Quicken Loans

www.quickenloans.com

Quicken Loans Reviews

Updated January 16, 2015
Updated January 16, 2015
508 Reviews
3.9
508 Reviews
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Recommend to a friend
Approve of CEO
Quicken Loans CEO Bill Emerson
Bill Emerson
386 Ratings

Review Highlights

Pros
  • I also had a chance to experience the work environment and why Quicken Loans is number one (in 29 reviews)

  • Great culture, friendly team members fun looking office atmosphere (in 24 reviews)


Cons
  • Work-life balance is the number one reason team members leave QL (in 55 reviews)

  • no work life balance, management cares about sales not necessarily the individuals (in 32 reviews)

More Highlights

80 Employee Reviews Back to all reviews

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  1. 2 people found this helpful  

    SWEATSHOP

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI

    I worked at Quicken Loans full-time (more than a year)

    Pros

    The building looks cool and has lots of pretty colors. Free food, snacks, and drinks constantly to keep you stimulated. Great pay and benefits if you're willing to put in the hours.

    Cons

    If you're on the mortgage side of things, they basically run it like a sweatshop - Super long hours, basically a 60-70 hr week MINIMUM. Constant guilt-trips and brain washing if you don't work more than that. They basically want you to live there. My bosses told me multiple times there's no such thing as a "work / life balance". Kiss your friends, family, social life, and really any other activities you enjoy outside of work goodbye - you're a QL slave now.

    Advice to ManagementAdvice

    Seriously, ease up on the hours and the constant stress. Realize that people have lives outside of work and don't be jerks all the time.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2.  

    Boring

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern in Detroit, MI
    Former Employee - Intern in Detroit, MI

    I worked at Quicken Loans

    Pros

    Good pay
    Met some cool people

    Cons

    Very boring
    Basically sit around and do nothing all day

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3. 1 person found this helpful  

    Longggg hours!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Mortgage Banker in Scottsdale, AZ
    Former Employee - Senior Mortgage Banker in Scottsdale, AZ

    I worked at Quicken Loans full-time (more than a year)

    Pros

    Commission is amazing if you hit your goals.

    Cons

    Long hours
    Directors not engaged with team

    Advice to ManagementAdvice

    Stop with favortism towards people in the office

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Working as a mortgage banker at QL you'll make a fair amount of money money, but you sacrifice havinf a normal life

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI

    I worked at Quicken Loans full-time (more than a year)

    Pros

    Income can easily reach six figures
    Excellent benefit package
    Good work environment
    Top notch facilities, and numerous amenities

    Cons

    55 hours expected, at a minimum (realistically 60-70)
    Sometimes there's too much commotion, making it difficult to focus
    No transparency with upper management
    Though you may have time paid time off, using it may affect your ranking in the company, thus affecting income

    Advice to ManagementAdvice

    Don't use the same sales tactics on your employees that you use on your employees, and just don't work your employees to the point of exhaustion. They'll be more productive in the long run if they're healthy and happy, both mentally and physically.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Vendor Analyst

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vendor Analyst in Detroit, MI
    Former Employee - Vendor Analyst in Detroit, MI

    I worked at Quicken Loans full-time (more than a year)

    Pros

    Great bonuses and plenty of overtime

    Cons

    Poor management and low compensation

    Advice to ManagementAdvice

    Obtain knowledge about the team that you manage

    Recommends
    Neutral Outlook
  7. 2 people found this helpful  

    Ism's- it's what you do

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI

    I worked at Quicken Loans full-time (less than a year)

    Pros

    competitive salary, office excitement, perks

    Cons

    always hiring, no work-life balance, cellphone number becomes public

    Advice to ManagementAdvice

    consider that your staff are actual people with lives. i'm sure i could have given the company a bit more of my time or tried a different role but it was so production based i felt like a failure from the first time i stepped on the sales floor, even when i was given or asked for help

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    We focus on the Pros even though the Cons outweighs them. That's how you're trained to think at Quicken Loans. #IgnoreTheNoise

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vendor Analyst in Detroit, MI
    Current Employee - Vendor Analyst in Detroit, MI

    I have been working at Quicken Loans full-time (more than a year)

    Pros

    The environment is amazing. You meet wonderful people that eventually become family. Wonderful perks. A lot of activities. Celebrities like to visit for some reason.

    Cons

    You're told one thing but really there are 1,000 different meeting and it's your fault that you didn't know the other 999 meanings and you're still held accountable.

    Everything is a secret. They claim they don't want other companies getting a hold of their stuff but i mean you can't even print out the employee handbook and most people don't have enough time to read it due to the workload and everything else you're expected to do in a 9-12 hour day.

    You CAN/WILL BE micro-managed. They do have the power to do so and they will use it. They already monitor stuff like how long you're in a loan, how long it takes for you to pull another one. How many tasks you can complete in a day. They can pull your email history, chat/IM history, Phone calls (and of course they would rather you use their phone and not your cell phone during work hours. You don't have to during your breaks but they tell you to give out your work number to people so that they're not calling your cell phone)...I don't have a problem with any of this except for the fact that they promoted that they don't micro-manage.

