Freedom Mortgage Employee Reviews about "loans"

Updated May 27, 2020

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Found 33 of over 1,346 reviews

3.8
73%
Recommend to a Friend
86%
Approve of CEO
Freedom Mortgage CEO          Stanley Middleman
Stanley Middleman
908 Ratings
Pros
  • "Freedom also does a good job at promoting a fun work environment(in 49 reviews)

  • "Work From Home always an option(in 40 reviews)

  • Cons
  • "No matter how many loans you close, they will make everything possible not to pay you bonuses(in 34 reviews)

  • "Woked directly with Loan Officers(in 33 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Reviews about "loans"

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    1. 1.0
      Former Employee, less than 1 year

      NO WORK-LIFE BALANCE

      May 27, 2020 - Loan Processor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good coworkers. I really have nothing else good to say about this company.

      Cons

      This company will hire a tremendous amount of people and will layoff as fast as they hired. Management is not organized. Bonus structure was never set properly. There are so many other places to work for. I would not recommend working here to anyone. No matter how many loans you close, they will make everything possible not to pay you bonuses.

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      1 person found this review helpful

      Freedom Mortgage Response

      VP, Commmunications

      We are disappointed to read your review but welcome all feedback as that helps us improve as we grow, If you would like to discuss further, feel free to email EmployeeRelations@FreedomMortgage.com.

    2. 1.0
      Former Employee, less than 1 year

      Bate and switch

      Mar 29, 2020 - Mortgage Loan Processor in Buenos Aires
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I was employed and did not fear being laid off because it was hard for them to keep experienced people.

      Cons

      I did not apply for a job with freedom they acquired the company I was employed with. We were told nothing was going to change that we were acquired because of the work that we did and that they wanted to grow our department. Almost immediately after we were taken over we discovered everything we were told was a complete lie. Before we were taken over I worked as an experienced full doc processor for our cquisitions team. Once we become freedom we were forced into a customer advocate position for their portfolio department working on streamlined loans. This position is a major step down for any experienced processor as it is not processing it is customer service. I went from a pipeline of 40 to 50 loans which I worked from beginning until closing and got paid a monthly incentive for each loan I closed with my previous company to freedoms way of a them wanting you to close between 85 to 120 loans with the possibility of getting an incentive if I closed over 85 loans which I don't know anybody who actually got the incentive. This position essentially stalks the customer until you get them on the phone and then off to the next department with the customer getting lost in the shuffle of inexperienced employees passing them off to the next person. If you value your career as an actual processor or someone with aspirations of possibly getting into underwriting this is not the place for you it is a waste of your talent and experience. Do not waste your time! I left for an underwriter position at another company after 7 months of putting up with the bate and switch!

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      7 people found this review helpful

      Freedom Mortgage Response

      VP, Commmunications

      We are sorry to read your review but value your candid feedback. Details about your experience help us improve. If you would like to communicate offline, please contact EmployeeRelations@FreedomMortgage.com.

    3. 3.0
      Current Employee, less than 1 year

      Loan Processor

      Jan 1, 2020 - Mortgage Loan Processor in Buenos Aires
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The rented facility provides Free coffee daily and Donuts every Monday which isn’t provided by Freedom

      Cons

      Plenty Ranked high only because don’t want my review to get shuffled to the bottom of reviews! This place is a joke they bamboozle you here to only find out it’s a call center and actually ran like a call center . You’re thrown out to the wolves after only 3 days of training of which you were blindsided and given live loans to work with only 3 days training on an old 40 year ancient system. Promise a bonus but it has yet to come through and you bring it up the narcissist managers just ignore you. Oh yeah they’ll write you up if you fail to call the customer knowing the reason the delays are because they use cheap title companies.. Complete mess the workload is excessive ..I started here 3 months ago and have 300 loans in my queue . On top of that I get 20 daily ..there system is so old it doesn’t have the capability of much so a lot of manuals work .. nothing wrong with manual except the managers expect you to work at an automated mode.. just ridiculous..And they expect you to call the borrowers every 2 days on top emails and answering inbound calls . I must mention love talking and have no problem calling ..the problem is the structure of the company and when you ask to get more structure You are accused of not wanting to do your job.. and very toxic environment. Lied to about bonuses overtime now has stipulations if you don’t have so many conditional cleared you can’t work OT .. the kicker is the title issues is 80 percent but the employee are penalized so it’s really unachievable even though it’s not under my control. Oh last but not least the facility is very strict they have 2 hour parking minimum in the parking lot so you must park in garage or you’ll get a boot on your car after 3 rd warning ( $50 removal fee )and look it’s scary when it gets dark outside when walking to your car alone. I wouldn’t wish this on my worst enemy. If you need a job I understand but if you have options DO NOT WORK AT FREEDOM... WARNING COMES BEFORE DESTRUCTION . You’re better off singing in water than become a worker at SLAVE Mortgage!

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      8 people found this review helpful

      Freedom Mortgage Response

      VP, Commmunications

      We are so disappointed to read your review of your current position. Please get in touch with EmployeeRelations@FreedomMortgage.com so that we can connect with you. Thank you.

    4. 1.0
      Former Employee, less than 1 year

      They Will Set You Free At Freedom Mortgage

      Dec 17, 2019 - Analyst 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Being able to work from home so you do not have to see all the BS face to face.

