PLEASE READ AND BE CAREFUL - Sr Loan Officer Lower Employee Review

1.0
Apr 12, 2022
Recommend
CEO approval
Business Outlook

Pros

There is really no reason to work here to be honest

Cons

To start off recruiters are all liars. They scope around LinkedIn looking for people who are looking for new opportunities and work this place up to be the best in the business. They will throw whatever comes to mind in hopes you stick and accept the job offer. I was told the company is growing and that there are no layoffs to come but after a lackluster of 2 weeks of training they started firing people a month in. You may think, oh 2 weeks is enough training to get the process going. What they don’t tell you before you onboard is that during the two weeks you get two one hour sessions of them going over what they assigned to read. To top that when you ask the trainer to explain something they literally run it through with no explanations. Back to the recruiters: I was told we would get to work four 10 hour shifts and get a 3 day weekend, that was a lie. I was told we would have a minimum 5-7 QUALIFIED leads, that was also a lie. The leads are all trash and they expect you to make lemonade out of garlic. Yeah doesn’t make sense. They said they pride themselves on work life balance to turnaround and say but you have to be available 24/7 to make sure we are keeping the clients and realtors happy. To go along with that 24/7 expectation, they also want you to use your personal cell phones in the attempt to make us available to the client whenever they please. They said we get 3 days of sick pay but failed to tell us we had to work for the company for 90 days. I would be very careful when speaking to these recruiters because all they want is that bonus after you agree and onboard. Now to the job itself: The metrics are unrealistic. They want you to meet a certain number of completed applications and pre qualifications, but also want you working on in contract clients. They are FAR away from being a Fintech company. I honestly felt like I was working on windows XP the whole time. There’s no automated application process and we had to take application over the phone which took on average 20-25 minutes. Then they want you to pre-qualify this application same day, but also maintaining the rest of your metrics and processing files. For you to even get an application you have to fight off your peers to steal a transfer call in hopes you get a lead. It’s literally a dog eat dog world and your peers are more than willing to steal a file from you regardless of how long you worked on it. And they have brain washed everyone to think that is okay. All in all this is a very terrible company with toxic culture where upper management could care less about their employees because they are more than willing to fire you if you don’t meet your weekly targets. No assistance on how to get better or warnings just straight cut throat.

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.

1
See reviews by: Helpful|Rating|Date|All