Pros
I worked for PHL in their Retail Lending Division over 4 years. For the first several years the company was great to work for. There are easy to access self study tools to assist with production & career advancement. My division was helpful, goal oriented & professional. Their benefits are good. Its easy to get additional state licenses, their licensing dept is awesome, as are many of their departments & personnel.
Cons
As interest rates increased upper management seemed to be in a panic. They increased webinar training meetings to almost daily & increased production expectations although nationwide applications were down something like 40% & competitors were closing their doors. Monthly townhall mandatory meetings held by upper management became uninformative & almost as if we were talked at as opposed to be a part of. Upper 1% of producers were overly recognized as production Gods. Obviously managements favorites. We were told to go to Glassdoor & give the company 5 star ratings. We started to see surprise layoffs, although the company boasts they would never layoff. In June I was told my commission would be immediately cut 30%, in July I was reprimanded for low production just after I lost 2 very large approved nonQM loans because their only nonQM source closed their doors. A mandatory meeting was announced 8/1 at 2:30 when HR told many employees & managers they were immediately terminated. Within 1/2 hr I had no access to my pipeline clients. The 1st day I was without a job a corporate LO called to tell me she was instructed to call my entire pipeline. We were told we could apply for UE which I did, UE told me I was not eligible for UE because the company said I was fired. I've been a licensed professional in mortgage lending over 20 years. I have never been treated so poorly, without regard to my worth as a human or member of society. I am not a disgruntled employee, I'm a proud educated licensed professional who wants people know who this company really is.
