Loan Resolution Corporation Reviews | Glassdoor

Loan Resolution Corporation Reviews

39 reviews

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1.9
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Doug McCabe
23 Ratings

39 Employee Reviews

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  1. "Asset Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Asset Manager in Pearland, TX
    Former Employee - Asset Manager in Pearland, TX
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Was able to help people get out of a bad financial situation

    Cons

    The time it took for the bank to record and close the release of the homes

    Advice to Management

    To work closer with the bank to make sure these homes closed so the homeowners could get their incentive checks.


  2. Helpful (1)

    "LRC"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Scottsdale, AZ
    Former Employee - Manager in Scottsdale, AZ
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Loan Resolution Corporation full-time (More than 3 years)

    Pros

    Many opportunities and lots of different positions and experience.

    Cons

    Long hours and compensation does not match work.

    Advice to Management

    Pay employees what they are worth


  3. "First Class Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Asset Manager in Phoenix, AZ
    Current Employee - Asset Manager in Phoenix, AZ
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great benefits, good people, strong opportunity to grow from within. Unfortunately, I was laid off due to downsizing. Got a great severance package and communicated in advance for lots of time to find another job.

    Cons

    Amount of change in programs is difficult to keep up with. Training was helpful but things due change due to client requirements.

    Advice to Management

    Keep the good incentives and benefits. There are a lot of negative reviews but these are unfair and inaccurate. I think the management did great in supporting me to be successful at my position.


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  5. Helpful (1)

    "Congratulations to their owners on successfully running LRC into the ground!"

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

    I have been working at Loan Resolution Corporation full-time (More than 3 years)

    Pros

    The people. I had the pleasure of meeting some very talented individuals with a lot to offer other companies. Despite how they were treated and ultimately let down again and again, they did a commendable job maintaining a hard work ethic.

    Cons

    Everything. The root of the problem was the owners. Plain and simple. They had such a short sighted vision for the company and it's people that new innovative ideas were regularly rejected. The CEO, and both presidents were painfully ignorant when it came to leading and managing a company, it's people, and it's direction. There was rampant favoritism, sexual harassment, and discrimination against sexual orientation and race. The HR manager that should have been the person to go to for help was herself just as corrupt and assisted the managers, directors, VP, presidents and CEO in firing all those discontent employees. The owners looked upon it's staff with disdain and regularly let them verbally know how replaceable they were and their entire purpose for being there was nothing more than to make them money. It was regrettably the most unprofessional place I have ever had the misfortune of working.
    I am sad to see their entire workforce be laid off because the owners successfully ran the business into the ground, but I am glad in that now they will have the opportunity to work for a REAL company that will both appreciate them and help them develop.

    Advice to Management

    Congratulations on doing what you do best: over-complicating and ruining a simple job.


  6. Helpful (1)

    "Great training and experience for future work."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Leader in Scottsdale, AZ
    Former Employee - Team Leader in Scottsdale, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Great place to get training and experience for your resume. If you do work hard, you can make money, and if you help those around you while doing it, you can get promoted.

    Cons

    If you are promoted your employees could make more money than you. The senior management make decisions that can make it impossible to hit your goals, but you are held responsible anyways. Way too much turnover, and the rules change weekly.

    Advice to Management

    Treat your employees with respect. You treat them just as money makers, but if your supported them and treated them fairly they would stay and make you more money. Your turnover rate is one of your biggest problems and costs you the most, so stop training employees for other companies. Learn to keep them for your team.


  7. Helpful (5)

    "The Principal Partners Finally Killed the Business"

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

    I have been working at Loan Resolution Corporation full-time (More than 5 years)

    Pros

    Some of the best coworkers you could ever have.

    Cons

    The worst leadership and owners you could ever have. Travis Olsen, Matt McCabe and Doug McCabe took equal part in destroying this business.

    Advice to Management

    Get out of the way and allow the talented people you hire run the business. The poor EVP you hired never had a chance.


  8. "Hard workers are rewarded for their efforts!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Recommends
    Approves of CEO

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

    Pros

    LRC has an amazing staff - almost everyone is friendly, bright, and hardworking. People are also extremely helpful and genuinely care about the success of their friends and coworkers. There is a lot of room for upward mobility because most management roles are given to internal individuals who have proven their leadership capabilities over time.

    Cons

    Some people may find the workload to be overwhelming at times, but this can be overcome by practicing better time management skills.

