Prospect Mortgage Reviews | Glassdoor

Prospect Mortgage Reviews

Updated July 2, 2017
111 reviews

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3.3
StarStarStarStarStar
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Mike Williams
26 Ratings

111 Employee Reviews

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Pros
  • Each day I enter a positive work environment which I enjoy (in 5 reviews)

  • Great leadership, Awesome CEO that is dedicated to progress (in 4 reviews)

Cons
  • Upper Management and HR are obviously both aware and have not done anything to intervene (in 5 reviews)

  • Loan Officers run the show and are not held accountable for anything (in 4 reviews)

More Pros and Cons

  1. "Processor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Prospect Mortgage full-time

    Pros

    Atmosphere, great leads, happy and positive mindsets

    Cons

    Under Staffed, some employees have too much freedom.


  2. "Sr Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - St Underwriter in Sherman Oaks, CA
    Former Employee - St Underwriter in Sherman Oaks, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Prospect Mortgage full-time (Less than a year)

    Pros

    None at prospect . Starbucks was in the same building

    Cons

    By far the worst company I have ever worked for . Management is terrible . No one is willing to help or train new employee's . Quality of employee's is sub par .

    Advice to Management

    Overhaul your employee's . Actually come into the centers to see how people are functioning on a day to day basis

  3. "Trading Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Sherman Oaks, CA
    Current Employee - Anonymous Employee in Sherman Oaks, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Starbucks is downstairs and restaurants are within walking distance.

    Cons

    Unsupportive management that mistreats employees
    Little to No opportunity for advancement.
    Favoritism

    Advice to Management

    When you have a handful of employees leaving the company in a specific department, HR and upper management should intervene and investigate why.
    Company needs to:
    - provide reasonable, supportive management and leadership personnel who have integrity and will treat employees fairly and consistently,
    - treat employees with respect,
    - treat employees as if they matter as your organization’s most significant resources,
    provide regular employee recognition,
    - empower employees to make decisions about their job,
    - offer open and regular communication about factors important to employees,
    provide feedback and coaching,
    - offer above industry-average benefits and compensation,
    - offer employees the opportunity to develop their professional skills and their careers,
    - provide employee perks and company activities, and manage employees within a positive success framework of goals, measurements, and clear expectations.


  4. "Merged with financially strong partner. Good news for loan officers, with new products"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Prospect Mortgage full-time

    Pros

    Ethical management, harmonious working relationships

    Cons

    taken over by another company


  5. Helpful (1)

    "Great Opportunity for Advancement"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Staff Accountant in Sherman Oaks, CA
    Current Employee - Staff Accountant in Sherman Oaks, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    I work in the Accounting/Finance Department (Accounts Payable) and was hired on without any experience and within less than a year I earned a promotion (General Accounting). I enjoyed working for a company that promotes from within and am forever grateful for the chance that they took on me.

    During the close, we are fed lunch and dinner with the implication that we DO NOT take a lunch and work late (until at least 8:00 PM) should we partake.

    The environment is pretty lax as far as schedules and dress codes are concerned as long as you are completing your work and doing a good job.

    Benefits are mediocre but compensation is slightly above average.

    Cons

    Training is sub-par at best, processes and systems are pretty archaic. A common theme at the office is, "I don't know, that's how we've always done it". Often times, I learned how to do things right by doing things wrong either because I was poorly trained or not trained at all.

    There is a Manager there who mistreats her employees so severely that in the short time I've been there (almost 2 years), I've seen 5+ people leave on disability and/or sue the company and another few people who just walked out and never came back...all for the same reason. Upper Management and HR are obviously both aware and have not done anything to intervene. I only mention this because it's indicative of the management style (of most managers)...they have blinders on and avoid confrontation at all cost, at the expense of their employees.

    Advice to Management

    To put it quite simply....MANAGE. Sometimes Managers need to step in to resolve matters and hold people responsible for their actions, hiding in your office and pretending that you don't know what is happening 10 feet away from you is a sure fire way to tell some of your employees that you do not care about them


  6. "Processor II"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Some nice bonus options available for production.

    Cons

    Not a lot of advancement opportunities.


  7. "Working in Application Support"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - LOS Applications Support in Hesperia, CA
    Current Employee - LOS Applications Support in Hesperia, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    The majority of the people are great to work with

    Cons

    Management has no clue to the Department Needs

    Advice to Management

    Train your helpdesk associates

  8. "LOAN PROESSOR II/UNDERWRITER"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - LOAN PROCSSOR II/UNDERWRITER in Wayne, PA
    Former Employee - LOAN PROCSSOR II/UNDERWRITER in Wayne, PA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Prospect Mortgage (Less than a year)

    Pros

    Very nice to work- Excellent instructions for new employees and a great IT tech department. Very organized company with great pay scale and bonus features monthly

    Cons

    Only problem might be too heavy with supervisors for each department and not knowing what other supervisors are doing


  9. "Transaction Branch Assistant"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    Current Employee - Transaction Branch Assistant in Fresh Meadows, NY
    Current Employee - Transaction Branch Assistant in Fresh Meadows, NY

    I have been working at Prospect Mortgage (Less than a year)

    Pros

    Friendly and motivated work environment.

    Cons

    Need Mortgage License to make commission

    Advice to Management

    N/A


  10. "Good company"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook

    I have been working at Prospect Mortgage full-time

    Pros

    Good people to engage with on a daily basis.

    Cons

    None that I can think of at the moment.


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