customer service representative

senior loan processor

mortgage loan originator

branch manager

loan officer

Finance of America

I will start with the GOOD- Team Managers are excellent. Leads are decent. Their marketing machine is  tops, and helps others in the reverse industry who don't advertise because people become curious about reverse mortgages and start to look around for better pricing.
THE BAD-AAG has the highest pricing compared to other competitors They do not offer some of the same incentives like other reverse lenders. Also the processing of loans takes a VERY long time, even the clean files. Borrowers end up going to competitors because AAG takes so long to close a loan. They will sit on a clean file for two months. The processors are stretched thin.
EXEC MANAGEMENT-Since AAG was acquired, the AAG Executive management are a thumbs down. They are not open to listening to feedback from the employees and they have a shareholders over employees mentality. Going public has made this company's culture go downhill. They are beholden to shareholders getting a ROI rather than investing in their emoloyees.
SALARY & BENEFITS-The lowest salary in the reverse industry. When you bring this up, their response is to do more loans or every one else in the company needs to get paid as well. Without LOs there would not be any business. You are paid on the UPB!!!! Yes you read that right, paid less than half a point on the UPB. Plus, you are paid hourly and cannot work any OT. 
Suggestion- Pay per loan and a decent salary. At least meet or exceed the competitors. We all have friends or old coworkers at the competiton and know how much everyone gets paid. We all share salary and benefit information. These are not fair wages, especially in a high rate environment.
That brings me to my next point. They expect you to do 22 loans a month in this environment. The numbers are unrealistic. They have the same conversion numbers as if the rates were still low, plus you cannot fund that many loans when processing  takes a VERY long time.
The health benefits are not good. They are expensive and you get very little.
OVERALL- I would not recommend anyone work here. Do your research. The other reverse mortgage companies have better pay and a better culture. The same AAG Team that made AAG go out of business is now running the show at AAG-FAR.


When I was hired, I joined a brand new beach and worked for amazing managers. One of the account executives was a little out of control but because he was the biggest producer he got away with murder, so to speak. Then our brach was reorganized, the branch manager was let go along with a lot of the support staff and all of the wholesale branches were merged together. This was a poorly thought out and executed plan. No one knew what was going on, proceedures were changed with no communication; managers had too many employees to manage and interact with, management often fails to respond to requests for help. This company harbored a culture where the account executives never respect the underwriters, causing the underwriters to have to escalate most loans/conditions to management and then management told underwriting to stop escalating issues to them. It has become a miserable place to work. It seems that everyone across most departments are frustrated and unhappy and the culture/attitude is palpable. There is a “pass the buck” mentality where all departments seem to look for reasons to stop the loan in its process and send it back to underwriting; underwriters are the only ones who can and do look at everything. There is no initiative taken by anyone else to try and figure things out. In my 15 years of underwriting, it is hands down THE most inefficient company I have ever worked for.

	Verifies, compiles, and types application information for mortgage loans: Reviews residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment. 
	Calls or writes credit bureau and employer to verify accuracy of information.
	Accountable for performing a variety of loan documentation duties on complex loan packages to ensure compliance with company policies and procedures for loan products.
	DU/LP experience
	Handle delicate situations with diplomacy and tact.
	Ensured all policies and procedure are followed and all compliance regulations are met.
	Responsible for processing mortgage loans, signing off on conditions as delegated and preparing for closing doc draw processes.
	Review title and requirements, exceptions, and other information obtained for accuracy, completeness, and conformance.
	Ensure file meets minimum documentation /product guidelines
	Review credit, disclosures, order title, and appraisal.
	Completed required checklist/worksheets.
	Obtain additional documentation needed from all sources
	Prepare closing instructions and review required loan documentation and Closing Disclosure for accuracy.

Management is available and willing to listen to concerns and answer all questions. If you are ever interested in dipping your toes in other departments (Processing, LOA, Marketing, ect) management is eager to help you add more tools to your tool belt. Benefits are great. Time off is approved (within reason) and management understands that employees have a life outside the office. Before the difficulties of COVID, the team would plan fun team building events. Strong work ethic and long days are expected during what we call "crunch time" but all team members know that they are appreciated. Fun and encouraging team, great people, quality > quantity attitude - although the quantity coming in right now is astronomical.
The mortgage industry has skyrocketed in 2020 and our team has rolled with the constantly changing regulations and supported each other. Due to the Refi boom and other unforeseen circumstances, our branch is understaffed. It is tough to find good candidates, so the team we have is stretched thin. Overall, I highly recommend FOA and it's the best job I've had to date!

