Pros
Great marketing and sales talk along with the dog and pony show in recruiting. Quick on the initial underwrite and a great closing department. Marketing is great and the CRM is as well. Great events and parties for ops.
Cons
For the most part the staff is trained by Movement and do not have prior mortgage experience. They like to hire non-mortgage people for support staff, processing and underwriting. Challenge is the support staff is constantly changing due to turnover, re-assigning or promotion and more than likely you will be spinning your wheels trying to clear conditions with someone that does not understand the mortgage business and has been in the business for less than 6 months. It is a real time drain. There is no consistent team to work with and develop a relationship with and an efficient work process and flow. Initial underwrite is done quickly, but is not very complete. Additional conditions that should have been added when the file was initially underwritten will be added later. Seems like they never grow tired of re-underwriting files and adding new conditions. Rates are not good at all and when challenged the company has no interest in competing in the local market. They do not have a pricing engine and still use a ratesheet. Be prepared to lose your better deals to rate. If you ask for a pricing exception, they now want you to have the borrower supply a LE from a someone else to demonstrate that the rate is available elsewhere. The process takes about 3 hours to try to get the pricing exception and then the borrower by that time has locked with the competition they got the LE from. Compensation to the loan officer is below average and support staff has also expressed that pay is low. High stress environment as you are never quite sure if there is going to be another last minute condition or some doc that they cannot find in PCL that if not gotten to them quickly your file will not close on time.
