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Cardinal Financial Company

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Cardinal Financial Company

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Cardinal Financial Company Employee Reviews about "loans"

Updated Oct 27, 2021

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Found 15 of over 497 reviews

3.6
65%
Recommend to a Friend
76%
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Cardinal Financial Company President Nick Florez (no image)
Nick Florez
281 Ratings

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Cons
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

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Reviews about "loans"

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  1. 1.0
    Former Employee, less than 1 year

    Career killer

    Dec 11, 2019 - Loan Officer in Dallas, TX
    Recommend
    CEO Approval
    Business Outlook

    Pros

    ZERO pros. This company has ZERO pros if you are an LO.

    Cons

    They let files sit for over 100 days. Yes over 100 days in processing. You are making over 400 calls to horrible leads. On average your leads will be average loan amount under 115k and no equity. Pricing is not competitive. The company offers loans for credit scores as low as 550. Yet you can’t get them approved the pricing is horrible and they tell you to not even deal with that file. Other companies focus on customers 700+ FICO and loan amount over 200K this company is lost and has no direction. The system is always having issues. I have talked to people who use to work for cardinal and everyone has said the best leads go to a handful of people.

    6 people found this review helpful

    Cardinal Financial Company Response

    We’re disappointed to hear about your experience while working at Cardinal, but appreciate you sharing your thoughts.We don’t know the specifics of the file you referenced, but we certainly do not see extended turn times as the norm. Through automation and solid processes, we make every effort to move files through the pipeline as quickly as possible. Cardinal also spends a lot of time and resources to ensure high quality leads are delivered to our loan officers. This includes working with reputable providers, only purchasing leads that have high intent and delivering a high quantity of records to each team member to help them be successful. Thanks again for taking the time to leave a review, and although Cardinal wasn’t a good fit for you, we wish you the best in your career.

  2. 1.0
    Former Employee, less than 1 year

    Avoid if possible

    Jul 13, 2017 - Loan Officer in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Decent catered lunch every once in a while and good people working there on the front lines

    Cons

    Bad reviews online about the company lead to a lot of clients ghosting after originating a loan to go with another more reputable company. The biggest negative right now hampering this company's success is the new software they are using. It seems as well that they hire processors and underwriters at cut rate salaries and are surprised when people that accept these low salaries can't close loans. Add a new mortgage system overall and you can see where the problems are going to happen. To elaborate on the new mortgage system, it was sold to the loan officers as being the quicker way to disclose documents and be able to e-sign clients on the phone. In reality, it's basically moving all of the busy work that processors or LOA's should be doing to the milestone before even disclosing. You need to address all credit inquiries, figure out vesting of title exactly, get unique email addresses for all borrowers (borrowing or non-borrowing), get exact tax filings statuses and addresses for the past 3 year, along with countless other busy work screens just to get a client their documents and get them in the door and signed up. In every other company that does mortgages, they typically want to free up time for the loan officer to prospect and generate new business. At this company, they cut corners at the loan officers' expense. I am not saying that I don't believe in 1003 integrity, but at least get the client in the door before asking them these questions. If this was such a good plan, why does no other company do this? Also, don't come here if you only have inbound mortgage call experience. They will put you on outbound calling where there is a small chance you will make enough to pay bills and an even smaller chance that you will be able to do well enough to get moved up. If you look at the current inbound teams, it's all loan officers that have just been with the company for years. Be prepared to stick around a year or so and playing office politics before hitting easy street. They hire people with 5-10 years of verified inbound call success and then stick them in a completely different role and get mad when they fail. This would be the equivalent of a sports team signing an all-star and sticking them on the bench to earn their minutes. Management was at least very open and honest about not having any semblance of an on-boarding for new loan officers. There are no trainings for the CRM, the old mortgage software, the new mortgage software, or just guidelines in general. I truly believe this extends to operations as well. The amount of small and silly mistakes that are made on a daily basis guarantee as soon as you hit 10 loans in your pipe, you will have at least 1-2 major fires to put out everyday. I was blown away coming from a company where I had more volume in the pipe (30-40 and it wasn't power banking) and actually had more problems here. Cleans loans and long shot loans all have equal chances of not closing. To further compound the situation, the middle managers aren't really able to get anything pushed. Like many other companies, operations is completely protected from any responsibility on loans. Even when presented with exact details on how loans were botched, and the exact solution even, the managers just shrug and the new go to response is about how we are all learning a new system, so be patient. At my specific branch, there was a manager with less than 3 years total mortgage experience. Trying to get a file pushed through that manager was like asking a guy working at the car wash about the random noise the car engine was making. Bad reputation online, very bad software that is currently being guinea pig tested, low quality leads for newer bankers, and completely inept operations should keep good loan officers away. They have stopped hiring new bankers due to the software being that difficult to use. Anyone they hire with experience will see right through the charade however. Run far away from this place and don't waste your time like I did.

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    8 people found this review helpful
  3. 5.0
    Current Employee, more than 3 years

    The place I call home

    Sep 6, 2019 - Production Manager in Chandler, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Culture is very important to me and we have that in folds - Presented plenty of opportunities for me to be successful. Got me licensed and just always had my back in many respects. Good Comp, Good people, Operating system is awesome.

    Cons

    Originating loans is stressful all together - If had to give a con I cant see the TV on the wall from my cube depending on the seating chart. Im not a big fan of the white noise pumped in - I would be super happy to have some higher cubes.

