Awful. Abusive company. Totalitarian CEO. A cult. - Loan Processor Loan Factory Employee Review

1.0
5 Dec 2021
Recommend
CEO approval
Business outlook

Pros

-Absolutely none. Nothing. please avoid for your own dignity.

Cons

This is my horrible experience working here in 2020. Not sure where to even begin. Pretty sure The recent good reviews were directed by the CEO to prop up the rating. The CEO is worshipped like an emperor. He always chases the “5 star google” review at the expense of his employees. Low level employees are treated like trash. Lower than starvation wage and no chance for advancement; yet they get yelled at if something beyond their control fails the loan (borrower messes up or whatever). Working overtime to help a customer??? Pfff don’t even think about 1.5x pay; your manager won’t acknowledge your efforts, they wouldn’t look at your face. You work your butt off to gain a satisfied customer?; too bad, the CEO and his LOs get all the money and credit. I honestly don’t even know what his LOs even do; when I was working here, the unlicensed “loan originator assistants” do everything from advising, locking rate (using the CEO’s credential; pretty sure this is illegal), to processing and closing. Please run. Don’t take this under appreciated job even if this is you are fresh out of college. You will be drained out of your energy and dignity and quit soon anyway. I don’t know anyone who works at this company last more than a few months. Everyone tells me they hate the CEO, the manager and they can’t wait to quit.

Explore other reviews about Loan Factory

5.0
5 June 2026
Recommend
CEO approval
Business outlook

Pros

Great, very tech savvy company

Cons

No cons, what so ever

4.0
18 Apr 2026
Recommend
CEO approval
Business outlook

Pros

I worked at Loan Factory as a Loan Originator. One of the strongest aspects of the company is its commitment to training and educating employees, especially those new to the mortgage industry. They provide a solid foundation in mortgage knowledge, which makes it a good place for beginners. The benefits are also competitive, particularly at the beginning of employment.

Cons

On the downside, the management style can feel overly micromanaging at times, which may limit independence and flexibility in the role. Improving trust and allowing employees more autonomy could enhance the overall work environment.

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