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LoanCare

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LoanCare Employee Reviews about "loancare"

Updated Nov 12, 2021

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Found 11 of over 163 reviews

3.0
43%
Recommend to a Friend
68%
Approve of CEO
LoanCare President Dave Worrall
Dave Worrall
68 Ratings
Pros
  • "Fairly good pay with bonus if you can make it(in 5 reviews)

  • "Room for growth in a steadily growing company(in 5 reviews)

  • Cons
  • "LoanCare does not care about people's personal lives(in 7 reviews)

  • "No communication between upper management and agents(in 5 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

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    Ratings by Demographics

    This rating reflects the overall rating of LoanCare and is not affected by filters.

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    Reviews about "loancare"

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    1. 5.0
      Current Employee, more than 8 years

      10 years in and still loving it!

      Sep 15, 2020 - Administrative Manager in Virginia Beach, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Company growth Room for advancement Employee recognition Employee Engagement is always offering something new. LoanCare offers a company store, virtual fitness classes, and many other fun events throughout the year. Remote work available Casual dress code Transparent leadership team

      Cons

      Though leadership has an open door policy, which is great, it is often difficult to find time to meet with and get direction when everyone is in multiple meetings. No relatives hiring policy.

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    2. 3.0
      Former Employee, more than 10 years

      Long Hours Leads to Burnout and Poorly Staffed

      Nov 12, 2021 - Analyst 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Associates are nice, some management cares, but most push people out the door.

      Cons

      Long hours. I've switched jobs and yet I'm still working 14 to 16 hours every day. LoanCare does not care about people's personal lives.

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    3. 1.0
      Current Employee

      Awful place to work for

      Sep 19, 2021 - Information Security Analyst in Norfolk, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      There are no pros for working for this organization.

      Cons

      Extremely poor leadership/management. Bad decisions made during COVID-19 pandemic that endangered the health and well-being of the employees. Extremely high turnover rate. You are expendable and just a number at LoanCare.

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    4. 2.0
      Current Employee, more than 8 years

      We preach one thing but do another

      Nov 4, 2020 - Anonymous Employee in Virginia Beach, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Room for growth in a steadily growing company.

      Cons

      Unrealistic expectations. Managers not equipped to lead and efficiently meet the goals of the business. This puts the burden on the teams and employees that do the daily work. There are managers that have the title but no knowledge to lead a team into success. Many people are overworked and underpaid. There are many people fleeing LoanCare for the same reasons. Low wages and bad managers. Send another survey out so you can see who really meets the LoanCare objectives and long term goals.

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      2 people found this review helpful
    5. 5.0
      Current Employee, less than 1 year

      Very Supportive Company

      Aug 22, 2020 - Customer Service Representative in Pittsburgh, PA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Working with this company for the last 6 months. Every has been supportive through these challenging times. Supervisors and Management is always available. This company goes out of their way to support each employee. I have made more money with this company in the last six months and I have never been in this position to financially support myself and my family. Thanks LoanCare

      Cons

      Nothing negative to say. I work hard and have been rewarded for my hard work

      1 person found this review helpful
    6. 3.0
      Current Employee, more than 1 year

      Decent employer with room to improve and be the best

      Jun 13, 2019 - Supervisor in Pitts, PA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Opportunity for advancement, ground floor of new location

      Cons

      Loancare systems and processes are outdated

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    7. 5.0
      Former Employee, less than 1 year

      Structured

      May 27, 2018 - Payment Processor in Virginia Beach, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      loancare has a lot of structure. The training was in-depth. I appreciated the fact that they wanted you to be familiar with the mortgage industry before you started working in your actual Dept. The training was informative and helped as well. My actual Dept (cash) was very structured as well w/ managers who were always available to help. I had just come from a company w/ NO structure so coming to loancare was a breath of fresh air. I would recommend this company to any and everyone.

      Cons

      No eating untensils in the break room lol if you forget a fork/spoon then you won’t be able to eat your food lol

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    8. 4.0
      Current Employee, more than 1 year

      Enjoying Myself

      Jan 21, 2018 - Anonymous Employee in Virginia Beach, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I like the work environment. LoanCare tries very hard to make everyone feel at home. I get the sense that most people here care about each person and their jobs. LoanCare invests a lot of time and money to teach employees their jobs (usually between 2 to 4 weeks) before a new hire can start working. The company is growing and is working to create a culture of caring and a culture of exceeding the customers expectations. Employees are encouraged to transfer between departments if they find that the job they were hired for is not enjoyable. LoanCare would rather keep employees and help them to fit in than let employees go. It seems like I learn something new every day.

      Cons

      There is no fast track to the top. It takes a long time to learn the industry. If you want to become supervisor or an executive, it will not happen overnight. The rules, regulations, and guidelines of the mortgage servicing industry are not light reading. I have been with LoanCare for nearly a year and a half, and I am just now beginning to understand some of the reasons why we do things.

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    9. 1.0
      Current Employee, more than 8 years

      Loss Mitigation

      Oct 21, 2017 - Loan Counselor in Virginia Beach, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Most of the people are congenial

      Cons

      Loancare have settled a class-action lawsuit stating that they have been paying their african american employees lower than others. There is no room for advancement unless you know someone. The supervisors that have been tasked with supervising do to know job specifics enough to assist the employees.

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      2 people found this review helpful
    10. 1.0
      Current Employee

      Management

      Jan 16, 2017 - Virginia in Virginia Beach, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      There are some great people that work here.

      Cons

      There is no work life balance. Supervisors are expected to work 60-70 hours per week; sometimes 6-7 days per week. New president has voiced in a meeting that employees (including non-exempt employees) are expected to come to work sick. Comp time is not allowed. The only thing upper management is looking for is reduced expenses (meaning employees will NEVER be paid what they deserve and additional staff will NOT be hired as needed) so that they can get their end of year bonus. This means longer, stressed out employees and supervisors who consistently work late into the night while senior management comes in whenever they wish and leave at a normal time. Forget getting promoted. They are only hiring outside staff now. If there were other mortgage sub-servicing companies in the area, LoanCare would lose 75% of their current staff.

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      5 people found this review helpful
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