A very young culture that needs much more development in order to keep up with growth.  Typical day for me was calling on new prospects while dealing with current clients and progressing their loans to close status.  The hardest part of the job is coming from a company with established culture and core value to one who is trying to figure the direction they want to go.  I wish I was in position to help establish that culture which I have years of experience.  Some of the management there needs to be changed because of their lack of experience for creating a culture.  The most enjoyable part of the job is seeing the clients benefit in the quality of life from my help and experience.  The biggest thing that I learned was how to handle a much slower sales process especially coming from companies that sometimes require quick sale closings.

FAR is fine with LOs who refuse to write anything but Jumbo loans. Processing software crashes or doesn't save your work. Can't get quotes out to borrs in any decent amount of time. They hired assistants for Processing that aren't from our industry, and they have no idea what the docs are, and they cant answer questions when their talking to our borrs. Processing losses docs constantly, sends letters to borrs asking for same docs over and over. Their database and Processing software will be this company's downfall due to so many duplicate leads and system crashing. Must have put 50 tickets into IT dept can't fix glitches that cause it to freeze, erase your work or kick you off the system completely. Their suggestion to us, was to go on the server at midnight or 1am because it's less busy and not so overloaded with employees using it. Alot of us top LOs are looking to leave soon. We're sticking it out hoping it gets better, but they just reduced commission structure again. 

Typical day at work: Log on, dread opening your email for fear of seeing another all-company meeting to announce more bad news
What I learned: To never take a job with an already iffy company just for the paycheck
Management: awful. terrible. no respect or consideration for their employees. Stunning lack of empathy
workplace culture: None - every body for themselves
hardest part of the job: watching great employees get let go without barely an explanation
enjoyable part of the job: leaving

Management is terrible. Left hand does not talk to the right. One minute they sing your praises the next they forgot what they were singing and saying how terrible you are and no one likes you and wants to work with you. Training is terrible; it’s scattered and all over the place. Finding help is next to impossible. You’re lied to about how well or not well you are or aren’t doing. You’re lied to about flexibility. Rarely interact with your coworkers except maybe once a week in a huddle. Management is rude. Sales is just as rude. And if you’re new you’ll get the worst sales rep attached to you as a test almost to see if you can hack it. If you can then they pass that sales rep onto other people to see if they can pass same test. Management will belittle you, mock you, put you down, and be the nastiest most rude people you could have ever met. Stay far away. The pay isn’t worth the mental anguish. 

What is the best part of working at the company?
Up until FAR acquired AAG it would have been a 4-5 but once they acquired AAG and attempted to "become AAG" the entire culture went downhill.  They provided no real help in the transition process with neither equipment nor education on their systems.  I was very successful at FAR, but  no so when AAG took over .

What is the most stressful part about working at the company?
Adapting to the AAG way of doing business

What is the work environment and culture like at the company?
Authoritarian and demanding. No the previous friendly culture with employees.

What is a typical day like for you at the company?
Clocking in and using only their phone system.  Not working after your 8 hour day    Not allowing the use of your cell phone.  NOt allowing you to work with borrowers on weekends, e.g. not allowing borrowers to call you on your cell on weekends  They want everything recorded.

A typical day includes the following: evaluating and addressing technical experienced by co-workers both on and off-site, expense reports, travel arrangements, supply management, event planning, fielding all questions regarding Human Resources, maintaining inter-office communication between all branches and Corporate. 

I have learned ways to manage my time and multi-task more efficiently. Management is supportive and values each employee's contribution. Every effort is made to accommodate individual needs. Similarly, my co-workers are a hard-working, diligent and vivacious. The office culture is cohesive and friendly.  

The most difficult aspect of my job is finding enough time in the day to get everything done. The most enjoyable part is resolving concerns and problems for both on and off-site co-workers.

Top Job Titles	Average Salary
Customer service representative 4 salaries reported	$11.00 per hour
Senior loan processor 10 salaries reported	$102,500 per year
Mortgage loan originator 3 salaries reported	$13.63 per hour
Branch manager 1 salary reported	$12.50 per hour
Loan officer 3 salaries reported	$51,667 per year

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