Freedom Mortgage "loans" Reviews | Glassdoor

Freedom Mortgage Employee Reviews about "loans"

Updated Dec 2, 2019

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2.5
30%
Recommend to a Friend
30%
Approve of CEO
Freedom Mortgage CEO Stanley Middleman (no image)
Stanley Middleman
340 Ratings
Pros
  • "Overall, I enjoy the work environment and the progressive attitude that Freedom leaders possess(in 21 reviews)

  • "The work-life balance was decent(in 16 reviews)

Cons
  • "always changing salary structure making loan officers earn less for same loans closed(in 29 reviews)

  • "Company is pushing out a lot of great managers and loan officers with their current strategy(in 28 reviews)

More Pros and Cons

Reviews about "loans"

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  1. Helpful (3)

    "Good starting/learning place for your career as a loan officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in Tempe, AZ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Freedom Mortgage full-time for more than a year

    Pros

    Salary is good, great people to work with, often fun competitions for prizes or cash for doing your job, and casual work environment (Tempe)

    Cons

    Constant change of commission structure, paid by how many closing (not by size of loans), need a min of 6 closings to make any money on commission(kept increasing). Micro managed, junk leads if you're not top tier or just starting

    Advice to Management

    Fight for your employee's commission, don't give false promises on better/more leads.

    Freedom Mortgage2019-04-04
  2. Helpful (1)

    "A joke"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Loan Processor 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Freedom Mortgage full-time for more than a year

    Pros

    Get your foot in the door

    Cons

    Don’t even THINK of going to the bathroom!! The trainer WILL tell you in front of the class “I did say to be available for the I-9 document”. He talks non stop about HIS great experiences! And, the job description NOR the interview mentioned it’s a call center with micromanaging environment And you’ll be fired if you don’t meet their quota , which keeps changing. Now I know why they pay better than most call... centers. My advice, work as a slave, it’s a sweat shop!! do Saturdays, take the laptop home, save as much as you can and when your PTO kicks in at 90 days, start looking elsewhere. Any other place that appreciates a loan processor PROCESSES loans a loan officer gets and is NOT on a dialer

    Show More

    Advice to Management

    You want good reviews!? Be deserving of them!!

    Freedom Mortgage2019-12-02
  3. "Manufacturing But With Computers"

    StarStarStarStarStar
    Former Employee - Processor 
    Doesn't Recommend

    I worked at Freedom Mortgage full-time for more than 3 years

    Pros

    Team focus helps pull everyone together

    Cons

    Rigid focus on meeting targets, feels like you are manufacturing loans more than anything else given the "assembly line" feel. But perhaps things have changed since

    Freedom Mortgage2019-06-22
  4. "bad salary structure"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Loan Officer 

    I have been working at Freedom Mortgage full-time for less than a year

    Pros

    good learning environment, dont put in more than 6 months to a year

    Cons

    always changing salary structure making loan officers earn less for same loans closed

    Freedom Mortgage2019-05-02
  5. Helpful (1)

    "Worst job I ever had"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Loan Officer in Mount Laurel, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Freedom Mortgage full-time for more than a year

    Pros

    None I can think of

    Cons

    empty promises, no follow-through by management, LOs don't know what they're going to be paid on their commish checks. No work-life balance. You can do everything in your power to make sure your loans fund but in the end they will pull the rug out from under you end of the month, whether it be by laying off a bunch of processors/underwriters, or not pushing your file along

    Advice to Management

    Stop asking people to put in extra hours with no incentive on your end. You expect people to be fine working 50-55 hour weeks yet always drop the ball on closing their loans

    Freedom Mortgage2018-11-01
  6. Helpful (4)

    "Unfair Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Underwriter in Fishers, IN
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Freedom Mortgage full-time for more than 3 years

    Pros

    Work from home. Is about it

    Cons

    Managers are not professional, nor do they know what there doing, worked here for 3 years really no raise in 2 years, only look in bottom dollar for company. Was laid off with no notice, no severance pay, had over 40hrs of vacation and not paid. Went thru 5 layoffs, there still laying off, so I would stay away from this company at all cost. They will transfer you to numerous managers, was transferred 7 times in 3... years. The can't do VA loans anymore since they have been black balled by Gennie Mae.

