Stay Away from this Company - Loan Officer Lower Employee Review

2.0
Feb 5, 2023
Recommend
CEO approval
Business Outlook

Pros

Great people work here, very relaxed work environment. They hold company happy hours and events to show appreciation.

Cons

Not an environment set up to help you succeed. Lead distribution right now is completely unfair with half of us taking calls from people who have no possibility of buying a home and the other half of us are taking leads from people who are pretty much in the process of buying a home already. Nobody except maybe 10% of sales is making any money. Leadership is an absolute joke and just like all the other reviews said we’ve been fed empty promises and lies for two years. Once a very happy place to work lots of people, great trainings and opportunities for growth but like other mortgage companies this one was severely mismanaged and they did massive layoffs leaving many people high and dry. Everyone is looking for the door. There is no confidence this company will succeed in the future. I’ve had many conversations with competitors as I decide if I even want to continue in this field. There’s a consensus agreement amongst competitors this company probably won’t last through 2023. They claim they’re fine but are slashing cost at every turn and if that means your job then oh well they could careless. Currently aren’t making employees happy nobody is making money and these idiots are talking about hiring loan officers again. Good luck with that you can’t even make your current employees happy. Lied to all employees about company ownership. Told us we would receive a piece of the pie but forgot to mention we have to buy our way in lol so you expect us to buy into your failing company when your under paying us anyway?

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Lower Response
3y
I can assure you we are not going out of business. We had to make tough decisions in 2022 to battle the change in the mortgage industry. With 2022 behind us, in 2023 we are committed to getting back to growth and opportunities for our team members.

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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