Loan Resolution Corporation Negotiator Reviews | Glassdoor

Loan Resolution Corporation Negotiator Reviews

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Negotiator

1.0
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Doug McCabe
2 Ratings

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  1. Helpful (1)

    "Very Happy To See The Company Go Under!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Asset Manager/Negotiator
    Former Employee - Asset Manager/Negotiator
    Doesn't Recommend
    Disapproves of CEO

    I worked at Loan Resolution Corporation full-time (More than a year)

    Pros

    Some of the people, and nice area.

    Cons

    Where do I start. I worked there for almost a year. The managment is awful. They are telling employees that they need to hit goals to make money, but they set them to high. They change them each month. They also tell you that you are moving to a salary position without giving you notice, or giving you any paperwork to sign on it. The management is very bad and does nothing to help you improve your preformance. They refer to the employees and lazy. They let me go for not hitting my goal by 1. I had hit it every month before that. They shorted my last paycheck and refused to give me a paycheck stub when I asked for it. When I asked HR, who by the way was very rude and did not care about the employees as well, they would not return my calls, or tell me my file no longer existed. I am happy this company is going under. They deserve it. There are alot of better jobs out there, and I am happy at my new one.

    Advice to Management

    Learn how to treat employees. Maybe some of them did not hit goal because you were horrible at your job!!


  2. Helpful (8)

    "Modern Legal Slavery"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Asset Manager Aka Negotiator in Scottsdale, AZ
    Current Employee - Asset Manager Aka Negotiator in Scottsdale, AZ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Loan Resolution Corporation full-time (Less than a year)

    Pros

    They hire bright, determined and hardworking people. Your co-workers are great people.

    Cons

    If you ever wondered how the Egyptians were able to build the seemingly impossible pyramids on the slave labor of the Hebrews, there is a modern day example of it happening in Scottsdale now.
    This company survives by hiring and firing in droves before anyone can make bonus or benefits.
    You read about many companies who dont care about thier employees but here turnover is a blatant profit strategy and they don't care if you know it.
    Examples: They fired all but 1 or 2 of thier agency hires, probably 20 people, right before their 90 days so they didn't have to pay the agency hiring fee or benefits.
    Up to now they were hiring at a non-liveable salary with a promise of a 10k raise when achieving 3 months goals, plus tiny commisions - if you qualify. Rare is the employee who is able to achieve that bonus or is still there in three monts to achieve it.
    The last two groups they hired started at the promised bonus level, with I am sure impossible goals to reach to keep their jobs. This is probably because they are likely blackballed by hiring agencies losing out on earned fees and they've gone through so many people that they are widening the net for more three-month recruits.
    Either way, they blatantly let current employees know they will be working side by side with a new person earning 10k a year more than you.
    Meanwhile current employees are working satudays and many free hours since you are on salary, trying to stay ahead of the overwhelming workload. The strategy is brilliant for them, they fire another round of employees and give those files to existing employees to work who are responsible from moment one for whatever state that file is in when given to them. And the person fired was aso as overwhelmed with work as you are.
    Then you will have 20 meetings a week to go over many chanes or just bs, rather than leaving you alone to work.
    Many of the multitude of daily changes are from the client and are the nature of the beast, but especially when a group is nearing its 90 days you will have company interruptions, such the whole staff moving areas two or three times, and all kinds of innovative ways to keep employees in a constant state of concern over their job or taken up so much of your time that cant achieve your goals so you will quit or be fired before bonus and benefits.
    They simply give your files out and eventually someone will complete it, most likely without earning commission - but the company still gets 100% commission on those files.
    They instituted a mandatory Saturday, and in June threw in a second mandatory Saturday, after a huge firing to handle the additional files, informing employees the thursday before, but of course there is no additional pay since you are on salary. Commission for the few consists of 10 bucks an approved file.
    How do I know this is a company profit strategy? They openly tell you that they will give employees less than half the alotted time to get your files through the process thatvthe client allows. That way when one employee is fired, they have allowed themselves enough cushion time to get the file through by other employees in enough time so the company still will earn their commission.
    And a file is a polite term for people trying to avoid foreclosure by putting an existing short sale through the process.
    Yes, I expect to be one getting fired anytime, but this is not sour grapes from a lazy, un-hireable employee. This is my observation after blood sweat and innumerable extra hours of a process that only benefits the owners while they take advantage of this economy.
    Finally, I am white but the percentage of management vs employees that are minorities, I find suspicious.

    Advice to Management

    Why bother? They've worked out a sweet deal.