Equity Loans Reviews | Glassdoor

Equity Loans Reviews

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2.7
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  1. Helpful (1)

    "mortgage underwriter"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Underwriter in Atlanta, GA
    Former Employee - Mortgage Underwriter in Atlanta, GA

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

    Pros

    i liked the process and worksheets they had in place

    Cons

    the volume low and got laid off


  2. "MLO"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Georgia in Atlanta, GA
    Former Employee - Georgia in Atlanta, GA
    Doesn't Recommend
    Negative Outlook

    I worked at Equity Loans full-time

    Pros

    free lunch sometimes on friday. Underwriters were cool. The office had a gym and cafe.There were some great meetings and xmas parties

    Cons

    CEO was a awful. President was cool. benefits were high and unreasonable, The best thing to do is find a more stable mortgage banker

    Advice to Management

    Focus more on the employee retention and operations. Focusing to much on opening branches and other sites


  3. "No Clue What They Are Doing"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Cleveland, OH
    Former Employee - Loan Officer in Cleveland, OH
    Doesn't Recommend
    Negative Outlook

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

    Pros

    There are no Pros I could give this company, They are so bad they have changed their name from Equity Loans to Equity Prime.

    Cons

    No structure for branches, processing was clueless and uneducated. Leadership was non existent.
    Highest turnover of any mortgage company I have ever seen during my 20+ years in the industry.
    UW changes on every file. no consistency, says they UW to AUS findings but not sure they know how to read to do such.
    Within the first month we knew we made a mistake as a branch joining this company. We were told lie after lie to join.

    Advice to Management

    Get out of the business, or at least just be your own little branch. you have no idea how to run a Nationwide branch operation.


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  5. "Growing Company Needing to Improve HQ Management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager
    Current Employee - Branch Manager
    Doesn't Recommend
    Neutral Outlook

    I have been working at Equity Loans full-time (More than a year)

    Pros

    Good Online Systems
    Competitive Products
    Helpdesk and Branch Relations
    CEO communicates company vision in a monthly email
    Branch network allows you independence and freedom (but if you need help - see Cons below)

    Cons

    Poor centralized management
    Poor communication to branch employees
    Growing too fast to handle volume
    Vision of company is only found in email and online, but not delivered to management to unify company.
    Basically a hodge-podge of net branches seen as profit centers that are not brought together in a true unified company. Other than "making connections" at HQ and helpdesk you'll find you're pretty much on your own.

    Advice to Management

    Need to listen to your employees
    Get more senior level managers out in the field to understand the need of the branches
    Develop a centralized compensation plan and company vision