    Continue reading
    1 person found this review helpful
  4. 3.0
    Current Employee

    Different

    Aug 2, 2018 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    - unlimited commission - base salary - good software

    Cons

    - management makes it difficult to work 'out of the box' loans - cold calling... they say its leads but theyre a month old by the time you call it

    2 people found this review helpful
  5. 1.0
    Former Employee, more than 1 year

    Loan officer

    Apr 7, 2017 - Senior Consultant in Charlotte, NC
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The Pros not very many lunch on occasion

    Cons

    Well the cons the staff is not as educated to the mortgage industry as a whole you can't float loans or manage your pipe line your manager walks around with false believe of worth if you have been in the mortgage industry you will quickly find out you are being way underpaid your bonus is based on number of loans that are priced for overage so getting 10 locked loans means that you close 2 so if you're a real loan officers that cares about your rates management shields we the simple benefit but if any of the 10 locked loans 8 are smart enough to compare APR you will find out the rates are simply out priced

    Continue reading
    8 people found this review helpful
  6. 5.0
    Current Employee, more than 1 year

    Happy to be here

    Sep 5, 2019 - Senior Loan Officer in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    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.

    Continue reading
    2 people found this review helpful
  7. 1.0
    Current Employee, less than 1 year

    Liars, Small time, lack of leadership

    May 16, 2020 - Loan Officer in Addison, TX
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Really hard to think of one. You can login from home which is convenient.

    Cons

    The worst leads in the market. They take FOREVER to close loans and my manager picks his favorite people to take care of. Since I’m not on his favorite list he never helps me close Loans. For some reason I have only been paid commission maybe once or twice. You have to fund 3 in order to get paid. Well for some reason they just won’t close my loans. Makes me think they are holding back in order to not pay me at all. It’s not just me it is multiple LO’s that feel the same way on my team. They try to make you fear losing your job in order to motivate. The managers just praise each other when they do no training for the employees and don’t benefit us only certain people in the office. Now being in the Dallas area there is a lot of companies to work for and I am looking to move somewhere else that will treat me right and pay me.

    Continue reading
    7 people found this review helpful
  8. 3.0
    Former Employee, more than 1 year

    Let go for not hitting goals, yet never told what goals we needed to hit

    Oct 27, 2021 - Loan Officer 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    *Pay structure is fair and competitive. *Your direct manager is typically easy to get ahold of if needed...often making themselves available after-hours. *Overall, Octane is an easy to use LOS.

    Cons

    *No real coaching or performance tracking structure, only daily lock totals/hours dialed reports. *Personally was laid off in a large round of cuts due to conversion numbers, without once ever being told what our actual conversion percentages are, or goals we need to hit/maintain in the almost year I was employed with the company. *Have an underwriting question on a file? Good luck getting that answered by anyone. *The client advocate team that handles the processing of your loans is extremely hard to get in-touch with. Rather than having 1-2 people working your loan, 20+ people might at a time, leading to massive miscommunication and delays. Don't be surprised if you have loans 45-60 days in your pipeline.

    Continue reading
    7 people found this review helpful

    Cardinal Financial Company Response

    Thank you for your review and for bringing this to our attention. We are always striving to improve the experience for our LO's and will use this to continue to do so.

  9. 5.0
    Current Employee, more than 3 years

    I consider myself lucky to work for Cardinal

    Sep 4, 2019 - Senior Loan Officer in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    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 :).

    Continue reading
    2 people found this review helpful
  10. 4.0
    Current Employee, more than 1 year

    Good company as an Loan Officer, still subject to market volume fluctuation

    Apr 4, 2022 - Loan Originator 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Management goes to bat for your loans to keep them alive and moving while in the pipeline. New Lead ownership systems in place have improved speed to contact percentages incredibly.

    Cons

    Once a loan officer, minimal opportunity to move to a higher position like team lead or manager.

    Be the first to find this review helpful

    Cardinal Financial Company Response

    Thanks for the review! Always great to hear some positive feedback from our current employees. We also would like to assure you that we do everything we can to help our employees grow in their careers, whether that's here at Cardinal Financial or elsewhere. Don't ever hesitate to reach out to HR if needed. Thank you!

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Cardinal Financial Company

18 days ago

Culture
It’s no secret that millennials are reshaping the workforce. That’s why it’s especially exciting to see our name on the Best Workplaces for Millennials™ 2022 list, determined by Fortune in partnership with Great Place to Work®, the Global Authority on Workplace Culture!
Shared image - Cardinal Financial Earns Top 30 Spot on Best Workplaces for Millennials™ 2022 | Cardinal Financial
Cardinal Financial Earns Top 30 Spot on Best Workplaces for Millennials™ 2022 | Cardinal Financial
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Cardinal Financial Company

88 days ago

Diversity and Inclusion
Happy Asian American and Pacific Islander Heritage Month! This month and every month, we’re committed to fair lending practices and addressing homeownership gaps in the AAPI community. Home is for everyone.
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Cardinal Financial Company photo of: Giving back to our communities is important to us. Check out the Charlotte office coming through in the clutch for our annual Thanksgiving food drive!
Cardinal Financial Company photo of: Giving back to our communities is important to us. Check out the Charlotte office coming through in the clutch for our annual Thanksgiving food drive!
Cardinal Financial Company photo of: Giving back to our communities is important to us. Check out the Charlotte office coming through in the clutch for our annual Thanksgiving food drive!
Cardinal Financial Company photo of: Giving back to our communities is important to us. Check out the Charlotte office coming through in the clutch for our annual Thanksgiving food drive!
Cardinal Financial Company photo of: Giving back to our communities is important to us. Check out the Charlotte office coming through in the clutch for our annual Thanksgiving food drive!
Cardinal Financial Company photo of: Giving back to our communities is important to us. Check out the Charlotte office coming through in the clutch for our annual Thanksgiving food drive!
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