Obsidian Financial Services Reviews

3.1

48% would recommend to a friend

(36 total reviews)

Dianna Griffiths

56% approve of CEO

48% positive business outlook

Company ratings over time

Ratings trend for the last 6 months (36 reviews)

Obsidian Financial Services has an employee rating of 3.1 out of 5 stars, based on 36 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Obsidian Financial Services employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

Reviews by job title

36 reviews

3.0

4 June 2021

Good company, but could be better.

Mortgage loan officer

Recommend

CEO approval

Business outlook

Pros

100 % remote position for MLOs. Constant optional training on proper doc submission/client disclosures, lending products, and marketing/lead generation ideas.

Cons

Once onboarded, HR or Compliance office will never respond to your emails if you inquire about something. You are completely on your own - no direct mentoring, feedback, or growth outlook from management. Training managers make it a point to let you know that if you make mistakes on loan doc submissions, processors will essentially put your files on the back-burner and won't be as eager to push them through quickly... kind of discouraging, especially for newbies.

1.0

1 Dec 2021

Stay away from this company-Fraud Alert

Post closing specialist

Recommend

CEO approval

Business outlook

Pros

None this company is run by thugs in a suit

Cons

Please stay away from this company. The execs are corporate thugs and will not pay you appropriately. I have been trying to obtain my first check and my last paycheck for almost a month. Check still has not been received. Management is rude and states per Florida labor laws they can pay me whenever. I fully intend to have this issue resolved

2.0

17 Jan 2022

Very High Fees and Low Profit for Loan Officers

Loan officer

Recommend

CEO approval

Business outlook

Pros

Helpful training resources. Not much else positive to report.

Cons

Obsidian makes at least 2k on every loan even when the LO makes less. Processing fee is around $800 and underwriting fee is $1,400! Very high costs. Pricing loans also leaves loan officers with a very low profit. Not a competitive place to do business. No leads or marketing support.

Obsidian Financial Services Response

3y

We do charge $1495 UW and $895 processing and on correspondent loans this standard for the industry. We only charge $495 for processing on broker loans, and whatever the lender is you submit to, they charge the UW fee. This only applies to correspondent loans and we don't charge the loan officer, we charge the borrower. If you really have seen hundreds on closing disclosure then you would know we are competitive with our pricing. If the LO would like to make 2-25% then set your compensation up that way. We allow you to set your compensation to whatever you want on each deal. If you want your deal to be 3.00% Lender Comp, no problem set it there, that is ON YOU, not us. NO WE DONT SUPPLY LEADS, we keep our pricing so low that you can make the money and not us.

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