    Advice to Management

    Continue to hold town hall meetings so that employees can offer valuable input.


  9. Helpful (9)

    "Honestly I don't even know where to begin."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The amazing group of people that work so hard.

    Cons

    They have employees sit on broken chairs and at broken desks and cubicles
    -They revise the yearly holiday schedule halfway through the year taking away two days. (It’s not like people make plans ahead of time!)
    -Create mandatory Saturdays out of nowhere. I have no problem working on a Saturday but please tell me more than 2 days before. Let’s be realistic people have families.
    -Telling potential employees that there is opportunity to make “all this money” in bonuses. The goals set a totally unrealistic. They consistently change and alter them on a monthly basis to basically keep people from hitting bonus.
    -They run out of drinking water in the office. Not to mention they provide no type of paper or plastic products in the “so called” cafes for employees to eat lunch in.
    -Discriminatory hiring practices basis on age, appearance, and sexual orientation. Partner Travis Olsen doesn’t want to hire “old” people.
    - Extending offers of employment and then rescinding those offers two days before hand and yes these people put in notice with their current jobs so this left them unemployed.
    -President Doug McCabe coming onto the operations floor telling his employees that they are useless
    -They have a strong management team but the partners can’t let the professionals make the decisions they were hired to make. Decisions a simple as moves
    -Hiring people knowing that they will “lay them off” or fire them in less than three months
    -HR manager has no clue about HR rules or regulations. Her biggest worry of the day is where people park and use the restroom
    -Using unlicensed software and out dated computer equipment

    Advice to Management

    Get a clue! Start to invest in the people that work so hard for you that make peanuts while you site back and do nothing but screw with people lives like its a game.


  10. Helpful (7)

    "In high level meetings the CEO's continually referred to his employees as, stupid, lazy and dispensable."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Manager in Scottsdale, AZ
    Former Employee - Sales Manager in Scottsdale, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    A nice walk from the parking lot 1/4 mile from the office. Beautiful office. Some friendly people.

    Cons

    This company strategically uses people through blatant lies and deception. On more than one occasion this company has flat out lied about pay that never came. I was shorted thousands of dollars upon leaving the company. The decisions made by ownership are extremely reactive and there is virtually no thought of employee's welfare when making these decisions. In high level meetings the CEO continually referred to his employees as "not that bright" and "lazy". Not only was this a point of discussion but the owners found it necessary to publicly humiliate their managers in an attempt to motivate. I regrettably was part of a bigger business plan that was involved in purposeful poor file handling (people's homes and futures) in an effort to simply placate their vendors. Bottom line: Get out of the owner's way, they mean to use any resources in their path to be successful.

    Advice to Management

    Break up your partnership and hopefully, separately, you will come up with a less toxic business plan.


  11. Helpful (8)

    "Here today, you will be gone tomorrow"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Scottsdale, AZ
    Former Employee - Anonymous Employee in Scottsdale, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    I am sure there are some, though right now I cannot find any. I will have to think on this a bit.

    Cons

    Loan Resolution Corporation
    Contractor for Bank of America
    Scottsdale, Arizona
    Contractor for Bank of America processing problem mortgages. During my stent at LRC I witnessed 3 major staffing purges that affected Manager -> Associate level “layoffs.” These “layoffs” are worded as (paraphrasing) “due to changes in volume and needs of the company your position has been eliminated.” The truth is, again I have witnessed this, though some of the layoffs maybe because of that and even performance; they have training classes rolling every two weeks. Precedence has proven that they (management) “layoff” higher paid individuals to bring in inexperienced staff to keep cost down. In my case I was replaced by contractors.
    This company is required by contract and law to have MOST (the tests and quantity decided by position and law/contract) of its employee’s pass regulatory “compliance” tests. They, though not openly, encourage their employees to cheat on the tests, HR has “answer keys” and there are screen prints with the correct answers on several of their network shares.
    Your personal information, secure? NO! The locations of your ssn, account numbers, addresses, mortgage information are all supposed to be separated and on network shares/drives that are encrypted. They advertise as such as well, this is a bold lie. There is NO encryption on their network shares.
    Near 1/3rd of the people listed on their “Corporate Info” page no longer work there, including the female director that they keep on the page because it “makes them appear more diverse.”

    Advice to Management

    Look inward.


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