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The Lending Group

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100% Commission!! If you get hired your base pay is deducted from future commission!! - Loan Officer The Lending Group Employee Review

3.0
30 Jan 2018
Recommend
CEO approval
Business outlook

Pros

Good for candidates with little to no experience, so you are able to get into the industry. If you are a "winner" than you can make a % of each loan you close after you get your licenses which some mortgage loan companies do not do. They help work your sales script right from day one.

Cons

100% Comission!! You start working as a loan assistant and must help close two deals within first 60 days; you don't actually close the loan but must walk the sale to the finish line and then the loan gets passed onto a licensed advisor. If you do this and get hired than your base salary is deducted from future commissions. So the company is essentially paying you nothing. New loan advisors should not be expected to live off future commissions. Their idea of training for your license is a 20-21 hour video. Other companies have a much better base+commission compensation plan. Other companies also have paid training, which is usually a 2-4 week class, that is much better than this place. You pretty much work for free until you either become a good loan officer, or figure out that you're not the right fit. You receive calls on an automatic dialer with customers that could have signed up for a quote two days ago or sixth months ago so you need tough skin.

Explore other reviews about The Lending Group

5.0
31 Aug 2024
Recommend
CEO approval
Business outlook

Pros

Fair Pay, challenging but rewarding

Cons

Fast-paced environment, could be easily burnt out, short-handed.

5.0
17 June 2017
Recommend
CEO approval
Business outlook

Pros

Everyone is really cool there. They will help you when you get stuck and sit by you to make sure you are comfortable with the work. They help you get licensed if you don't have one and will train you from scratched. Face paced job with little to no time to be bored.

Cons

I really didn't like the outbound calls. You could be calling people who signed up for help yesterday or 6 months ago. People on the phone can be harsh so you need to have thick skin.

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