Going Downhill Fast - Anonymous employee Lower Employee Review

2.0
Jul 12, 2022
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

-Co-workers in my department were fantastic; plan on keeping in touch with several of them; genuinely wonderful people -Beautiful campus/facility in a quiet part of New Albany -Cafe on the 1st floor makes great breakfast and coffee -Company hired me during the middle of Covid even though I never worked in the mortgage industry previously, so I am very grateful that Lower got me back on my feet after I lost my previous job due to Covid -Barber shop on first floor with FREE haircuts -- Jomar is great at what he does! Will miss him. -Cool Lower shirts/hoodies available for around $15-$20

Cons

-No remote/hybrid flexibility --> our manager only let us work from home if there was a level 2 snow emergency or greater, even though our team's production was nearly identical (remote vs. on-site) working remotely during the snow emergencies; this suggests to me that management has trust issues in their own employees, which seems odd to me (why did you hire them in the first place?) -Unusual PTO policy --> vacation time and sick days are COMBINED, so hopefully you are somebody that does not get sick often, otherwise, you will not have many vacation days -Lack of growth --> point blank, there was ZERO room for growth in our department; did not see a single promotion in our department in a year and a half, and trust me, that was not because we were lacking talent -Inexperienced management --> A vast majority of department VPs/managers are employees that were Day 1's and were put into their roles by default; I would estimate the average age of VPs/managers is around 30... Feel like most sales VPs/AVPs especially only got into their roles due to their sales numbers and not due to their actual leadership qualities. -Micromanagement --> ties into a couple previous points, but the lack of quality leadership reflects in the constant micromanagement and "helicopter parents" that are in management; again, where is your trust in your employees to work independently? -Industry trajectory --> Morale at Lower was terrific in summer of 2021 when rates were historically low and business was booming; now that rates are climbing back towards 5%, employees are being laid off in bunches and morale is crumbling -Lack of communication --> I don't think anyone outside of the executives has a clue as to where the $100 million in Series A funding has gone towards because it certainly is not going towards retaining their current talent and growing the department teams in quantity...those teams are steadily decreasing across the board -Layoffs --> Related to previous point, if you are in sales/ops especially, unfortunately, your position is hardly safe and Lower has done multiple rounds of mass layoffs since fall of 2021 (some great people included!) -401K match is brutal, so this is not a great place to work if you are looking to build your retirement/post-career funding steadily

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Lower Response
3y
We appreciate you taking the time to provide feedback on your time at Lower. We agree that we have an extremely talented group of employees and are happy to hear that you enjoyed your time working with them! Being a great place to work is a priority and our Leadership Team is actively working to solicit and act upon employee feedback. Flexible work arrangements, Increased PTO, and Additional Manager Trainings are just a few of the items that we have addressed in 2022 so far. We wish you the best of luck in your new endeavors!

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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