Turn around and keep applying elsewhere.... - Senior Loan Officer Lower Employee Review

1.0
Mar 10, 2022
Recommend
CEO approval
Business Outlook

Pros

This has held me over as a placeholder while I look for better opportunities elsewhere. The other employees were cool.

Cons

Again this was a placeholder, the pathetic "base salary" (it's really a draw you'll never cover) and the low BPS are not attractive for experienced loan officers. The wArM lEaDs (the piles of subprime credit score files) are hot garbage in a slowed down market and yet they keep spewing the "high growth, we're hiring new people" BS. Not one mortgage company in the country is busy enough right now to be bringing on dozens at a time. The software and systems used are antiquated and they use the cheap low end version of Salesforce. "Sales" trainings are laughable. Managers/Team Leads or "SVP's" as a they like to call themselves to inflate their egos, will not support you and will make you feel stupid when you're all still lost weeks in. SVP/AVPs at actual banks and reputable lenders would laugh if they witnessed this company. On top of all of these existing cons, if you are brought on as a remote employee, you will not be properly trained on any of it. We worked with the trainer for maybe two hours a day and were told to work through the curriculum for the other hours. It was absolutely demoralizing. Managers/Team Leads or "SVP's" as a they like to call themselves to inflate their egos, will not support you and will make you feel stupid when you're all still lost weeks in. I didn't speak to my team lead 1 on 1 for my entire first month and the first time I did it was a reminder of why I continued to spend any free time applying to legitimate companies.

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

avatar
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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