Pros
Good work-life balance. Most employees are friendly. Good starting point as a first job. Helps you develop your time management skills. No micro-management in consumer loan department.
Cons
-Monotonous and tedious tasks as a loan processor. Call center atmosphere. -Growth and advancement is limited. For instance, loan processors mainly have the same responsibilities as loan officers but pay is lower and they do not have lending authority. After being promoted to a loan officer, the next step up is eventually being apart of the credit committee. There they still have the same main responsibilities of a loan officer, but you now review the write ups and recommendations made by loan processors and loan officers who do not have sufficient lending authority. -Lack of leadership at middle management level. -Understaffed customer service department which leads to overflow of calls into other departments.
