HomeStreet Reviews | Glassdoor

HomeStreet Reviews

Updated April 24, 2017
23 reviews

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4.0
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HomeStreet Vice Chairman and CEO; Chairman and CEO, Homestreet Bank Mark K. Mason
Mark K. Mason
9 Ratings

23 Employee Reviews

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Pros
  • friendly people and good work/life balance (in 5 reviews)

  • Great benefits and management; more bank branches are opening nation wide which offers more visibility and recognition (in 6 reviews)

Cons
  • Company is growing very fast, but many growing pains to due lack of bank-wide communication and outdated systems (in 3 reviews)

  • Poor communication between upper management and middle management (in 3 reviews)

More Pros and Cons

  1. Helpful (3)

    "Loan Officer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Officer in Vancouver, WA
    Current Employee - Loan Officer in Vancouver, WA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at HomeStreet full-time (More than 5 years)

    Pros

    For a Loan Officer, the compensation is above average, benefits including 401k are also above average, and the product mix is one of the most diverse in the industry. The reputation in the community is also very positive. I admire the company's selectivity in hiring and feel that I am surrounded by the best of the best in our industry.

    Cons

    The technology is terrible, most notably our origination software which is antiquated. Also, there needs to be more support or tools to help elevate solid producing Loan Officers to the next level.

    The biggest hindrance to a Loan Officer at Homestreet achieving the next level of production is how they handle the Loan Officer Assistants. They put monthly quotas on the Loan Officer to determine whether the company will cover that assistant's salary that month or whether the Loan Officer has to pay that assistant out of his or her own pocket. That is appalling to me.
    Everybody has a down month now and then, and many times it is due to events beyond your control.

    Thus, when a Loan Officer has a down month, the Loan Officer, in turn, earns a lower commission for that month. That is never a good thing when one is straight commission. But then, Homestreet wants to kick you while you're down by taking money out of your already lower commission check to pay your contribution for the assistant. A terrible business model regarding how Loan Officer Assistants are handled. That needs to change.

    Advice to Management

    Remember that the performance of your employees, most notably the Loan Officers, are the reason as to why Homestreet was able to position itself to become public in the first place. Reward and recognize your employees and provide more tools to help your above average employees feel appreciated and also feel as if they are given support and tools to accelerate their career.


  2. "Reconveyance / Lien Release Specialist"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Federal Way, WA
    Former Employee - Anonymous Employee in Federal Way, WA
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at HomeStreet full-time (More than a year)

    Pros

    Great management, great atmosphere, great pay

    Cons

    Not enough communication between departments. Too many programs used for for job functions, none of which talk to each other.


  3. "A Solid Company with Great People Working for It"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Everett, WA
    Current Employee - Customer Service Representative in Everett, WA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at HomeStreet part-time (Less than a year)

    Pros

    Good compensation, solid benefits, the people are great, management understands things, customers like the smaller, community status, branches trust their employees

    Cons

    Nothing too terrible, branches are slower than other jobs, could be a bad thing that everyone starts to recognize names and such, potential problems with employees as it's a smaller company

    Advice to Management

    Keep up the positive outlook and keep the trust in the employees. Maybe make it known to employees that, if they want, career opportunities opening up that they could potentially fill.


  4. Helpful (2)

    "Bank Branch Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Seattle, WA
    Current Employee - Branch Manager in Seattle, WA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at HomeStreet (More than 10 years)

    Pros

    Fast growing bank with many opportunities.

    Cons

    The company often hires from outside rather than internal promotion.

    Advice to Management

    Promote within the bank.


  5. "Good"

    Star Star Star Star Star
    Former Employee - Anonymous Employee in Seattle, WA
    Former Employee - Anonymous Employee in Seattle, WA

    I worked at HomeStreet (More than a year)

    Pros

    Lot of opportunity to bring infrastructure up to speed

    Cons

    Opportunity to bring in new blood


  6. "It is what you make of it"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Processor in Seattle, WA
    Current Employee - Loan Processor in Seattle, WA
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at HomeStreet full-time

    Pros

    Fantastic job if you have a great manager.

    Cons

    Some processes are inefficient. But people do the best they can given the tools.

    Advice to Management

    invest in better systems


  7. Helpful (1)

    "Has changed from small, family owned company to a larger regional bank which has its disadvantages."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Non-exempt in Seattle, WA
    Current Employee - Non-exempt in Seattle, WA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at HomeStreet full-time (More than 10 years)

    Pros

    Long term employment for numerous employees company wide, with a lot being 15 years plus, I personally have 25 plus years.

    Cons

    Too many chiefs sometimes that only communicate within themselves and don't include the people below them who actually are the ones doing the work.

    Advice to Management

    Have fewer committees, but don't create a committee to determine the best way to have fewer committees.


  8. "Fun, growing Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative II in Seattle, WA
    Current Employee - Customer Service Representative II in Seattle, WA
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at HomeStreet full-time (Less than a year)

    Pros

    At branch level, this job is fun, full of customer service, and never boring. There are always things to be done and issues to be handled. If you're opening new accounts or product referrals you get little bonuses in your paycheck which is always nice.

    Cons

    It appears the company is slowly becoming more "Big Bang" than the family owned, local bank it has always been known for.


  9. "Loved working there!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Quality Coordinator in Bellevue, WA
    Former Employee - Branch Quality Coordinator in Bellevue, WA
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at HomeStreet full-time (More than a year)

    Pros

    great company to work for, the leadership was great!

    Cons

    Upper management not to good!


  10. "Energetic, honest competent staff and management provides a healthy, work environment with reasonably good compensation."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Loan Review Officer in Seattle, WA
    Current Employee - Senior Loan Review Officer in Seattle, WA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Healthy, well-managed Bank. Supportive managers, reasonable compensation. Good Benefit package (except no HSA), Relaxed, low stress work environment.

    Cons

    Limited growth opportunities. Concentrated in real estate market. Compensation does not recognize cost of living sufficiently.

    Advice to Management

    Diversify target market; reduce reliance on real estate lending; review job titles and compensation.


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