mortgage processor

loan processor

mortgage closer

licensing associate

call center representative

Digital-Risk

Where do I begin.....lets start with the rating! The only reason I gave them one star is b/c it was required to give them something! But they deserve NOTHING. Digital Risk is an absolute joke! I was hired as a Loss Mitigation u/w. Digital Risk solicits work from outside venders (this is not disclosed in the interview). therefore over 52 ppl were hired as LM underwriters for a "project" they had just picked up. Within 2 weeks I regreted my decision to come there. They hadn't obtained the proper licensing to properly run the project therefore for about a month we were demoted to being processors! Finally the project was up and running (at least we thought). The project was the worst we served as the "middle-man". Digital Risk over promised the client on a regular basis in turn over working their employees. Im talking mandatory OT for like a year straight! You were obligated to push out at least 5 loans a day when the clients employees were only required to push out 2, yet we mirrored the same work process as them! (unrealistic) Absolutely no work life balance. Management had no idea what they were doing so how could you possibly know how to relay what the client expected to your employees?? They couldn't and as a result people were stressed out, feeling under appreciated, over worked and OVER DIGITAL RISK! People were leaving just as fast as they were coming in (and they will hire you QUICK as long as you can pass an u/w test!) Management was/is rude. There were times they would literally come to the floor and yell SHUT UP!!! (seriously! This is a true story none of this is being made up) They promoted without posting the job or even asking the ppl they promoted if they wanted the job! You were forced to take the positions to stay in good standing with the "higher ups'! Needless to say the project ended, and as a result SO DID YOUR JOB!!! If you were promoted to a higher position such as a performance supervisor, when the project ended you were demoted BACK to a reg rep! (TRUE STORY) They let several people go and kept a few placing them in a Forensic U/W role. We were told we'd have 3 weeks of training, be given a team lead to help us get to where we need to be, and in 90 days we'd be expected to perform. In typical DR fashion the training was horrible, management never acknowledged the huge disconnect between a LM underwriting and a forensic u/w. Even after it was expressed to them several times. Instead the training was rushed in a matter of fact kind of way. we were thrown onto the floor expected to perform. Most of us kept up producing our 1 loan a day making quality scores of 95, 90's 80's etc (fake it till you make it). The team leads that were there to help you perform acted as if you were bothering them (don't get me wrong there were a few who actually took the time to educate) But there were more who didnt' than those that did! within less than 26 days Management laid off at least 20 ppl that came from the Loss Mitigation project siting that their quality scores and production was low. HOWEVER one person received 3 perfect files, and a few others were told they were doing a wonderful job, there production was were it needed to be, and the quality scores were fantastic. Excuse my french but "dont p*ss on our heads and try to convince us its raining!!!!" If they wanted to let people go they should have just been honest as to why! who knows what the real reason is. Seems like they probably wanted to get rid of us after the first project ended but b/c they pride them selves for being a company that doesnt layoff or downsize they played their cards right! I did mention that they let at least 20 ppl go at one time calling it a termination, refusing to call it a layoff for unemployment and reputation purposes. BUT reminding them that they were all re-hireable! WHAT A JOKE! Who wants to come back there?!?!? the only plus for DR is the pay! but really I cant say that b/c their insurance is SO HIGH, you pay it all back in benefits! and they OFFER NO 401k MATCH. There is sooooo much more shady things that go on there. I would be sitting here writing forever! But I dont have to b/c their reputation speaks for itself (IDK about the other offices....but the Jacksonville office has a really bad rep!) There isn't too many places you cant go or people you cant ask that will tell you that Digital Risk is a horrible place to work. NIGHTMARE ON GATE PARKWAY!!!

Working for Digital Risk was great for the most part. Due to the position being created because of the 2020 pandemic, the remote on-boarding process was a bit of a circus. Recruiters were trying to get as many people hired in a short amount of time, which included them giving misleading info about shift and schedule details. I was told it would be "normal business hours of a bank". But when I got hired, I was told the evening shift was all that was available and that they didn't know why people were being told that. The way my life was at the time, I simply couldn't work those hours, and was willing to walk away. After some back and forth, and several management changes (unrelated to the work schedule conflict), my set manager at the time worked hard and got me the preferred morning shift in order to keep me on board. 

