Pros
You get licensed on the company dime. You will be taught the mortgage industry (from a NEW DAY point of view). Some loan officers make good money if you are willing to decieve clients. If you have no family great place to spend all your time.
Cons
No work life balance for loan officers. <-- read this twice. Very high cost loans compared to competition. Compliance and ethical morals do not exist. You would not want to work for them if they get investigated. You have a rate sheet that exists only for regulators, must sell higher cost loans. Verballized, never in writting. At any time you will be required to sign new pay structure and hourly structure. HR will say anything to mislead you about the work environment. Obvious kickbacks are being paid to "exclusive lender relationships" and "board of directors". Pre-Qualified leads are false advertising. How do you declined credit on qualifed leads?? I would file complaints about this. They mail people with forclosures and management wants you to produce loans that will not qualify. Management holds credit committee to appove or decline loans, the majority of declined loans are due to low profitablity. You could spend weeks working on a loan that gets denied because the profit margin is too low, this is verbalized never in writting. Reading a script that requires you to mislead clients. AKA US VETERANS HR will despute this because the truth behind this company will hurt the recruiting.