    Show More

    Advice to Management

    Get manager that know how to manage, that are professional since the once you have is the reason the company is going down....

    Freedom Mortgage2018-08-20
  7. Helpful (7)

    "Wish I never worked here"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Loan Processor in Broomfield, CO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Freedom Mortgage full-time for less than a year

    Pros

    The managers... but they are laid off now or were smart enough to find a better company.

    Cons

    Took this job because I wanted to be closer to home. Was laid off a few months later. The owner of this company is an idiot and you can tell he doesn’t know how to run this business. They spend all the company money in the wrong places. I feel terrible for the customers. Their loans have so many people in them, they don’t even know what’s going on. First time I have ever experienced racism in the workplace too -... Which was honestly hilarious considering it is year 2018. I have never left a review for a company. This place ruined everything I have worked for. I have been unemployed for months because I was stupid enough to take this job.

    Show More

    Advice to Management

    Learn how to spend company money so you are not destroying peoples lives.

    Freedom Mortgage2018-08-07
  8. Helpful (4)

    "Loan Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Loan Advisor in Mount Laurel, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Freedom Mortgage full-time for more than a year

    Pros

    Decent coworkers, young environment

    Cons

    Freedom is really good at selling themselves to both employees and customers, and then failing to deliver in a big way. The upper management are sold as being cool and approachable, but are greedy and have zero concern for anyone but their own bottom line. They'll promote younger more impressionable people into positions of power that they know they can control because they know they can get them to do whatever the... higher ups want simply by inflating their ego. The facilities are atrocious. Office space is cramped, loud, and critical items constantly broke, and were not fixed for days. The cafeteria is laughable, tiny, and shoved into a freight loading deck. Processing is outsourced to a vendor who have no idea how to process loans, so nothing you write will close, at least not in a timely manner. Freedom is a refi shop, which is fine but their compensation plan incetivizes the LO to push would be borrowers into highly profitable cash out loans with rates well above the APOR due to discount points, and effectively punishes them (by paying less) if they do otherwise and attempt to act in the customer's best interest. It's a blatant violation of the LO compensation rule. Before accepting an offer from freedom ask yourself these questions: 1. Do you mind not closing loans despite putting in a substantial amount of effort to do so? 2. Do you mind not having any job security despite the industry doing relatively Well? 3. Do you mind not having any space to focus and work efficiently? 4. Do you mind being mistreated and micromanaged on a daily basis? 5. Do you mind your licensing being under threat do to this company's greed and inability to comply with basic laws? If you answered yes to any of the above questions, then this company is not for you, and you should avoid it like the plague

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    Advice to Management

    Get out while you still can and leave your unethical behaviour in the building.

    Freedom Mortgage2018-08-09
  9. Helpful (15)

    "At least they paid for my licenses..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Loan Officer in Mount Laurel, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Freedom Mortgage full-time for less than a year

    Pros

    When i was hired they helped me get my state and federal licenses. The cafe has my favorite flavor monster energy drink

    Cons

    I must’ve wasted 6 weeks sitting at a desk doing nothing but waiting for management to find me a spot in a training class. Once a spot was found they cut my training short after 2 weeks. I was put in a brand new department that wasn’t closing loans shortly after i was laid off. Frequent and mass lay offs, from what I understand this is Freedoms business model, mass hire when the rates are down then the mass fire... when the rates go up If you’re not on the favorites list good luck making a living

    Show More
    Freedom Mortgage2018-05-28
  10. Helpful (12)

    "Layoffs happening every month since nov"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Loan Processor 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Freedom Mortgage full-time for more than 3 years

    Pros

    Good pay, peers are great to work with.

    Cons

    Management sucks, and doesn’t look out for the best interest of their employees. They are doing layoffs every month, and wiping out full departments. Company is going down hill. Upper management pressures us to close loans, but the loans are messed up from the beginning. Your over worked, and under paid. If your not popular you will be chosen when it’s time to be laid off. Company sucks, and also try’s to not pay... for overtime.

    Show More

    Advice to Management

    Just quit, you all don’t know how to do your job, or run a successful team.

    Freedom Mortgage2018-04-29
Found 29 reviews