Mass Layoffs No Warning - Lending Coordinator Lower Employee Review

1.0
Apr 11, 2022
Recommend
CEO approval
Business Outlook

Pros

Only the people that you meet that you work with day in and day out

Cons

Partners/owners in the company have zero clue of what is actually going on in the company. Mass layoffs over and over in the operations departments. We were all hired with this promise you will be in the LC position, trained in that position very short time and move up to processor with a nice fat raise in a very short time! In a years time there have been 5 mass layoffs with no rhyme or reason. The "party" celebration award ceremony Dan Snyder stated Lower was hiring 1800 new employees this next year and 3000 in the next years. Where are these people? You cannot run a mortgage company on just sales and IT people. Who will do the processing of these loans and processing and underwriting. laying off the LC, LP, UW, DD and closers? Be aware consumers your private information is now going overseas. Lower.com is outsourcing your private information to overseas companies without you knowing it. All the things out there about Lower being great! They are all forced upon the employees to complete. Employees are "encouraged" to complete glassdoor reviews, when other reviews they are encouraging us to complete them to those of us they are "randomly" sent to our work emails of those of us that are chosen. Those people that are in power HR, VP's and such the "untouchables" are all friends and buddies at Lower and will never be laid off or in fear for their jobs. They have gotten to follow Dan from place to place.

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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