loan officer

call center representative

curator

mortgage specialist

customer service representative

PHH Mortgage

A typical day consist of me handle challenging situations with internal and external clients without compromising decisions and/or analysis.
Review income, assets and tax return documents for validity to complete income analysis of loans.
Communicate Investor or PHH required policy and process changes to the team as well as teams in Underwriting, Processing and Sales when applicable.
Provide subject matter expertise to Sales Consultants, Loan Processors and Underwriters in the area of income analysis, including forms preparation and overall understanding of underwriting guidelines as they relate to individuals, partnerships, S-Corporations, and C-corporations

What I have learned is it can be challenging when your review or response is directly attached to someone’s incentive, so I have learned to be extremely detailed and back up any findings with facts from guidelines and policies.

Management here in my department is awesome. They are fair, open and really let you know they are serious about us having a work life balance. They work hard to make the department have a since of family and that you’re not just a number.

Co workers are nice. We all work rather hard and are often extremely busy so there isn’t much time, however special occasions such as bridal showers birthday and babies they take very seriously and decorations and cakes and food days happen often.

The hardest part about the job is being in a position that you have to relate or give analytical constructive feedback when a job is not done accurately delivering the news isn’t the issue dealing with the backlash is. It often turns into a back and forth situation which has proven to be time consuming when you have other loans to review. It’s always understandable because their paycheck is involved however it is also about teaching and coaching opportunities, and they don’t always see it that way.

The most enjoyable part of the job is the work, researching, analyzing and digging for errors. Every file is different so it’s like a new challenge with every loan I look at and that keeps it interesting and enjoyable. I like my hours and the fact that I have the ability to work from home on occasion.

This is the worst company I've ever worked for.  They have an 'F' rating with the BBB.  They bought and own the loans they service, know they don't have to treat the customers well and don't.  Callers wait 1/2 an hour online before reaching anyone.  And then, they proably don't know what they're talking about.  Training was minimal at best.  If you have to ask a supervisor for info, they give you attitude.  They place unreasonable expectations on their employees, telling them they have to meet a 95% average score on their call quality monitoring, as well as acheiving a certain number of calls per hour and credits per hour (transaction postings from customers, which are out of rep's control) in order to acheive a monthly bonus; but, nit-pick you for not following their Indian-dictated scripts in order not to have to pay you any bonus for the month.  They lied to me, said I'd be helping distressed homeowners stay in their homes.  Turns out, I can't work out any payment plans for them, because the previous employees supposedly misused that privelege, they say signing up homeowners on payment plans when they really didn't need them in order to get a bonus, so they took that opportunity away from them, giving it only to their 'Relationship Managers,' who, by the way, don't take incoming calls, will only call out on pre-set appointments; and, many times don't even make the calls but memo that they did.  All day long I take calls from frustrated homeowners who can't even get confirmation that their faxes are received.  Payoff quotes are deliberately not sent or delayed so OCWEN can make more days' interest on the loans.  If a customer asks for a supervisor, God help you.  They probably aren't available, to which you're supposed to reply, "I'll email them, and they'll return your call in 24-48 hr.s," but they don't, and when the customers call back saying, "I was supposed to receive a call back but didn't," so this time they insist on holding; so, more attitude from your supervisor.  It's a never ending vicious cycle.  The only thing I look forward to at this job is the time off.

Training started out great then quickly went downhill. Support once you hit the floor was inadequate.  Additionally, while promised manageable pipelines to start with maximum of no more than 30 for the first month, by the 3rd week I had more than 150 loans in my pipeline.  To compound the problem most of the loans were old loans other processors had been unable to close  
Perhaps the most telling sign of their shortcomings was the number of employees that would clean out their desks and simply leave the company without notifying the company. They would just leave and never tell a manager.  Additionally, those processors who were achievers could get by with murder, not showing up on "good surf" days, cursing at customers, agents, etc, openly treating new processors with disdain.and then getting promoted.
Upper Management would constantly change goals to be accomplished an appeared not to be aware of new federal guidelines and rules. Good processing is time consuming, adding an expectation that you contact all stakeholders in your pipeline (typically four or five people) weekly with pipelines averaging 150 loans (and often larger) was at the very least impractical.  Worse yet there would be days all upper management would be out of the office preventing loans to be closed.
Loan processing is stressful and the company did little to help when I was there.  Additionally, my immediate manager was abusive and HR would not even meet with anyone to allow them to file grievances or complaints.  They kept there doors locked with security guards open.
They started a new format for training new processors when I was there that appeared hopeful.  However, the constant policy and practice changes by management leaves me little hope that it was allowed to be maintained. Unless you get off on masochism and misleading clientele avoid PHH.

