Network Capital Employee Reviews about "loan"

Updated Jan 24, 2021

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Found 61 of over 956 reviews

4.2
80%
Recommend to a Friend
85%
Approve of CEO
Network Capital CEO Tri Nguyen
Tri Nguyen
728 Ratings
Pros
  • "life balance with the Network Capital team(in 167 reviews)

  • "Positive environment where every mortgage banker is given an equal opportunity(in 48 reviews)

  • Cons
  • "Nothing to even complain about Network Capital(in 56 reviews)

  • "Saw some bankers on some top originator reports with loan volumes that are 100% inaccurate(in 47 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Reviews about "loan"

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    1. 5.0
      Current Employee

      Collaborative atmosphere with respect for opinions, equality, diversity and justice.

      Jan 24, 2021 - Loan Processor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good management and a positive, welcoming company. People are definitely a company’s greatest asset. Robust processes and procedures: induction, training, appraisals and reward systems. Mortgage Bankers are very helpful. Friendly leadership, respect and dignity between team members. Employee engagement and performance supported by the management. They provide you with as many files as you can handle. Fast UW and funding turn-times. What's more, it's important for me, that company supports work-life balance: flex time to work, intensive or extended work week, part-time work (in case of need), summer schedule. Open, supportive environment with a focus on learning and professional growth. Lots of loan programs are available.

      Cons

      None. They limit how many hours overtime because this can be harmful.

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    2. 5.0
      Current Employee

      Stable Company Offering Growth opportunities!

      Dec 1, 2020 - Mortgage Banker in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      If you stick to the program, you will be successful. They have top 1% mortgage bankers in the country that graduated from the program. Software is easy to use. Unlimited and excellent leads – most companies hardly give you any. Great pay. Excellent sales training, processing and underwriting. My manager coaches me to perform my best. Lots of loan programs to offer clients. They teach you how to help clients.

      Cons

      If you are lazy, don’t come here!

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    4. 5.0
      Current Employee

      Competitive, success-driven culture

      Sep 30, 2020 - Finance and Accounting 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      There is no shortage of opportunities here. The company is home to the best salespeople and mortgage bankers making it an excellent place to learn. Competitive yet fun. Management constantly inspires you to do your best. The loan officers here have been nothing but supportive and taught me how to help my clients better.

      Cons

      Opportunities will always be there but only available for those who are willing to work hard for it.

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    5. 1.0
      Former Employee, less than 1 year

      Zero stars, worst company I’ve ever worked for

      Dec 8, 2018 - Loan Processor in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      What pros? There are none

      Cons

      Everything! Really high turn over. I trained for two weeks with 9 other people, there was a class of 10 before us and a class of 10 after us. By the time we were done training, the class before us only had about 5 people left. By the time the class after us was done training, the class before us had about 2 people left and my class has about 6 people left. People were quitting or getting fired left and right. That’s why they have these 2 week training classes of 10 people every 2 weeks. They lose people as fast as they hire them. They have shady business practices and push through loans that should not get pushed through. They do not care about quality they care about quantity. They only hire people with no experience so they can train them their shady ways and you’ll know no better. TheY micro-manage like I’ve never seen before. There is an employee whose sole job is to listen to everyone’s calls, and if you miss one line of your script, you’re getting reprimanded! They offer no benefits or PTO, no 401K, nothing. This company is a joke, a scam. Don’t do it!!

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      4 people found this review helpful
    6. 2.0
      Former Employee, more than 1 year

      Started good but going downhill

      Mar 3, 2018 - Mortgage Banker in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Nice office. Used to have good management. Good starting ground to break in to the industry. Used to be a very motivating environment until they lost their true leader and best asset.

      Cons

      Not an ounce of care for their employees unless you've been there since the beginning. It's almost a fake company and not sure how they manipulate numbers. Saw some bankers on some top originator reports with loan volumes that are 100% inaccurate. They were very good at one point but owners just don't know how to adjust to the market. Will be surprised if they last another few months. Sad because there were some really good people here and they had a good opportunity to be successful but the owners continue to blow it.

