Pros
Lower does a great job training people in mortgages 101. It's a great place to learn the fundamentals of the industry and see whether or not it's for you. You'll meet amazing people and develop great friendships. Perfect place to network for future opportunities (see cons).
Cons
Because Lower hires people completely new to the industry, they are able to take advantage of their ignorance of industry standards and pay employees far below market rate for MLOs. My advice is to learn as much as you can for 6 months and then see what you're worth in the marketplace. However, don't let anyone know you're looking at other opportunities as you will be confronted about this by management (as if it's a crime to interview at other jobs). Lower's business model attracts two main types of borrowers: the desperate and the rate shoppers. Again, great for beginners because you learn sales, objection management and how to drag a messy loan to the finish line, but that's not pretty. They expect a SIGNIFICANT amount of their loans to blow up. I'm guessing between 30-50%. It's not fun telling the people you're trying to help that it's actually not going to work after you've hyped them up to an insane degree. This isn't just a matter of someone not getting into a house, this is extremely disruptive to their lives. This failure rate is absolutely unacceptable at other lending companies.
