Easy to get hired, easy to get fired - Loan Originator Anchor Loans Employee Review

2.0
9 Dec 2015
Recommend
CEO approval
Business outlook

Pros

Growing company (aka becoming more corporate). Monthly birthday luncheons. Some of the fellow coworkers are genuinely nice people.

Cons

They set the bar very high from a production stand point from the beginning. They want you produce the same volume of business as the originators that have been with the company for 6+ years which is unrealistic for someone coming in starting from scratch. But they say they temper their expectations as you're starting out, as they are aware it takes 3-6 months to build a good pipeline of clients and deal flow. After 3 months of working there I originated a few loans but nothing closed (mostly due to circumstances that were beyond my control as an originator). During my 4th month I finally started gaining some traction and originated a good amount of loan volume. Before I could finish out the month and close my deals I was terminated. The short while I was there I never received negative feedback about my work ethic or how I conducted my business... In fact I heard mostly encouraging remarks like "keep up the good work". The only time I was told I need to step up my production was in the middle of November and was told they want me closing deals "by the end of the year". Alas, here I am 1 week into December and finally start realizing the fruits of my labor... and they fire me for lack of production. WHAT!?!?! You said coming in that you knew it was a 3-6 month process, and when I was given a deadline to start producing... I DID!!! Why not stand by your word and let me finish out the month and close my deals? Part of me thinks that management wanted me gone for a reason they didn't want to disclose to me, and saw that I was starting to produce, so they thought it best to cut ties, kick me to the curb, and take my commissions and book of clientele that I worked so hard for. Disheartening to say the least. I hope others don't suffer the same fate. My advise... STAY AWAY!!

Explore other reviews about Anchor Loans

5.0
20 Feb 2025
Recommend
CEO approval
Business outlook

Pros

Flexibility in schedule, the people

Cons

pay is decent but could be higher

1
4.0
23 Apr 2026
Recommend
CEO approval
Business outlook

Pros

Good company, good stability, culture was friendly

Cons

Tons of work, low paying compared to competitors

1
See reviews by: Helpful|Rating|Date|All