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Residential Finance Reviews

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84 Employee Reviews

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  1. "Run over here! Now over there!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Frontline in Columbus, OH
    Former Employee - Frontline in Columbus, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Residential Finance full-time (More than a year)

    Pros

    Many nice people, working hard. Was always interesting! Some managers were really sharp.

    Cons

    Management goes from one idea to the next with little care for seeing what sticks. Many employees are pay quite poorly. Benefits are expensive and not very good. Sick time was lacking. Sales seems like a boiler room.

    Advice to Management

    Stick to things, don't brag about sales team adventures to low paid over worked others.


  2. "HORRIBLE MGMT, horrible place to call "work""

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

    I worked at Residential Finance full-time

    Pros

    Most of the employees were decent and nice. Can't say the same for most mgmt

    Cons

    Benefits are the worst, pay could be better! Mgmt is horrible! It's their way or the highway. No communication! They promise employees stuff they cannot provide more being to the table. It's a money game!

    Advice to Management

    Stop being so miserable and find a job you love doing so you cannot make other lives miserable as well. Stop making promises you cannot keep. Pay your employees better and provide better benefits/incentives!!

  3. "Mortgage Consultant"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    compensation plan was well thought out

    Cons

    there were no cons to this position


  4. "Loan officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Loan Officer in Tampa, FL
    Former Employee - Senior Loan Officer in Tampa, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Residential Finance full-time (More than a year)

    Pros

    They provide alot of leads but the mailers are not honest

    Cons

    One of the most corrupt mortgage companies you will ever deal with but now they just got bought out by PMAC

    Advice to Management

    Learn how to be honest!


  5. "Move on..."

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

    I worked at Residential Finance full-time (More than a year)

    Pros

    The office furniture is nice

    Cons

    1/2 of all the executives left. Rumors abound that the company is being acquired. This is not a place to grow.

    Advice to Management

    Let the guys in CA run it


  6. Helpful (1)

    "Very disappointing. The company tanked shortly after I was hired."

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

    I have been working at Residential Finance full-time (Less than a year)

    Pros

    Pretty offices in a convenient location.

    Cons

    False expectations developed upon hiring.

    Advice to Management

    Be honest.


  7. Helpful (2)

    "Surprised it is still in business"

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

    I worked at Residential Finance full-time (More than a year)

    Pros

    I was able to grow professionally as a developer while working there which made it very easy to find my next job. I had a great manager who did not micromanage and encouraged personal growth. I met some cool people and very capable developers.

    Cons

    Upper management (CEO level) is not capable of thinking ahead. When business was good they spent money on cruises and expensive furniture instead of investing in the future. Once the rates started going up, they canceled 401K contributions, cut salaries, and laid off half of the company including the whole development team with a one hour notice. I am surprised the company is still in business.

    Advice to Management

    Run before the company goes bankrupt.

  8. Helpful (3)

    "Beware, this company puts on a good front but has major issues..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Sales
    Current Employee - Mortgage Sales
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Residential Finance full-time

    Pros

    Sales Training is Good
    Leads are Good
    Office is nice and in a nice location

    Cons

    -The company seems to not have enough money to pay paychecks consistently on time, paychecks are always wrong and parts of your pay plan are hard to understand and change all the time. They also changed my pay scale twice in a year, both times with virtually no notice and both time it was paying less money. Loan officers are charged $199 per month for "licensing fees" but you never really know where this money is going and it doesn't even show up on your paycheck anywhere?

    -They received an award as one of the top 3 places to work in the city. Channel 10 news came in to do a news story and my manager told us that we were required to stand while we sold loans and told us to "look energetic" while the news crew was around. They also put a gaming system, corn hole set, and a golf put in the employee cafeteria and told the news reporters that this is where their employees go to de-stress. They put this stuff out 1 hour before the news got there and then it was gone a month or two later! All for show, not really for the employees and is an ongoing joke with the sales staff.

    -The processing department doesn't support the sales staff at all which adds a lot of extra stress and time to my job and much of the time is spent trying to do my job and their job.

    -Don't value employees at all. They will feed you the "we are a family" line but it is an empty statement. They value the bottom dollar and that is it.

    -Sales floor environment not good and getting worse. Moral is low, managers act unprofessional, and the managers micro manage every part of your work day down to how many calls you make and I know first hand it is worse in the Tampa office. It is also comprised of 85-90% men, not a lot of diversity in the sales staff at all.

    -Company seems to be in financial trouble, rumors are that this is due to bad decisions by executives and senior managers but company says it is due to changing market conditions. They discontinued 401K match, paychecks was always coming in late, laid off 60-70% of staff in last few months.

    -Fees and Rates on loans are high compared to industry average . Customer service issues are ongoing and loan officers are docked $500 pay for a bad online review by a customer even though most of the time the customer is mad because of things out of the loan officers control like the length of time it takes to close their loan or a denial by underwriting.

    Advice to Management

    Put your employees first, they are the lifeblood of the company not the managers and executives.


  9. Helpful (4)

    "Dishonest practices and this is a SINKING SHIP"

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

    I have been working at Residential Finance full-time (More than a year)

    Pros

    -Direct mail leads are better here than most competitors.
    -Most people quit or get fired quickly so you get free loans from their pipeline if you are friends with your branch manager

    Cons

    -Bounced payroll checks
    -Payroll arrives late most of the time
    -Recruiting will tell you what you want to hear to get you to start, mostly lies
    -Roughly 4 months before you see a dime in commission, got paid more as a CSR
    -Marketing CLEARLY breaks every rule possible (appears to be a letter from the government, advertises an APR that is comical compared to what I can actually offer)
    -Highest rates/fees I have ever seen
    -Tampa office is highly unprofessional, grown men acting like children
    -Comp plan is significantly lower than when I was hired, now it is not that competitive (my first year made good money, next year if I don't find a better job will prob make $50k)

    Advice to Management

    Quit as soon as you can, the Tampa call center is probably going to get shut down sooner or later.


  10. Helpful (4)

    "Great opportunity for paid training / licenses paid."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Officer in Sharonville, OH
    Current Employee - Loan Officer in Sharonville, OH
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Residential Finance full-time (Less than a year)

    Pros

    Relaxed atmosphere and paid training.

    Cons

    Mismanaged, terrible loan close times. My paycheck was wrong more times than it was correct.

    Advice to Management

    Stop wasting money training people who have no shot at passing the tests / making it in this business, more strict interview process needed. GET YOUR FINANCES RIGHT!


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