Wells Fargo Home Mortgage Consultant Reviews | Glassdoor

Wells Fargo Home Mortgage Consultant Reviews

Updated June 2, 2018
170 reviews

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Home Mortgage Consultant

3.2
StarStarStarStarStar
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Approve of CEO
Wells Fargo CEO Timothy J. Sloan
Timothy J. Sloan
18 Ratings

Employee Reviews

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Pros
Cons
  • "Work/life balance can be non existent depending on your business line" (in 360 reviews)

  • "sales goals were a major part of the job" (in 1256 reviews)

More Pros and Cons

  1. "Been here for 14 of the last 15 years in the business"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant in Redlands, CA
    Current Employee - Home Mortgage Consultant in Redlands, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time (More than 10 years)

    Pros

    Well structured and great technology

    Cons

    Just the fact that we used to take forever to close loans and have to deal with that republican even though it’s no longer the case


  2. "Home Mortgage Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant in Des Moines, IA
    Current Employee - Home Mortgage Consultant in Des Moines, IA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Wells Fargo full-time (More than a year)

    Pros

    lots of oppurtunity to make a lot of money

    Cons

    none that i can think of

  3. "Home mortgage consultant perspective"

    StarStarStarStarStar
    Current Employee - Home Mortgage Consultant
    Current Employee - Home Mortgage Consultant

    I have been working at Wells Fargo full-time (More than a year)

    Pros

    Have access to our fulfillment partners. Our processors and underwriters are in the same building, and in my case just a cubicle row over. We are paid on units with a tier system per month. Not bpps. Obviously the more loans your close, the more you make. With added bonuses for loyal surveys, and audits, you can add another 40% to your base amounts from your loans as well as getting an hourly pay .

    Cons

    The compliance issues of what you say, and how you say it are crazy. It seems that sometimes if you breathe wrong, you may be out of compliance and be in the office for counseling. Very strict underwriting guidelines. It seems underwriters are looking for reasons to decline loans instead of finding workarounds to help borrowers get into homes.


  4. Helpful (3)

    "Complete Downward Spiral"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant in Des Moines, IA
    Current Employee - Home Mortgage Consultant in Des Moines, IA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Wells Fargo full-time (More than a year)

    Pros

    401k is 6% match, tuition reimbursement, and other typical perks of the big corporate environment.

    Cons

    WF execs and upper management are clueless about the environment below them. Ever since all the scandals, they have shifted focus to customers and have completely given up caring about their employees. Employees are suffering big pay cuts, essentially paying for all the fines that WF is being hit with. Morale has hit an all-time low but nothing is being done to reverse it.

    Pay is structured now around a lot of factors that are out actually of your control. Anytime you can't control your paycheck, you are going to feel totally helpless.

    Typical corporate feedback system - "Your Opinion Counts" is just jargon for "We have to find a way to make it look like we care". Until they actually do something to reverse the downfall, nobody's opinion counts.

    Advice to Management

    Get a clue. Your employees in the front lines are the ones doing the REAL work. Imagine trying to do the work that those of us are doing, while also struggling to keep food on the table!

    An average mortgage consultant is supposed to make 70k and most of your current consultants are lucky to make 50k after this scandal. Put the emphasis back on your employees because they DO NOT care about customer service when you don't pay them well.


  5. Helpful (1)

    "Overall great bank to work for but also has it’s short comings like all companies"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant in Charlotte, NC
    Current Employee - Home Mortgage Consultant in Charlotte, NC
    Recommends
    Positive Outlook

    I have been working at Wells Fargo full-time (More than 5 years)

    Pros

    Flexible schedule for top producers . Matches up to 6% of 401k contributions. Volunteer opportunities that really help others less fortunate .

    Cons

    No opportinity to move up (no matter how good you are at your job) unless you know someone and are in the “in crowd”.

    Advice to Management

    Hire and promote based off of ability not who you know. Promoting people that are not qualified only hurts the business line they are promoted in and their subordinates .