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      22 people found this review helpful
    7. 1.0
      Current Employee, more than 1 year

      Nail is on the coffin

      Apr 7, 2018 - Mortgage Banker in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Coworkers, nice office, good view

      Cons

      Management, lack of training, working holidays. Company is downsizing and firing people like crazy. Place used to be full and now has only a handful of people left working there. Everybody from processors, underwriters, support personnel are being fired! They even fired the receptionist!! You have to ring a bell now at the entrance so that someone can come and help you. New bankers are not even given any training on the floor. Some of the newbies after three months (if they are still there) still don't know how to read a credit report, do a pre-qual or structure a loan. Management says that they pay for your training and licensing, but what they don't mention is that if you quit or get fired within six months of the yearly training and licensing you gotta pay back that promissory note. Seen it too often that bankers are fired within that period and they state lack of production as the cause. Hard for them to produce when they are just suppose to take apps and the "juicy" loans are given to senior bankers (cause they are paid on bps and not per loan) to fund. By the way you have to start in the call centre before you can move to the banking side and are told to write a positive review about the company before you get to go into the training classes. Management's reason is that so they can find a replacement for you in the call centre. You are given websites to go to write the review and links in your inbox and are "encouraged" to write them at work. Used to get free tea and coffee but now you gotta buy it from a machine. Not so bad but having to bring your own milk and cream for the coffee and tea is kinda pushing it. Office is deserted with one side completely empty due to all the people being fired ( you could play team football in that empty space). Last thing, when they fire you they will try to screw you on your funding saying that you don't get any commission due to the loan not being funded. One guy had four loans that funded last month, was fired and was told that he was not owed any money. Good thing he knew they funded and told management who tried to say otherwise. Still hasn't been paid yet.

      16 people found this review helpful
    8. 1.0
      Former Employee, less than 1 year

      Horrible. Terrible. RUN RUN RUN

      Jan 10, 2018 - Mortgage Loan Officer in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The call center is not too bad. You make min wage, but get $1 every transfer you make. The manager really works on building you up. Unfortunately he's setting you up for failure.

      Cons

      EVERYTHING ELSE. - Managers will yell in your face if you do not close out a loan fast enough - People will take loans you are working on out of your pipeline - Training is almost nonexistent. - They will work you like a dog with very little compensation - MLO's make $12/hr which is way under what other companies will pay - They treat you like you are expendable - Management will ask you to write a positive review here and on yelp to help mask all the negative reviews. They will tell you that negative reviews were written by employees that weren't putting in loans and were angry they weren't making the money. EVERY NEGATIVE REVIEW IS TRUE!!! Employees quit in mass. I quit because I did not feel that I needed to be in a toxic environment when a manager yells in your face and belittles you for asking a simple question. I haven't looked back. If they call you for an interview, RUN.

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      23 people found this review helpful
    9. 1.0
      Former Employee, less than 1 year

      Run! You deserve better than this...dont waste your talent and valuable time here Not worth it.

      Jan 3, 2018 - Closing Processor II in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Soda machine. Music playing. If you like house music, you'll enjoy it. Helps with maintaining the energy it takes to do this job.