Pay was great for the work. Ample training to learn the job, although the QA Process was a major headache with housing laws changing all the time. It was almost as if the QA process didn't keep up with changes and they graded your work based off of abrupt changes that they didn't take time to train you on first.

Only major con was the project ending process. The contract lasted a total of 3 yrs, but throughout, management kept telling everyone that our jobs were secure...until they weren't. This was done so that people wouldn't start leaving the company.  Many people got 1-2 week notices after being told their job was good, depending on the department you worked in. I understand its a contract job that could end any time, but it was very disheartening to have "higher ups" reassuring people of their job, just to do clean up work and then be let go to send for themselves in a pandemic stricken economy.

Started after COVID. I worked in a mortgage processing project. It was my first time in the mortgage industry. I was promised extensive training and guidance. Unfortunately, the amount of mortgage applications coming in continued to increase. As a result, the training was expedited and we were thrown to the wolves without being fully prepared. Management was very busy. It was difficult to get some help/ guidance as a new mortgage processor. Also, many of the trainers, managers, and underwriters were new. Thus, even if they wanted to help, the didn't know much. There were days that I had trainings or testing and I was expected to complete the same amount of work. I would get a day's worth of work and have less than 1/2 a day to complete it. Taking a day off was also difficult because it would mean that I would have twice as much work upon my return; and that my teammates would have to call my clients and they were already extremely busy. Due to the workload, we were required to work overtime every week. Clients were very upset due to the long application process, which was not our fault. This resulted in very stressful days with very little help. This was the most stressful job I've ever had. The salary was great. However, benefits not so good. Overall, the salary does not compensate for the stress. Maybe after the market stabilizes, it will be less stressful. Maybe it will be less stressful for someone with extensive mortgage processing experience. 

The only reason I'm still here is the ability to work from home. As soon as the next career comes along I'm gone. Management has no idea how to manage or even what each other is requiring of the staff from day to day. They are great at passing the buck and not finding a solution. I have been in the mortgage industry for almost 20 years and their is no one in a management capacity that has a clue how the Forensic Loan reviews we look at were originally underwritten. The processors who never underwrote are running the show. They just make it up as they go along. Over 900 people have been promoted in the past two and a half years in a company of around 1,800. Can you say HUGE turnover? I've seen very experienced underwriters systematically run off for trying to do the right thing. If your not in their clique you are treated as a second class citizen. So many different people review for quality it's impossible to have any chance for earning a bonus. OT is mandatory ALL the time. We get told that the OT is the bonus and should be happy we are allowed to work it at all. Micromanagement is insane and ridiculous. Benefits are already expensive and not very good and there is no match for the 401K. Rules and guidelines change almost daily and aren't even communicated until you get hit on quality for it. I could go on for a long time so just remember, DON'T Drink the Kool-Aide!

Communicate with Management on Subject Matter Updates related to Scope of project. ‘
Maintain extensive knowledge of Subject Matter, Scope/project, and updates.
Investigate, trouble shoot and problem solve to give guidance to Underwriters and Quality Control Specialists to assist them in making decisions. 
Relay subject knowledge to advise Underwriters
Give guidance to Underwriters, Junior Underwriters, and Quality control Specialists, related to scope.
Review files with Forensic Underwriters and Quality Review Specialist and help navigate through files properly in order to maintain quality control. 
•	Review and analyze loans purchased by Freddie Mac 
•	Review loan to make sure the loan met the loan requirements of the master agreement, approval and Freddie Mac guidelines
•	Review documents provided in the loan approval.
•	Review and calculate financial documents such as bank statements, paystubs, verification of employment, verification of deposit, retirement portfolios, etc. 
•	Review appraisals and comps  to confirm adjustments are meet guideline requirements
•	Review Original credit reports with audit credit report to make sure there was no undisclosed debt at time of closing. 
•	Complete 1008, calculate ratios, reserves, LTV/CLTV, and  loan program
•	Decide if loan needs to be repurchased by the bank that Freddie Mac received the loan from or if the loan should stay with Freddie Mac