    Advice to ManagementAdvice

    I love all the activities that we offer but I've been at Quicken Loans for 2+ years and I've only been able to participate like once or twice. Why? Because of my team's workload. Since there's always something we could be doing in a loan, we're never really aloud to go have fun. I get that work needs to be done but the point of these activities (that usually happens during work hours) are to take a break from the computer monitors that we stare at for 8-14 hours a day.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 6 people found this helpful  

    Mortgage banker,

    If you can be a robot for 14 hours a day, this is the job for you!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI

    I worked at Quicken Loans full-time (less than a year)

    Pros

    The first month was good, filled with relevant mortgage training. They will get you licensed in 10 or more states before you are allowed to work on the banking floor.

    Cons

    They expect 150 % out of you every minute of the day ( 8am until 10 pm) if you leave your desk for more than a 20 minute lunch you will be treated badly and considered a slacker by your superiors. If you don't work at least 70 hours a week you will be fired. The influence and persuasion of the clients is pushed to the point of embarrassment, like con artists. You will be fired if you have a regular intelligent conversation with a client or a realtor and do not follow the script, there is a script for every single play and every single client objection. I was lied to about the time it takes before you can actually get on the banking floor, they said 3 months it was 7, living on 9 dollars an hour for that long when you have a mortgage, car payment and other bills is basically impossible. I had clients that had their loans denied right before closing and were left homeless, who does that? If you are young ( 20 to 26) can handle being a puppet, require only 5 hours or less of sleep per night and can handle the constant threats of being fired, then this is the place for you.

    Advice to ManagementAdvice

    You put a lot of money into licensing a banker, and get rid of people at the drop of a hat for no good reason. You don't care because you'll have 100 new bankers next month. The day will come when no one will want to work as a mortgage banker for QL. Open your eyes, start treating bankers like humans.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  10. 6 people found this helpful  

    I only recommend it to people with no family and a thick skin.

    Former Employee - $11 Per Hour Aerotek Contract House Worker At QL in Detroit, MI
    Former Employee - $11 Per Hour Aerotek Contract House Worker At QL in Detroit, MI

    I worked at Quicken Loans full-time (less than a year)

    Pros

    I liked the free cereal and Lipton tea. I also enjoyed calling "The Guy" when the computer was broken. Things were then fixed very quickly. When you work near skyscrapers, your ego becomes almost as big as a skyscraper.

    Cons

    I was an Aerotek employee at Quicken Loans. We received dozens of e-mails per day. Only a few pertained to us. However, if once in a blue moon we missed an e-mail, we received a nasty letter from the supervisor demanding why we did not respond.

    Almost every single day, we were threatened by our supervisor. If you made a tiny mistake like clock in one minute early, clock in one minute late, or save something in the computer in the wrong place by accident, it was "Verbal. Written. Out the door." In the elevators, we only let off steam with people that we _really_ trusted. There was an atmosphere that someone might turn us in for being "negative." Then we might get fired.

    Another issue was phone messages. If we were going to take a day off or go on vacation on a day that everyone goes on vacation, we had to change our phone messages to reflect the one missing day. If you receive calls from the public, I can understand it. Otherwise, I think it is a waste of time. Of course, if we did not do it, we were threatened with "Verbal. Written. Out the door."

    What really stinks is that supervisors are not allowed to give references. When I was laid off in August 2013, I applied for a position in Quicken Loans as a real Quicken Loans employee, not an Aerotek contract house worker. Only one of four supervisors were willing to be a reference. The rest were too afraid to help me. That is some thanks for busting my rear for eight months and almost destroying my shoulder blades by typing almost non-stop for eight, nine, ten hours per day. I

     left another job to come to Aerotek to work for Quicken Loans. Eight months later in late August, I was laid off with many other Aerotek employees. It happened the Friday before Labor Day. I guess Dan Gilbert did not want to pay us for Labor Day? It was a real slap in the face.

    Because many of us had to park at the Lothrup Parking garage miles away, the commute was a real pain in the neck. Campus Martius is twelve miles away from my house. My commute (plus waiting for a shuttle between Campus Martius and Lothruop) probably took one hour each way. That averages to five minutes per mile.

    Advice to ManagementAdvice

    First, treat Aerotek and Quicken Loans employees as humans, not as disposable slaves. Quicken Loans is only a mortgage company. It is not an Army division. It is not a hospital. If someone makes a mistake, no one will die.

    Second, allow criticism of the company. A little negativity is a good thing, if the critique is correct.

    Third, almost everyone in Metro Detroit says that a newly hired Aerotek/Quicken Loan employee will not last long. QL has become a joke.

  11. 2 people found this helpful  

    No Work/Life Balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate Mortgage Banker in Detroit, MI
    Former Employee - Associate Mortgage Banker in Detroit, MI

    I worked at Quicken Loans full-time (less than a year)

    Pros

    Very fun environment to work in. Lots of excitement and fun to be had during the day. Tons of excellent training if you are not familiar with mortgages. Management is very supportive of employees as long as it pertains to work. Excellent company culture, if you aren't a mortgage banker there are lots of opportunities for fun things with the company.

    Cons

    65 hour weeks with 6-7 work days are the normal. Company seems to have a churn and burn attitude towards employees. Use them up and bring in the next ones. Only executive management had any longevity.

    Advice to ManagementAdvice

    Consider better work/life management.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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