Home Equity Loan Originator - Home Equity Loan Officer Discover Employee Review

1.0
24 Feb 2017
Recommend
CEO approval
Business outlook

Pros

Pays barely more than unemployment No layoffs in the 2 years I've been here Frontline Management "Coaches" and the customer relationship manager both are very helpful and knowledgeable.

Cons

Incentive recently cut by 55%. I won't go into exact numbers but good luck making more than $500 a month. Slow underwriting. Pay increased recently for entry level employees but not skilled employees. Now new employees are making more then tenured staff. Commission can be taken if you fail call quality. High Turnover. Lack of mortgage / home equity experience with upper management. The Department Managers try to run the Home Equity business like the credit card side of the company due to their lack of experience in the mortgage / home equity field. They refuse to listen to employee feedback. They will advise you that "this is not a sales job this is a customer service job and if you are wanting to make good commission then this may not be a good fit for you" Processing is completed by a third party company based in India. You will be advised to withhold information from customers such as all of their personal information (pay, ss#, dob) is being sent to India. Discover will only pay for the cheapest appraisals which causes long waits due to no appraisers wanting to take the job. Appraisals never come in as high as the desktop appraisal that we give the customer initially.

Explore other reviews about Discover

5.0
28 Mar 2026
Recommend
CEO approval
Business outlook

Pros

One of the most significant advantages of interning at Discover is the opportunity to work with massive, high-stakes financial datasets within a highly collaborative and mentorship-driven culture. Because the company manages millions of consumer accounts, you gain direct experience in how data-driven decisions impact risk management, credit modeling, and fraud detection in real time. The environment is known for being supportive of early-career professionals, offering structured learning paths and exposure to modern cloud-native infrastructures like AWS. Furthermore, the company’s strong focus on work-life balance and a clear pipeline for converting interns to full-time roles makes it an excellent "foot in the door" for anyone looking to build a career in fintech.

Cons

On the other hand, the primary drawback often stems from the inherent bureaucracy and heavy regulation of the banking industry, which can lead to slower project lifecycles and "red tape." You may find that a significant portion of your time is spent on repetitive data cleaning and maintaining legacy reporting systems rather than building the cutting-edge predictive models you might expect. Additionally, because Discover is a massive organization, your scope of work can sometimes feel siloed, making it difficult to see the end-to-end impact of your analysis across different departments. Finally, the current landscape of the industry means that internal shifts or large-scale corporate restructuring can occasionally lead to uncertainty regarding team directions or long-term project stability.

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