PHH Mortgage Loan Processor Reviews | Glassdoor

PHH Mortgage Loan Processor Reviews

Updated February 7, 2017
51 reviews

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Loan Processor

2.0
Star Star Star Star Star
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Recommend to a friend
Approve of CEO
PHH Mortgage President & CEO Glen A. Messina
Glen A. Messina
10 Ratings

Employee Reviews

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Pros
  • The company allows its workers a very good work/life balance (in 12 reviews)

  • Great company to work for, great people (in 14 reviews)

Cons
  • It is important to have a work/life balance (in 10 reviews)

  • Upper management never saw the need to upgrade their systems and to me, it is the ultimate reason for the company's downfall (in 16 reviews)

More Pros and Cons

  1. Helpful (1)

    "Loan Processor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Processor in Mount Laurel, NJ
    Former Employee - Loan Processor in Mount Laurel, NJ
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at PHH Mortgage full-time (More than 10 years)

    Pros

    Great people to wok with.

    Cons

    Very overwhelming. To many loans to process per person. They are going through a transition right now so I can not recommend working there right now.

    Advice to Management

    Focus more on customer service


  2. Helpful (1)

    "Mortgage loan processor"

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

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

    Pros

    You don't work any late nights, but once a month, rest of th month off by 5 pm.

    Cons

    Company morals down hill, only 37.5 hours a week. Good health benefits.

    Advice to Management

    Loosen up smile


  3. Helpful (1)

    "An Unstable Company, Way Too Many Lay Offs"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Processor in Mount Laurel, NJ
    Former Employee - Mortgage Loan Processor in Mount Laurel, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    The only pro that I can find about working here was meeting the friends I have from working here. Oh, wait, I did learn a lot while I was there in my 4 years...BECAUSE I WAS MOVED AROUND TO SO MANY TEAMS IT WAS RIDICULOUS! It was a Sink or Swim type of Environment, but hey, at least I learned the mortgage industry better. Now I take what I had to learn (on my own) and am able to manage my work days better due to the craziness I experienced here.

    Cons

    NO REAL TRAINING, NO SUPERVISOR THAT HAD YOUR BACK (unless you knew them or they liked you), LOAN OFFICERS TRYING TO CHANGE PROCESSOR GUIDELINES,, AND DEPARTMENTS DON'T WORK TOGETHER TO GET LOANS CLOSED.

    Advice to Management

    Stick up for your employees who are on your team working every day to get loans closed. Have your teams back when loan officers try to change the process and manage the employees that aren't working, not the ones that are.... oh yeah and to the owner, come out on the floor once in a while and see what really happens at your company instead of having fake town halls lying to people.


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  5. "Processor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Processor in Tyson's Corner, Fairfax, VA
    Former Employee - Mortgage Loan Processor in Tyson's Corner, Fairfax, VA
    Recommends

    Pros

    Great group of people. Great management. Great benefits.

    Cons

    I don't have any cons


  6. Helpful (1)

    "Loan Processor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Processor in Jacksonville, FL
    Former Employee - Loan Processor in Jacksonville, FL
    No opinion of CEO

    Pros

    Decent Pay, flexible schedule, telework option (if you're good)

    Cons

    Lay offs, poor management, favoritism at it's finest, hard to talk to HR for job reference after you leave

    Advice to Management

    Figure out why this company lays off so much.


  7. Helpful (1)

    "Processor"

    Star Star Star Star Star
    Current Employee - Mortgage Loan Processor in Mount Laurel, NJ
    Current Employee - Mortgage Loan Processor in Mount Laurel, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at PHH Mortgage (More than 5 years)

    Pros

    Salary is competitive and better than most lenders in the Region.

    Cons

    too numerous to mention all - systems are very outdated, often down especially at month end when everyone is hustling, micro-managed, treated like a sweat shop employee.Major favoritism is common. Upper management is clueless as to all of the "broken" processes.

    Advice to Management

    hire management that have at minimum, a bachelors degree. It is embarrassing to witness some of t he supervisors behaviors, not to mention the inability to speak and write proper English/Grammar. I think that some of the managers were recruited from a dark alley!


  8. "Processor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Processor in Jacksonville, FL
    Former Employee - Mortgage Loan Processor in Jacksonville, FL

    I worked at PHH Mortgage full-time (More than 10 years)

    Pros

    Potential to earn higher than possible at most other lenders.

    Cons

    Significant responsibility without management support


  9. Helpful (1)

    "Loan Processor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Processor in Jacksonville, FL
    Former Employee - Mortgage Loan Processor in Jacksonville, FL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at PHH Mortgage (Less than a year)

    Pros

    Pay, overtime opportunities, bonus, free dinner

    Cons

    Management, benefits, not properly planning for the future, consistent lay offs

    Advice to Management

    Train the people you currently have to handle a busy environment so when rates are low and refinances pick up, instead of hiring just to fire, the people you have can handle the pipelines, or hire temporary staff to assist so when the rates go up and business slows down, you aren't laying off people, just cutting the temporary staff


  10. "Don't waste your time here"

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

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

    Pros

    No good reason to work for this company. The benefits are high. The 401k plan is the only good thing I can say

    Cons

    Very high turnover. Even upper management seems unsure about this company's future. Very low morale. Constant fear of job loss.

    Advice to Management

    I'm not sure what else there is to say other than what others have said below


  11. Helpful (2)

    "Closer"

    Star Star Star Star Star
    Former Employee - Loan Processor in Jacksonville, FL
    Former Employee - Loan Processor in Jacksonville, FL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at PHH Mortgage full-time (More than 3 years)

    Pros

    There is no single reason to work there.

    Cons

    Highly unethical place.This organization has a club that you need to get into before you get a job or move on. It is based primarily on race, nationality and religion or cocktail of all of these. All recent promotions should be investigated. Favoritism and nepotism rampant. Bribe is prevalent as well; I have witnessed. It is a disgrace to work for company as such.

    Advice to Management

    Managers don't show respect or appreciation for employees; you're just a number. Are these people human?