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      Loanwise reviews

      LOTS OF FIRING AND LAYOFFS - Processor Loanwise Employee Review

      1.0
      21 Feb 2017
      Processor
      Recommend
      CEO approval
      Business outlook

      Pros

      THERE IS NOTHING POSITIVE I CAN SAY ABOUT THIS COMPANY, OTHER THAN I WAS SUPER EXCITED ABOUT WORKING THERE

      Cons

      They let me go along with several other not counting the people that gave their notice, but they were let go the same day on 08/2016 few months letter 4 others were "laid off" and 02/21/2017 6 people were Laid off. if you count on a check to pay your bills and have job stability this is not the company to work for. they have over 10 managers and now a hand full of processors/managers. adding to this 4 loan officers were also let go.

      avatar
      Loanwise Response
      9y
      At Loanwise we value all of our people and take staffing decisions very seriously. Conditions within the mortgage industry will sometimes require that we shift our position and evaluate or adjust the number of individuals we have in each role at any given time. As a result of our shift, we’ve already experienced 44% growth in just the first two months of 2017 and expect that to continue for months to come. We hope for nothing but the best for the talented individuals who are no longer with us and look forward to staying connected and celebrating their future success.

      Explore other reviews about Loanwise

      5.0
      19 Jun 2018
      Senior government underwriter
      Recommend
      CEO approval
      Business outlook

      Pros

      Excellent team environment with strong employees always willing to get the job done. With all the management hands on experience as needed.

      Cons

      Layoff with no warning with sale of the production Unit

      1.0
      2 Mar 2017
      Anonymous employee
      Recommend
      CEO approval
      Business outlook

      Pros

      The employees and middle managers are wonderful. The pay was decent and they finally added vision to the insurance plan.

      Cons

      This company likes to sell you dream and it ends up becoming a nightmare. There is no training and everyone runs around like a chicken with their head cut off. The upper managers are always switching positions and nothing is structured. This company likes to say you are "Family" and "owners" but will fire you or lay you off like you are trash. Please tell me what "family" does that? The company will feed you all kind of promises to get you there but will never deliver and if you ask them about it then they will let you go. People left stable jobs to come here because they believed the company could be great but were let go without notice and had to scramble to find work and take care of their families. What a way to treat your family Loanwise! This is not a long term employer. Everyone who started at this company is no longer there. I feel like this company is to be built up and sold off to the highest bidder just like the last companies the owners had. If you are looking for a great company with stability then this is not the company for you.

      5
      avatar
      Loanwise Response
      9y
      Thank you for acknowledging our wonderful employees and managers. We think they are one of the best perks of working at Loanwise! As a newer organization, we are challenged to find the balance between structure and agility and it can sometimes be difficult to see the logic behind certain decision, especially those that effect the continued employment of our people. As we grow and change, we make every effort to transition existing members into new roles or support their efforts to find new opportunities with other companies.
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