe. The owners will play dumb if you question the validity of the leads. You'd have a better chance of calling random people out of the phone book!

    The loan officers only want loans that are easy to fund. They do not want to work for the money. They will entice you during the interview and tell you they work hard for you so you can get a bonus. Also, the larger the loan, the more likely they are to accept it (if it's a good loan), because they get paid more. The owners will tell you that if you're funding lots of loans, your bonus amount will increase, which isn't true.

    There is absolutely NO training. They give you a script you're supposed to read when you call potential clients, and it's pretty much trial by error when talking to people. If you don't have mortgage experience, don't apply for this job, because you will fail miserably.

    If you're not on top of tracking your loans, and paying attention, you won't get paid. The loan officers do NOT want to pay you, and will play dumb if questioned.

    There is a constant threat of being fired because your loan volume isn't big enough! The owners constantly change things, and make up rules. They also say they "hate" drama, but they are both notorious at creating it!

    I will never work for another mortgage company again. If you're not a "favorite" you will not get far within the company. I would not recommend working for this company.

    Advice to Management

    I would do some research on the franchise owners (ESPECIALLY at this branch). The stuff that goes on within the individual branches would make you shudder.

    I would do away with bonuses and just pay people more to work, or reconfigure the bonus system entirely.

    Offer better training and ways to move up within the company.


  11. Helpful (2)

    "TERRIBLE SERVICE"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Francisco, CA
    Current Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend

    Pros

    The company is located in the heart of San Francisco, great co-workers, dedicated employees. Owners are friendly.

    Cons

    too many chiefs, not enough indians; terrible service; terrible management support; backwards technology

    Advice to Management

    Keep it simple!