Summit Funding Reviews

3.5

52% would recommend to a friend

(257 total reviews)
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Todd Scrima

69% approve of CEO

40% positive business outlook

Summit Funding has an employee rating of 3.5 out of 5 stars, based on 257 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Summit Funding 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

257 reviews
1.0
12 May 2019

Director

Recommend
CEO approval
Business outlook

Pros

None - the CEO only cares about his pocket. Lays people off doesn’t take care of them. I have never worked for such a scum bag.

Cons

It’s a cult but my advice is to run the other way. They sensor these reviews to make the ratings higher. They survey their employees. It you give them a positive review then they push it to Glassdoor. Their rating was 2 stars until they started the fake reviews

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Summit Funding Response
6y
Thank you for taking the time to post your review. It's is very unfortunate that your experience working with our company was not favorable. Please know your feedback is shared with the Executive Management team in an effort to make improvements as needed. You are also welcome to contact our HR department at HR@summitfunding.net to discuss your concerns in detail.
1.0
6 Jan 2020
Recommend
CEO approval
Business outlook

Pros

There's a Stockholm Syndrome-like camaraderie among the people that work here. It's almost like a team, but not really. There are some good people that work there still, but the company is actively working on pushing them out. Sometimes there are snacks. The coffee is free, but check the expiration date on anything else. You'll get a free lunch here once a month or so, which will make you wonder why they can brag about closing 500 million dollars in loans in their best quarter ever, only to deny you and all of your team any additional salary, training, or even the slightest perk. Pretty good work-life balance, but only because they have been sued so many times for the previous times they overworked people and didn't pay overtime.

Cons

It's a wonder this company stays in business. The President is a really good salesman that thinks he's a good president... He's not. At all. Do a search on recent lawsuits the company lost, or ask them about the office they rented next door at overwhelming expense only to renovate and abandon. Summit can't decided if it's growing or shrinking, and you'll never know either. It's all based on the bumbling President and his management training classes and nonsense. The loan officers run everything here. There's no business needs pushing the organization, it's the other way around. LO's do whatever they want. Do a search for the President on YouTube or elsewhere, and watch him bumble and try to be a "Mentor". It's hilarious. This is a sales culture. There isn't a wall in the building that doesn't have some sales mantra on there or other nonsense about what we can do to make the company better... Like I could make 25 phone calls a day to customers that want a mortgage! Well, no, I really can't because that's not my job. No one at the main office does that. But it's really important that you understand that if you aren't selling things that benefit the company, they 100% do not care about you. (Until they were all torn down and thrown away, even the restrooms had these sales nonsense mission statements and graphs all over them. In the stalls. You cannot escape it.) They will pay you the minimum you will accept. Promises will stack up from there, and if you are a truly stellar employee, you may get a 3% raise if they really pull strings. The end result is that anyone with even the slightest amount of ambition is gone. Those that stay are mostly incompetent just doing the bare minimum to get a paycheck and leave. If you're good at what you do and enjoy accomplishment, you will suffer for it here. Everything is done as cheaply as possible. After talking to some of the upper management, I learned this is all pretty much by design. I can't stress this enough: Every penny will be pinched here. If you need something to do while you find a better job, this will do. And you'll fit in well, since anyone smart that is still here is just searching for a way out. Meanwhile, the President and management will search out other companies that are "comparable" to Summit that operate on less people and use that as an excuse to hire less people when things are falling apart.

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Summit Funding Response
5y
First, thank for you taking the time to leave a very detailed review about your experience here at Summit. I’m sorry to hear that you are not having a great working experience as a member of our IT Team. As you mentioned in your review, Summit Funding is indeed a sales organization; and that is reflected in everything from our responsiveness to our client requests to our regular focus on coaching and driving performance. Yes, this focus even manifests itself in some of the posters here at the corporate office. The dynamic and constantly changing mortgage environment can be a different experience for those new to the industry, and it is not for everyone. Building and maintaining a great culture is a constant point of emphasis for us, and your feedback will be used to ensure we continue to focus our improvement efforts in the right areas. We have added to the executive team a Chief Information Officer (CIO) who is skilled at creating effective teams with positive culture; I hope you are feeling the positive impact of this addition. Regarding your view that IT is not valued here at Summit; while some time has passed since you wrote this review, I hope today you see and feel the appreciation we have for our IT professionals through our investments in staffing, wages, and resources over the past few months. While we are not a perfect organization, I can say with certainty that Summit Funding is an organization that cares deeply for our Team Members. Along with competitive wages and benefits, one of the ways we invest in our Team Members is through training. We offer coaching to our employees on topics like personal finance, as it offers an opportunity to those interested in improving their personal financial situation to learn alongside those who use these skills on the job to assist our clients. We feel that measurements like our employee turnover, that despite already being lower than the industry standard has continued to decrease annually for the past 5 years, show that our Team Members appreciate Summit’s commitment towards their success. If you have questions about your wages, or those of your department, please feel free to contact me directly at jack.satterlee@summitfunding.net to discuss them. (Or better yet, walk down the hall to my office to discuss, I would love to take some time to connect on these matters). We are transparent with our salaries; we regularly include them when recruiting and as such, they can be found online. I would be happy to share with you the resources we use to ensure they are at or above market rate. I look forward to hearing from you and thank you for all that you do for our organization. Jack D. Satterlee Vice President of Human Resources Summit Funding, Inc.
1.0
16 Sept 2018

Director

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

There are none! Run away as fast as you can! Everything about this company is fake. Management is unethical and focused on making money for ONLY Todd. He careless about people even though he puts on a show about being a family man. In reality, he is just scum of the earth.

Cons

BEWARE! Don’t believe these surveys! The company is surveying employees and ONLY posting them if they are positive.

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Summit Funding Response
7y
Thank you for taking the time to post your review. It's is very unfortunate that your experience working with our company was not favorable. Please know your feedback is shared with the Executive Management team in an effort to make improvements as needed. You are also welcome to contact our HR department at HR@summitfunding.net to discuss your concerns in detail.
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Glassdoor has 266 Summit Funding reviews submitted anonymously by Summit Funding employees. Read employee reviews and ratings on Glassdoor to decide if Summit Funding is right for you.