Too Many Cooks - Mortgage Loan Processor Lower Employee Review

2.0
Dec 13, 2021
Recommend
CEO approval
Business Outlook

Pros

- The people: I loved my coworkers. Everyone on my team was hard-working and personable. - Comfy hoodies. - CEO seems like a good guy with positive work ethic.

Cons

For my orientation, I was sold on the idea of a mortgage company making the process easier by having one Loan Advisor hold the borrowers hand throughout the homebuying process. Working as a processor behind the scenes, I watched the company add more and more people into the equation. Borrowers began getting calls from processors, insurance agents, loan advisors, and lending coordinators who have only been in the industry for 2 weeks. I could see borrowers get confused and worried as their closing date continually gets pushed back, with loan advisors reassuring them everything is okay while everyone in "operations" is staying late/pulling teeth trying to get this thing closed. This has put so much stress and extra responsibility on the operations department. I know several people (myself included) who left due to the overbearing micromanaging and expectations. Sales will make huge promises that you are then expected to perform, which leads to this job consuming your life. If you can deal with the stress and terrible work/life balance, you'll be rewarded with a shout-out on the morning meeting. If the loan gets cancelled after all your hard work, you'll have low numbers for the month and make less bonus. Benefits: Below average PTO: You'll fall behind if you take time off

avatar
Lower Response
4y
Thanks for taking the time to leave a review. We're glad to hear you were surrounded by great people. We appreciate your feedback and suggestions and will use these to look into your areas of concern.

Explore other reviews about Lower

5.0
Mar 20, 2026
Recommend
CEO approval
Business Outlook

Pros

-incredible earning potential -supportive management that cares about the LO's -All the tools supplied to succeed -Great work culture, lots of fun events -Communication between team members

Cons

- sometimes files take longer than expected to close - unexpected variables in the loan process

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Lower Response
1mo
Thank you for taking the time to share your feedback! I'm glad you value the great work culture and supportive management. We understand some files take longer than expected to close. Lower is continously working to streamline and approve our processes to help our borrowers.
1.0
Apr 6, 2026
Recommend
CEO approval
Business Outlook

Pros

There are limited pros working at Lower. Based on my experience, I would only recommend working here if you're new to the industry. Get licensed, learn the basics, and leave after a year.

Cons

If you have been in the industry for more than a year, you know products, you know guidelines, you know how to sell. That said, find a company with a comp plan that makes sense with a rate sheet that actually benefits the consumer. Ironically, rates at Lower at the Highest in the industry. You'll be asking borrowers to take on a 30-year-fixed -rate mortgage that's 50bps (or more) higher than the industry. On top of the higher pricing, you get paid a fraction of what other loan officers make. Instead of $20K/mo commissions, you'll be making $3K at best. The hourly rate is a recoverable draw so you're making $60K while other loan officers are making $200K+ per year. If that wasn't enough, your loans will sit in process FOREVER. No one knows what's going on. From VP to processor, there is zero communication. Loans will fallout left and right.

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