Along with my daily tasks, I work on random projects as needed by my Manager and Supervisor. My supervisor and Manager also recognize my computer graphic abilities and allow me to incorporate them in my work.

One project in particular was creating the TA Dashboard for my team. Originally created by another employee, I was asked by my Supervisor to make it my own and create one for our team. It was a large spread sheet in excel that held all the information a Team Associate would need to perform their job. Loaded with information and eliminating printouts and training manuals. With a click of a link, Team Associate had at their finger tips, online sites, references, How too’s as well as tools they needed to perform their job. Eliminating the need to search through folders to find documents and guidelines. When Team players from other teams needed assistance, I introduced the Dashboard to them. As it made its way around the building Team. Associates, I changed the name to be TA Dashboard.  I have created a new dashboard for the Servicing Dept. Currently I am the only one using this as I felt it made my job easier. I have shown it to my Supervisor and Manager along with a map showing what states each processor is licensed in. Whether they would like to use it as well has not been determined, but if so, I would be happy to help put one together. 

Whether I'm working my daily tasks or on a project for my Manager, the quality of work I put into a task reflects on me as a person. am a perfectionist when it comes to certain projects. It may take me a bit longer to complete some, but I know when it is turned over to my manager, it will be my best. 

I am always ready to jump in an help out where needed. I feel by doing so, the people around me in my past and current position know me to be a team player and help out when needed to get the job done. I take pride in my work and always try to improve the work I am doing, whether it be for myself or a manager. As I said before, I am a perfectionist. I work very well under pressure and I deliver completed projects.

Typical day at work is getting prepared to take 1-200 calls everyday and being constantly yelled at by customers.

I learned how to take payments and read a script made me feel like a true actor.

Don't really understand management for they're not properly trained and always send you over to the "escalation specialists."

Loved my co-workers. you'll really want to get along with your co-workers cause within a week or two you'll be in tears right when you boot up your computer and need a shoulder to cry on.

Hardest part of the job... hmmm let's see systems are terrible, shift bids, you can have Mondays and Saturdays off, you can start at 11 AM and shift won't end til 8 PM. Of course til the queue clears, so may get out at 9 or 10 PM depending if that one customer doesn't constantly call back to scream and yell at you and whoever else is there. Then there's a minimum (150-200) amount of credits you have to achieve monthly these are called "promise to pays." With that you're making random calls out on an auto dialer and basically bugging people when and how are they going to make their payment.  If you don't meet your minimum amount of credits get prepared to have a long talk with your supervisor. These credits give you a pretty decent bonus every month but gives your supervisor a bigger bonus. Which isn't really fair that you will be doing all the hard work and get 500 dollars at the end of the month and your supervisor sits there eating a whole box of pizza to his/herself, surfing the web, texting etc and gets around 2000.  

(there's a whole list, shoot I can probably make a book)

Most enjoyable part of the job is not being there.

P.S. There's a huge for sale sign by the building in Iowa and they just got rid of 300 employees in Iowa. Really do your research before going here at all, half of these reviews I wouldn't be surprised are fake. I still talk to some people who work there and are saying it's a disaster and soon to be closing.

On the outside, the company seems secure and upwardly moving with opportunities to grow professionally.  I was part of the massive hiring wave of 2012 and 2013.  Well over 300 new employees were hired in a short amount of time and received intensive training.  It was a continuously changing environment where information was not often shared and employees had to rely on the rumor mill about company changes which contributed to unsure job security.  Testing and training were ongoing and advancement was offered as the company changed directions.  In the mortgage industry, flux is expected.  This company like many others does not see its employees as an asset but as numbers on a ledger, and a way to manage their budget.  In 2013 the majority of the new hires of the previous year were laid off in several waves including a large number of long time employees in excess of 10+ years tenure. When the refinance market slowed down, the anticipated need for employees was not realized and the lay offs began.  Even with new ownership, the company does not seem to have changed its outlook as far as employees are concerned.  As recently as a few months ago, the company was hiring however the main building on Gate Parkway is up for sub-lease.  The lease is up in 2016 and they are planning on downsizing again. This information is readily available but Im sure the company is not forthcoming with that information either. When considering this company for employment, I would not recommend assuming a long term opportunity.