      Cons

      Do your research before working here. Do you really want to be part of the following: 1) Freedom Mortgage Corporation Agrees to Pay $113 Million to Resolve Alleged False Claims Act Liability Arising from FHA-Insured Mortgage Lending 2) CFPB: Freedom Mortgage fined $1.75M for intentionally reporting inaccurate HMDA data 3) Freedom Mortgage Corp. Facing Class Action Over Alleged ‘Pay-to-Pay’ Fees on Mortgage Payments 4) Feds put 9 lenders on notice about ‘aggressive, misleading’ VA loan practices 5) Freedom Mortgage CEO buys new oceanfront mansion for $20M This company grows by taking over weak companies and firing the staff. They don't only churn loans (like the VA loans) but they churn people. You never know one day to the next if you will have a job no matter how well you perform. When laid-off, there is no severance and the way it is done is deplorable.

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      7 people found this review helpful

      Freedom Mortgage Response

      VP, Commmunications

      Thank you for your feedback. We would like to connect with you to learn more about your specific work experience. Feel free to contact Letushelp@FreedomMortgage.com.

    5. 1.0
      Current Employee, more than 1 year

      Company is a joke

      Dec 16, 2019 - Loan Processor in Buenos Aires
      Recommend
      CEO Approval
      Business Outlook

      Pros

      They have bathrooms on each floor and free instant coffee. Some very awesome people you'll meet, that are unfortunately trapped there.

      Cons

      They are using cheap title companies, cheap employees, and they look to suck out any extra dollar they can. The CEO will give out enough little treats to keep a majority of the employees happy. If you desperate for a job this is a good place to work and keep applying elsewhere. It is not uncommon for the cheap title companies they use to miss closings or even for funds to not be dispersed after closing. Many people get calls 30 minutes before closing letting them know they have to reschedule for the day. Staff is so jaded there that when customers call saying funds didn't disperse and no they are two months late on a Mortgage that should've been closed out, half of the staff just goes through the motions. There are a few great managers and staff who would do so much better anywhere else. Why they choose to stay there probably out of job change fear, or because the CEO pretends to care enough to make up for the times he berates staff. Loan officers are poorly trained and too inexperienced, Most of the backend staff has roles sent to cheap third-party companies so they can load their staff up and wring every penny the can out of them. 9 times out of ten the reason they are slow to close loans is because of the inexperience, the long delays by their third-parties, the musical chairs they play with employees and departments, and the lack of technology that most mortgage companies today use.

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      3 people found this review helpful

      Freedom Mortgage Response

      VP, Commmunications

      We appreciate your taking the time to post a review and we would very much like to connect with you. Please contact EmployeeRelations@FreedomMortgage.com. Thank you.

    6. 1.0
      Current Employee, more than 1 year

      A joke

      Dec 2, 2019 - Loan Processor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Get your foot in the door

      Cons

      Don’t even THINK of going to the bathroom!! The trainer WILL tell you in front of the class “I did say to be available for the I-9 document”. He talks non stop about HIS great experiences! And, the job description NOR the interview mentioned it’s a call center with micromanaging environment And you’ll be fired if you don’t meet their quota , which keeps changing. Now I know why they pay better than most call centers. My advice, work as a slave, it’s a sweat shop!! do Saturdays, take the laptop home, save as much as you can and when your PTO kicks in at 90 days, start looking elsewhere. Any other place that appreciates a loan processor PROCESSES loans a loan officer gets and is NOT on a dialer

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      6 people found this review helpful

      Freedom Mortgage Response

      VP, Commmunications

      We are sorry to read your review, especially from a current employee. We would like to hear more. Please contact EmployeeRelations@FreedomMortgage.com.

    7. 2.0
      Former Employee, more than 3 years

      Manufacturing But With Computers

      Jun 22, 2019 - Processor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Team focus helps pull everyone together

      Cons

      Rigid focus on meeting targets, feels like you are manufacturing loans more than anything else given the "assembly line" feel. But perhaps things have changed since

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      Freedom Mortgage Response

      VP, Commmunications

      Thank you for posting a review. Glassdoor allows us to learn about our employees' experiences and we appreciate your feedback.

    8. 2.0
      Current Employee, less than 1 year

      bad salary structure

      May 2, 2019 - Loan Officer 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      good learning environment, dont put in more than 6 months to a year

      Cons

      always changing salary structure making loan officers earn less for same loans closed

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      Freedom Mortgage Response

      VP, Commmunications

      Freedom Mortgage values your feedback and would like to learn more. Feel free to contact EmployeeRelations@FreedomMortgage.com if you would like to discuss. Thank you.

    9. 3.0
      Former Employee, more than 1 year

      Good starting/learning place for your career as a loan officer

      Apr 4, 2019 - Mortgage Loan Officer in Buenos Aires
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Salary is good, great people to work with, often fun competitions for prizes or cash for doing your job, and casual work environment (Tempe)

      Cons

      Constant change of commission structure, paid by how many closing (not by size of loans), need a min of 6 closings to make any money on commission(kept increasing). Micro managed, junk leads if you're not top tier or just starting

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      4 people found this review helpful

      Freedom Mortgage Response

      Communications Director

      We are glad you found Freedom Mortgage to be a good starting point for a loan officer career. Thank you for sharing your pros and cons. Hearing your advice helps us improve.

    10. 1.0
      Former Employee, more than 1 year

      Worst job I ever had

      Nov 1, 2018 - Loan Officer in Buenos Aires
      Recommend
      CEO Approval
      Business Outlook

      Pros

      None I can think of

      Cons

      empty promises, no follow-through by management, LOs don't know what they're going to be paid on their commish checks. No work-life balance. You can do everything in your power to make sure your loans fund but in the end they will pull the rug out from under you end of the month, whether it be by laying off a bunch of processors/underwriters, or not pushing your file along

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      1 person found this review helpful

      Freedom Mortgage Response

      Communications Director

      We are always looking for ways to improve our employee experience. Thank you for your feedback.

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