There is zero communication which sets you up for failure. They have a 5 year history in Jacksonville of mass hiring then mass layoffs. They deceive their clients by not giving the client the full picture despite the loans being in litigation. The managers and team leads are fake, and honestly act like they are some supreme beings when in fact most employees there have more education and experience than they do. They have their favorites who run and tell them everything as if we were in kindergarten. Immature and inexperienced team leads and management. I was above them and the job. I never wanted to work there because of their horrible reputation in Jacksonville, but needed a job at the time. I'm glad I left because dealing with 5 year olds got old really fast. I feel sorry for their clients, but that's why they keep losing them and have mass lay offs. Only work here if you have no other job options. Pay sucks, benefits suck, the whole company sucks!

As a Junior Processor on the Bank of America project, my first priority every day is to prepare the reports for the Processors that I support so they can create a schedule of items that need to be addressed throughout the day. My next priority is to set up the new files that are received. This includes running the file through multiple  systems and send the welcome package to the customer. Once these tasks are completed, I verify employment and income  of the customers as well as update and verify coverage of the homeowner's insurance policy. This will allow the Underwriter to have a clean and complete file to underwrite. I then must ensure compliance documentations go out to the customers when needed so that Digital Risk will stay in compliance with Bank of America and government regulations. I have enhanced my time management skills by being able to complete the many responsibilities of the day while also helping processors with issues they may run into throughout  the day.

There was never a typical day at Digital Risk. Job functions change daily due to no work available. The company does not tell individuals before hiring, work has to be solicited from companies. The contract work ends and possibly so does your job. The director leading down to the lower mangement does unethical things and feels it is ok; if for the good of the company. An example would be changing of review scores for one race and improvement plans for other races. This lead other races to failure and score change race to success before thirty days. The benefits are extremely high and you would do better obtaining an outside policy. The training was not consistant. There is no education reimbursement or 401k matching. The underwriting is not underwrting but proof reading previously processed work for many financial institutions. The company would be great to work for, but ethics must become a daily part of the routine.

A typical day for me at digital risk is pretty much laid back. The managers in my department are friendly and are willing to help with a moment notice. Over the duration of time i spent working at digital risk i learned a lot about the mortgage industry. Including how a loan is originated, some of the guidelines used in a origination process and what happens when a loan may be subject to a foreclosure or a short sale. Everyone on my team is friendly and we are a close knit group. Management in our department realizes that from time to time every needs a break and they often come up with fun team building activities. The hardest part of the job may be when we are given a special project at a moments notice and have to complete it within an extremely short time frame. The only major negative part of the job is its high susceptibility to market conditions. It causes concern for job security if the market conditions changes.

Digital Risk was a terrible company overall. Most of the management had no clue what they were doing. The only reason the company survived is because of the people that were put in place that made things happen, and knew how to get the job done. What do you get for your years of hard work and dedication. Laid off. The company kept people that had no prior experience in the industry and/or had poor overall performance, just so they could keep the tax payers money. They are a typical corporation that only cares about the bottom line and does not care about the employees or the lives they have had shattered.They are now looking to have a temporary work force rather than full time staff to avoid unemployment when this will happen again in the future. The are an Indian owned company that is already beginning to outsource jobs that can be done for cheap overseas labor. I hope the decision makers can sleep at night with the decisions they have made. I personally would not be able to. BEWARE if you go to work here.

Top Job Titles	Average Salary
Mortgage processor 3 salaries reported	$25.00 per hour
Loan processor 3 salaries reported	$55,000 per year
Mortgage closer 3 salaries reported	$53,333 per year
Licensing associate 3 salaries reported	$17.00 per hour
Call center representative 2 salaries reported	$20.00 per hour

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