Lower reviews

3.6

58% would recommend to a friend

(188 total reviews)
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Dan Snyder

73% approve of CEO

60% positive business outlook

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188 reviews

Reviews about "Compensation"

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1.0
Feb 17, 2022

This is not a fake review

Recommend
CEO approval
Business Outlook

Pros

Lower paid for my licensing. Met some great people.

Cons

Pull up a chair and get comfortable. Unless you’re sitting in the office at Smiths Mill, I’m sure your AVP will be walking up to ask you about an update for an application you took on a borrower with a 574 credit score and no assets. Be sure to send them to ASR! So yes, first con is micro managing. It got much worse as time went on. Waiting over 2 hours for your phone to ring so you can take an app is super exciting. And then being questioned about why you’re not taking leads is even more exciting! The draw for commission should be illegal. At least that’s how it feels. Yes, we understand how the non-recoverable draw works. But just because you’ve gotten really good at explaining it, it doesn’t make it right. It’s terrible. Absolute hot garbage. Sure, young adults straight out of college will buy into your cool hip culture where you see the same 5 people on the lower Instagram everyday. But at the end of the day this company is just lying to you. That’s why I’ve seen AVP’s leave and multiple seniors leave. We need money. And everyone who has left is automatically making more money. If you’re reading this and on the edge. YOU NEED TO LEAVE *tik tok sound* Operations and Sales hate each other basically. It’s not sales fault when you haven’t sent closing instructions to title 24 hours before closing. Or maybe it is Sales fault, I mean we do have to get into sooo much back end at Lower. No worries, your managers will make that seem like a normal thing in the industry. CoughcoughITSNOTcough There’s some cocky people that walk around the sales floor and it doesn’t make sense. Like I see what you drove into the parking lot today, you’re not pushin P and you’re barely pushin 50k per year. The candy at the front desk is BAD. Yea, the innocent front desk lady is not getting out of this review unscathed. Can’t wait for the HR person to respond to this email about things they’ve never experienced

2.0
Feb 16, 2022

You will love it, at first.

Recommend
CEO approval
Business Outlook

Pros

Lower does a great job training people in mortgages 101. It's a great place to learn the fundamentals of the industry and see whether or not it's for you. You'll meet amazing people and develop great friendships. Perfect place to network for future opportunities (see cons).

Cons

Because Lower hires people completely new to the industry, they are able to take advantage of their ignorance of industry standards and pay employees far below market rate for MLOs. My advice is to learn as much as you can for 6 months and then see what you're worth in the marketplace. However, don't let anyone know you're looking at other opportunities as you will be confronted about this by management (as if it's a crime to interview at other jobs). Lower's business model attracts two main types of borrowers: the desperate and the rate shoppers. Again, great for beginners because you learn sales, objection management and how to drag a messy loan to the finish line, but that's not pretty. They expect a SIGNIFICANT amount of their loans to blow up. I'm guessing between 30-50%. It's not fun telling the people you're trying to help that it's actually not going to work after you've hyped them up to an insane degree. This isn't just a matter of someone not getting into a house, this is extremely disruptive to their lives. This failure rate is absolutely unacceptable at other lending companies.

3.0
Feb 14, 2022
Recommend
CEO approval
Business Outlook

Pros

Good Culture Growth Potential Nice Location Nice office Amenities Bonuses

Cons

Somewhat Low pay Unorganized Lots of Turnover Unpredictable industry Limited PTO

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