They set the bar very high from a production stand point from the beginning. They want you produce the same volume of business as the originators that have been with the company for 6+ years which is unrealistic for someone coming in starting from scratch. But they say they temper their expectations as you're starting out, as they are aware it takes 3-6 months to build a good pipeline of clients and deal flow.
After 3 months of working there I originated a few loans but nothing closed (mostly due to circumstances that were beyond my control as an originator). During my 4th month I finally started gaining some traction and originated a good amount of loan volume. Before I could finish out the month and close my deals I was terminated.
The short while I was there I never received negative feedback about my work ethic or how I conducted my business... In fact I heard mostly encouraging remarks like "keep up the good work". The only time I was told I need to step up my production was in the middle of November and was told they want me closing deals "by the end of the year". Alas, here I am 1 week into December and finally start realizing the fruits of my labor... and they fire me for lack of production. WHAT!?!?! You said coming in that you knew it was a 3-6 month process, and when I was given a deadline to start producing... I DID!!! Why not stand by your word and let me finish out the month and close my deals? Part of me thinks that management wanted me gone for a reason they didn't want to disclose to me, and saw that I was starting to produce, so they thought it best to cut ties, kick me to the curb, and take my commissions and book of clientele that I worked so hard for. Disheartening to say the least. I hope others don't suffer the same fate. My advise... STAY AWAY!!