  6. "Home Mortgage Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Home Mortgage Consultant in Chesterfield, MO
    Former Employee - Home Mortgage Consultant in Chesterfield, MO
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Wells Fargo full-time (More than a year)

    Pros

    Wells Fargo provided excellent training for the Home Mortgage Consultant position. I learned a lot within the one year time that I was at the company. The management team was interested into me succeeding.

    Cons

    Wells Fargo Mortgage company in Missouri did not have any down payment assistant programs for people with lower income and people who had credit issues. This limited opportunity to expand into those markets forcing employees to target people in a higher income bracket. The simply didn't care about the little people who's household income was between $50,000 and $100,000 thousand.

    Advice to Management

    Develop programs that can truly help people with lower income. Focus more on being in the lower income market. They need to diversify into all income area's you never know what that market can bring.


  7. "Lots of opportunity"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant in Gilbert, AZ
    Current Employee - Home Mortgage Consultant in Gilbert, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time (More than 5 years)

    Pros

    If you work hard and follow their model you will succeed, can earn good income, need to make their salary non repayable , good rates

    Cons

    Decisions are made from to high up the chain, very slow for things to change since large corporation, conservative underwriting

  8. Helpful (3)

    "Mortgage Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Home Mortgage Consultant in Los Angeles, CA
    Former Employee - Home Mortgage Consultant in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Wells Fargo full-time (More than a year)

    Pros

    Flexible schedule and ability to meet other professionals in different departments.

    Cons

    Terrible management, cut throat, managers do not help grow business in the branch which is the main purpose to work for a company like Wells Fargo

    Advice to Management

    Get involve with your branch, have your bank members help refer business. Mortgage reps have no support from upper management which is way people are drastically leaving the company.


  9. "Home Mortgage Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant in Raleigh, NC
    Current Employee - Home Mortgage Consultant in Raleigh, NC
    Disapproves of CEO

    I have been working at Wells Fargo full-time (More than 3 years)

    Pros

    Good benefits package, medical coverage is comprehensive, 401-k match is healthy.

    Cons

    They are the biggest, so with that comes all the red tape, as the scrutiny on them is the highest. Latest scandals don't make them look good as a brand. Commission structure is not competitive, especially if the loan is a refinance of a current wells fargo mortgage. Similar to other big banks commission package. If you want to earn more money, you need to work at a smaller company, broker banker etc. who will pay you more basis points for self sourced business. Wells Fargo provides a fair amount of leads, but pays you significantly less because of this. You could make as much money or more on one or two loan closings somewhere else, as you could with four or five at Wells Fargo.

    Advice to Management

    Pay higher commission percentage, better loan fulfillment operations.


  10. Helpful (3)

    "Time to wake up"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Home Mortgage Consultant in Tempe, AZ
    Former Employee - Home Mortgage Consultant in Tempe, AZ
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Wells Fargo full-time (More than 3 years)

    Pros

    Wonderful teammates, slick origination system, great benefits, accepting workplace.

    Cons

    Empty promises from management, unattainable customer loyalty goals, lack of response to employee feedback. Also soft phone system needs updated.

    Advice to Management

    Stop using the line "our customers will want to work with us because of the brand, Wells Fargo is the gold standard"; this is delusional thinking and is continuing to cause harm to the brand because people recognize this as unwarranted hubris. Management needs to realize that after over a year of scandal after scandal they will have to work to earn consumer confidence back -- be more adaptable, nimble and cut the red tape that is slowing innovation. Also set attainable customer loyalty goals to keep your employees motivated. Promote from within instead of promising 6 management trainees they can each have the same position then bringing in someone from outside the company to fill the role -- carrot and stick approach to keep folks motivated does not work with adults who legitimately want to advance their careers. Main thing is to stop drinking the kool-aid and thinking that "the brand is gold" so they don't need to change the way they do business at all.