Sovereign Lending Group

1.0

11 May 2020

Loan officer

Recommend

CEO approval

Business outlook

Pros

Decent turn time on loans

Cons

Nepotism, shady business practices, managers are not trained nor hired based on managing skills but based on previous employment buddies from the VPs previous lender, the processing manager has the worst rep in the industry of sandbagging loans, and the managers are all afraid of her, managers gossip about their employees like high school girls, half the call center is hired off the street, toxic workers environment, even if you take one day off in the whole year they will give your loans away to someone else. If you submit loans, certain LOs have access to your pipeline and can steal them from under you and their manager will approve it. They will force you to pull credit on anyone even if they don’t qualify because the company makes money off credit pulls by selling borrowers info as well as managers making bonuses on your credit pull numbers. They always tell you your commission bps are the best in industry which is always a lie, and they give you false info on other companies or tell you you will owe them 17k if you leave here within two years to go anywhere else and threaten everyone who quits with lawsuits that are illegal since California is an “at will “ state of employment and they have no grounds. A kid committed suicide last month because of this place. They lead feed the same 5 people only and only entice you on working here off of one person Ghayans numbers and paycheck and no one else will EVER get the same privileges as him to get there. Just a tactic they use. This place says they are like one big family and most people here hate each other because managers force them to steal loans from each other. My advice go somewhere where they have enough leads so you aren’t having to babysit your loans every second in fear of other loan officers stealing out of your submitted pipeline. And other places pay more! And if you look on NMLS they lie and state half their employees are mortgage bankers of their own branch instead of loan officers for the company without them knowing so it limits the company’s liability of them.

Sovereign Lending Group Response

Sovereign Lending Group is an independent mortgage bank, licensed to lend in 45 states across the nation. We are extremely proud of our engaging and employee-centric culture, which is promoted often on our social media channels; Facebook, Instagram and LinkedIn. - Our executive leadership team has a diverse set of backgrounds/strengths, as well as decades of experience leading some of the most recognized companies in the industry - SLG’s growth has enabled us to provide significant opportunity for motivated individuals to advance their career - We have a healthy mix of both experienced and newer managers - 85% of our sales force is organically “home grown” by way of our ‘Tech1’, six-week training program. This unique program facilitates a process where an individual with no prior industry can become a competent and productive loan officer upon graduation from the program - We take pride in the fact that we are able to provide significant employment opportunities within our geographic footprint - Many of our Tech1 graduates are recent college graduates (including those with MBAs), with no prior mortgage experience that are looking for a new and rewarding career - Sovereign Lending’s sales division operates on a performance based methodology, where key performance indicators (KPIs) and conversions are measured for success - SLG also allows our sales agents to source business through our dynamic lead management software, to maximize efficiencies and help hard working Americans find mortgage solutions to fit their needs Lead distribution strategy rewards top performers with the highest converting leads - Average turn time from loan origination to closing is approximately 25 days (industry leading) - All calls (both inbound and outbound) are recorded to ensure compliance, as well as a high level of customer service - Motivated individuals with a high degree of integrity, strong work ethic, good communication skills and a positive mindsets are extremely successful at Sovereign Lending Group - We are committed to continue our dedication to our customers, our employees, and our community

Dumpster fire mortgage lending - Loan Officer Sovereign Lending Group Employee Review

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