      Cons

      Quite a list. 1. Their coffee machine has broken for almost two months. There is no coffee. None. 2. They know your disposable, and therefore don't expect much of an investment in you. Keep that point in mind as you're reading this. 3. If you call in sick for a legit and verifiable reason, be prepared to come back to work with a couple of loans missing from your pipeline. They don't cover for you, they take from you instead. Usually files that are very close to docs. 4. No PTO until you're 6 months on the job. Same goes for the 401k. 5. No direct deposits. And they provide your check at the end of the day. So much for cashing it at lunch. 6. 90 days to get medical benefits. 7. Be prepared to get antagonistic emails everyday. Every. Single. Day. The main offenders are two men. One that starts with an H, and the other manager with an R. (Processing dept). 8. Too many 'feel good ' conditions placed by underwriters. And they are not very approachable. 9. ZERO procedural training. You're thrown right in. Sink or swim. You better be very fast about it. 10. Been asked several times, with an offer of money to post good reviews on Here and on yelp. 11. Too many managers. Most of them lack true leadership qualities. Perpetuate the toxic culture in that company. 12. If your lock expires (mind you, most loans arrive at your desk with 20 or less days) even if the delay is a 100% not your fault and can prove it. Does not matter. You lose half your bonus on that file. 13. Small pipelines. Less than 10 active and viable loans. They lied about this on the interview. 14. You're not valued or supported here. If you're looking to be treated with respect and valued, don't work here. Doesn't exist. 15. You won't work with seasoned mortgage bankers. They tend to hire the green ones. You're not permitted to have any contact with them. So if your loan file goes South on you (for an example, non responsive borrowers) don't expect much help. At all. Actually, a write up if you do. 16. They don't remove withdrawn or cancelled loans from your pipeline. You cannot remove them yourself. They. Just. Sit. There. 17. 4 out of every 10 files will die. Mainly because they were badly sold by the mortgage bankers. 18. They don't buy you lunch here. Ever. 19. Only one person talked to me for the first 3 weeks. Then it was 6 more after a month. Not much commodery. 20. If you have a signing occurring over the weekend, you might have to work Saturday. So you gotta cancel your plans, or get retaliation. When I first started here, I assumed that the high overturn was due to people getting fired. I was wrong. People quit. A lot here. Including me. My main reason is that the morale and environment is toxic. Significantly toxic. You'll understand this the first week your there and it only gets worse. Being there was affecting me, I'd come home agitated and upset. Daily. If you are a very seasoned processor (5+ yrs of exp), the procedures and the manner to how they expect you to process their loans will frustrate you. But if you're green, you'll be shocked and at a serious disadvantage should you work for another lender, who is a bit more traditional in the processing of the loans. Like with most other lenders. I'm glad I made the decision to quit. I deserve better than this. I did it because I wanted to be treated with respect. It was never going to be like that here, and I chose to liberate myself from this place. No regrets or second thoughts.

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      31 people found this review helpful
    10. 5.0
      Current Employee, less than 1 year

      Happy to come to work every day!

      Sep 12, 2017 - Receptionist in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The people are what makes this company so great. Everybody is always hustling and grinding, and it amazes me that so many of them sacrifice their weekends and personal lives to get the job done and to help the borrowers through their loan process. Everyone is always so nice and friendly here, I haven't had ANY problems, whatsoever. Free drinks, beautiful office view, city of Irvine, wonderful leaders/mentors, opportunities to move around, amazing commission for people in sales... Like I said in the title, I'm actually happy coming into work every morning. When you work constantly around a bunch of people working incredibly hard, it's motivating (for me at least) to work as hard as I can, and always put in 110%. Also, as a student, they really work with my school needs and ensure I'm accommodated in that regard as well.

      Cons

      Morning traffic into Irvine can be a real hassle, but I now have a FasTrak account, so that problem has been resolved. Sometimes, in my current position, I wish I had more work to do. There's a lot of down time. I'm constantly asking the managers if they need help with projects to pass the time. Wish I could work weekends! I just want to work more :P

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    11. 1.0
      Former Employee, less than 1 year

      Horrible place to work

      Aug 30, 2017 - Closing Processor in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      If you want to get your foot in the door and know nothing about the industry then go for it. Otherwise stay clear of this place.

      Cons

      I worked as a loan processor and let me tell you this is not a processing position. More of a Jr position. They have there processor initiate the file and you are just gathering all the conditions. The pay is horrible but good if you are in jr high school.

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      7 people found this review helpful
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