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American Equity Mortgage Employee Reviews
Work environment was intolerable due to constant berating of management to sell predatory loan products. The only advise given by management was to tell customers we were the best & not to discuss rate.
Great company to work for, I have been here for almost a year and I have needed minimum supervision. I am very productive on my own and manager gives me the freedom to use my talents and focus my talents are recruiting new talent.
I did like my job. Demands and the access to meet demands made it very difficult to meet them. New management is untrained and has no experience. He could not manage his time for what is needed for the position.
Great conversations working with clients
Great Mortgage Company to have an opportunity to work for.Great Mortgage Company to experience the warm family atmosphere Great Mortgage Company to learn the mortgage field.
There are all Pros if you work with this company
I left in 2008 when the economy crashed and am happy to not be in the line of work anymore. Met some great people I still connect with.
Just don't, never never again will I!! This company has a very poor moralistic, ethical and respectful environment. Managers literally scream at you to dial out and convert sales every morning. The tools to guide your loans to close are very poor and it's tough to get deals to close. Getting deals is pretty easy but it's getting them to pay you that's hard. You must keep license for each state you want to originate loans in and you have to be ready for true cold call sales dialing random people for business. You will have to read a script to a stranger and try to get personal information while they don't know who you are or the company you're working for!!!
Your own office, Customer face to face interaction
Mean managers who curse at you, loans never close, poor performance and resource tools, high turnover, cold calling, hard to get loans to close
The only positive is you are only required to work 40 hours/week and you are usually off by noon on Fridays. However, you will only make 40k/year if you work 40 hours. Top leadership, not much good to say there. Basically no opportunity for advance, you're going to be an originator and that's basically it.
Comp, management, job culture
Fun place to work with a good atmosphere. Management is very accommodating and understanding. Over all a decent place to work.
The company is very unethical and treats many of the employees like garbage. The people that have been there the longest stick together and steal deals from the newer people. I would not recommend this job to anyone.
Literally Everything about this company.
people are great to work with very helpful but the sales process from start to finish has way too many variable that you cant control which makes it very difficult to close loans.
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This was a great learning experience as I learned everything there was to know about loan originating. This included knowing about the different Terms, Rates, Documents needed, Processing, and underwriting guidelines. Learning how to read credit reports for debt to income ratios. I also became acquainted with Title and Appraisal companies. Grateful for this knowledge, I was able to teach many if not all of my customers the process throughout the loan application from start to finish. This
in turn made a very satisfying experience for both the customers as well as myself.
I worked for them when lending was still the wild wild west. It was all about huge fees and raping and pillaging. This was late 90s early 2000, so hopefully it has changed. But basically it was very unethical and they just did sub prime loans and sucked the value out of any equity that may have been left on anyone's home. Especially those who were ignorant to finance. I could not take it and had to leave because only a sociopath could continue to dress in fancy suits and make 100 k could continue to exploit the less fortunate. But dont place all the blame on them. Huge lenders that you still see today had sub prime products that account executives pushed very hard. In some cases that account executive would do the appraisal on the subject property! HELLO! There is no way half of North County St.Louis will ever be able to refinance or sell their property. Lets hope that things have changed there.The phrase loan officer should never be used in association with someone who could and would put their own interests first over their borrower.
exploitation of the less fortunate
Good company to start in the mortgage business. This is a strictly sales job.
My job is to develop relationships with real estate agents, influence them to refer their home buyers to me and then to oversee the processing of the loans to closing.
Flexibility of hours and I was given the ability to develope y own sales techniques.
The processing, and back room support that I needed to make sure that my loans closed as schedules was not up to par, pricing was not competitive
• American Equity Mortgage – Top producer increasing revenues $15,000 - $40,000 monthly beginning the first month of production.
bad place to work. management is awful, but they do create a great opportunity to learn how to sell
The compensation was good. Because of the Mortgage Industry being a little slow. There is always a chance that you could be laid off.
I moved to several different departments at American Equity Mortgage which allowed me to learn different areas of the finance industry. In processing I learned the basics of mortgage lending and how to analyze credit, title, taxes, appraisal, and income documents.In the IT Department I learned how the database and reports fuels the daily operations of the company while learning some programming.In Loan Sales I learned about closing loans, funding, trailing documents, customer service, and investor relations.
Collectively working at American Equity helped me learn how to thrive in a fast pace environment and how to properly communicate with individuals.
All in all this is a good company to work for. My manager is great and the other local branch also has a great manager. The industry still is very tough and our investors make it hard to get loan approval for fear of loan buy back. Co-workers are a good bunch of hard working guys. The hardest part of the job is having to carry individual state licenses and the costs associated with that. The most enjoyable part of the job is being around my co-workers. We work hard and we play harder!!
They pay for your leads
Difficult process to get loans closed and the conditions are usually redundant
It was decent experience. There could have been a higher level of professionalism, but a decent entry level place to work.
Category: American mortgage