Cardinal Financial Company Employee Reviews about "loan"

Pros

Love what company does for you. Makes you feel you are cared for and are important. Love Octane as very easy to grasp and helps you know the guidelines when underwriting a loan with the conditions that automatically come up. Love all the contests and things to get you involved with other people from the company such as Book Club, etc... The Underwriting monthly meets and our Team weekly meetings keep you informed on changes.

Cons

I really don't have any Cons. I feel Cardinal is a great company to work for. All my past employers have done nothing as to what Cardinal does for you. Makes you feel valuable.

Pros

Their proprietary software made the loan process streamlined Most employees were pleasant to work with

Cons

Some serious nepotism that caused unnecessary drama. Major Big Brother company which minimized trust in my opinion.

Pros

In house programs for loan officers. Very easy to use

Cons

Messy organizational. Office was closed due to lack of leadership

Pros

When they finally get your loans done

Cons

Long hours processing is garbage and all they want is more.

Pros

In full honesty there are none when compared to other lenders. They tout their loan origination system, "Octane" as the end-all be-all of LO systems but it's really just a mess. Constant latency issues and the never ending changes will discourage away all but the most vehement cases of denial. You'll notice Octane's loudest proponents are the recruiters and management that never actually have to log in, but if the system was so fantastic why did it create so much work per file that it turned the "Loan Processor" job into multiple positions? A good "Pro" would have been working remote, but since the beginning of 2020 that is pretty much par for the course at any mortgage company. My experience working from home has been a lesson in zero work/life balance, you're essentially "always on" and will get requests from 8 AM through to 9 PM or later.

Cons

1) The company is just too large, getting any assistance with real problems or escalations takes 3 or more business days before someone will respond to you. In this world of 30 day locks and TRID guidelines, that only tightens the screws on the loan teams to try and be better or faster. The lack of support leaves you, the remote worker, like an island out in the middle of the ocean only it feels more like you're drowning without a safety net. 2) The company used to have monthly meetings during which they'd discuss updates and answer questions but those were cancelled. Now the only way to stay up to date is to read whatever kitschy article gets posted to "the Hub" that day. They have actively worked to become LESS transparent! 3) The company has been expanding rapidly, although last year the wheels fell off when the volume rose. Their underwriting staff spent months drowning in 7-10+ business day turn times and that upper management did as little as possible to make things better for their employees, including adamantly refusing to hire new support staff where needed. 4) There are too many managers, whenever you try to escalate or get help on an issue it has to be routed through 3 or more individuals before it can even reach someone with enough pull to make things happen. And that person is going to be absolutely THRILLED to have to help you. I mean how dare you need some assistance!! 5) INSANE reprices from secondary, even with market volatility in consideration! There are 2+ reprices daily on a typical day but I've seen as many as 4 (during which locks are down for an hour or more, and often you can't even quote rates). Makes you wonder if maybe they are making up for some huge losses? 6) The "Appraisal Desk" is perpetually overworked and pretty much useless because of it. ONBOARDING BRANCHES MAKE SURE YOU DRILL DOWN ON THE APPRAISAL PROCEDURE, GET YOUR OWN AMC's ADDED AND DO NOT USE THE VENDORS PROVIDED BY CARDINAL!!! 7) There is a strange, antagonistic attitude between Corporate community and "Outside Sales", almost like they are at war with each other... It may say Cardinal Financial on your paychecks, but if you are in Outside Sales be prepared to be treated like a broker or someone with no affiliation to your own company. Don't believe me? Go ahead and give them a shot! The cracks in the façade begin to show in the first few weeks of training. You'll wonder what's going on day to day and why it's taking them so long to set you up, where are your credentials, what should I tell my borrowers about their pending loan apps and encroaching closing dates? You'll give them benefit of the doubt at first until they start to jeopardize your pipeline and livelihood. But once a few of your deals blow their closing dates and your reputation is at stake, what are you going to do then? You're here, they've already won!

Pros

Excellent loan pricing, fair number of leads, technologically-advanced LOS

Cons

Long hours including working weekends so tough to find work/life balance; upper management is also quick to lay off if you do not regularly meet production goals

Pros

1) Compensation plan is outstanding. If you are a decent salesman/saleswoman, you WILL get paid handsomely. 2) Contrary to a negative review I read from 5 weeks ago, the technology is bar none. Cardinal is the sole proprietor/creator of a loan processing software system that is the definition of cutting edge. 3) The work ethic and caliber of fellow Loan Officers positively promotes solid friendships as well as a contagious competition - that ultimately bolsters everyone's bottom line. 4) Probably should be at the top of the list, but the flexibility you're afforded is excellent. I go to the gym for ~1 hour 3-4 days a week in the middle of the work day - no questions asked. 5) Of the four employees I've recruited here over the past 2 years, all of them are still gainfully employed. I guess the "Pro" is that you can infer that the reason they're still gainfully employed is because they are thriving financially and generally HAPPY - which is perhaps the most important aspect of a job.

Cons

1) For those familiar with the mortgage industry - specifically a loan officer - there is always the dilemma of processing turn around times. As a loan officer, it ALWAYS seems "the loan should close more quickly", or "could be more efficient". But the question is relative in nature: compared to what? I think you'd be hard-pressed to find a company that routinely closes a refinance in less than 4 weeks.

Pros

It's been a great company for me and my lifestyle. I came from a very large lender that was very demanding and had a terrible comp plan. I have a young son and wife and this schedule works for me and my family. The comp plan is very fair and I have an opportunity for bonuses on a monthly basis and extra funds for loans I get on my own. Great people. Great atmosphere.

Cons

Location is the only con for me. I live on the west side of town so its a little more of a drive than I would prefer.

Pros

40 hour work week, Monday through Friday. Great benefits and vacations. Proprietary software for CRM and processing and underwriting. The ability to manually underwrite loans. True ability to customize loan terms with tons of loan programs and specific terms like 17 or 23 year loans and etc. Down payment assistance available in some states. Self Gen Referral loans receive a bonus. Tons of marketing support, business cards, fliers, swag, realtor material, social media info and etc.

Cons

No company is perfect but I honestly can not think of any cons. We ran out of paper plates in the break-room for about a day last week. I think that is it :).

Pros

After several years of working for the sweat shop type lender, a buddy of mine told me about CF. I was hesitant at first but I saw how my friend was living his life to the fullest. Naturally I gave it a chance. The Pros: Everyone in the company is there to help and to work side by side to make money. The best senior management I have been ever been around. Every leader in Scottsdale AZ is some of the most impressive and professional group of people i have ever worked for. Flexible work schedule The easiest Software Platform I have ever seen. Most companies has to use more than one system to originate a loan and effectively get pricing. Very fun, adult like culture.

Cons

There is not anything. I am blessed for this opportunity.