At PHH, we worked in a team environment. Our team of underwriters was aligned with two teams of processors, sitting side by side, working closely together on mutually assigned loans. We had a team leader who met regularly with the processor team leaders to discuss ways to work together to improve the processes in place. There were representatives from the underwriters and processors who also met and discussed what would make the process flow easier for each group. For instance, the processors would like it of the underwriters would make more detailed entries in the conversation logs on the files to make it easier for them to get what was needed without having to take the time and interrupt the work flow to ask questions. The underwriters would appreciate the processors making sure that all pages of the asset statements were in the file prior to the loan coming for underwriter review. Both would save time and efficiency in cutting time and the number to touches the loan would have, the fewer touches, the better. 

I started the morning being assigned new underwrites. I then  worked off my pipeline on resubmissions which had new documents in for review. I prioritized my reviews to be more efficient, ensuring that rushes and loans which had rate locks and contingency dates due to expire  were prioritized.

I enjoyed working in a team environment and working closely with the processors. Being able to discuss what was needed and why, proved to be beneficial to the customers and the company by producing good, solid, error free loans in a timely manner.

Arrive at the office a little before 8:00, log into all my systems to determine if our reports have arrived.  Once our reports are forwarded to me, I prepare a spreadsheet and divide out the work evenly for my team to began their audit for final booking and closing the loan. We review each loan to  ensure all forbearance payments were made as agreed, the post and pre mod figures are correct, i.e., loan balance, interest rate, term, taxes and insurance, escrow balance, monthly payment, payment due date. Responsible for our internal systems match that of FNMA's systems. If we determine errors were made we work with the appropriate department head to ensure the corrections are properly adjusted, prior to booking and closing the loans.  These loans are being pooled and sold on the open market.  It is imperative our audits and calculations are accurate.  It takes a high level of concentration and focus to attain zero errors. My team is great, we work together and get the job done.  
For me, the hardest part is the few times we are slow.  I like to stay very busy.

I have had an accounting refresher working these modifications closings.  I have't worked in accounting since college.   

I most enjoy working the special projects Senior Management assigns to me. I receive a variety of items from several different departments, this enables me to interact with different people and allows me to capture exposure to mid to high level management.

I have been employed in the banking profession for approximately nineteen years. I started as a bank teller, customer service representative where I opened and closed accounts, processed loans then I transitioned into Mortgage Loan Servicing where I expanded my knowledge about, Modifications, paying property taxes and insurance, customer care, contracts, legal items, research and archiving, refunds and deposits of company checks, workable spreadsheets, Investor loan handling such as: Bank of America and Goldman Sachs, batching and posting amounts, enormous mail handling, cashier checks processing, invoicing, handling of escalated tax issues, flood and hazard insurance, tax sale and redemption issues, letters to homeowners and or agencies, adhering to the retention policies, giving feedback to Management, organizing outlook, ups mailing, typing, software experience, minimal errors, processing queries and excel formulas, reading and understanding how the pos pay system works, contacting Attorney's offices for redemption amounts, scanning, faxing, storing, data entry, and spearheading projects for Management, escrow analysis.

FACTS & FIGURES:
During the past year I have processed approximately 2099 wires in the high dollars amounts, processed over 316 monthly checks, fifty nine refunds and billed for approximately 517,000 loans for five different investors!

To start, I worked for PHH in the Operational Excellence Department, so my review is biased to that position. Compensation was decent (I would say industry average, but comparable to my previous position). Benefits were average if not a little below average.

The work/life balance was pretty decent due to a supposed 35 hour work week. What this translated to was generally 40 hours per week on average although almost everyone would take 1 hour for lunch which was nice. I used to use the gym a few days a week during my lunch hour.

Ultimately, I had a terrible situation with my immediate management. My manager liked to micro-manage and focus on trivial details instead of the project as a whole. He was extremely difficult to understand and expectations changed on a daily basis. By the end of my employment with PHH, he was down-right nasty talking behind my back with other management and co-workers as well as yelling and bringing me down to my face. His "motivational" style was negative reinforcement that often made not only myself, but the entire team feel like he always knew best and our input was not valued. The situation become so difficult that I was literally spending more time fighting for my job than actually getting work done. I consider myself an extremely energetic and positive person - but honestly I have never been so disrespected in my life and am glad to no longer be working there.

If working at PHH avoid management in the operational excellence group.

Top Job Titles	Average Salary
Loan officer 1 salary reported	$33,280 per year
Call center representative 13 salaries reported	$19.31 per hour
Curator 2 salaries reported	$42,750 per year
Mortgage specialist 3 salaries reported	$19.50 per hour
Customer service representative 1 salary reported	$19.00 per hour

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