GMAC-RFC Reviews

Pros

Great benefits and large enough to grow if you are in the right departments. Seemed generally family friendly.

Cons

Layoffs were constant during the melt down. Not sure if Bloomington offices are going to stay or be moved to Philadelphia.

Pros

Good organizataion,
good co workers,
 management,
opportunity to learn,
convenient work location,
decent enough pay and decent benefits,
latest technology used.

Cons

Layoffs , not much opportunity to grow, need to move to PA to grow. Minneapolis operations are being shut down. Contractors more preferred than employees.

Advice to Senior Management

Hopefully the mortgage industry see light at the end of the tunnel. Hope that Minneapolis location grows in size. All the best.

Pros

Paycheck, people and getting to wear jeans

Cons

Management, the way they micro manage and the way they do not communicate

Advice to Senior Management

Get a clue and ask your work staff what works best

Pros

Co-workers were decent to work with and the place was relaxed, perhaps too relaxed.
Ability to work remote as needed.

Cons

Limited growth opportunity, come in, sit in a box, leave.
Mis-directed management with no clear business direction.
No accountability by business owners.

Advice to Senior Management

Have a plan, follow-through, put a true career development program together to recruit, incent, and promote good people. Get rid of dead-weight people who have been there forever and contribute little.

Pros

Great people
Used to be a great environment before the credit crunch
Good exposure to that industry
good work life balance

Cons

Management turnover too high
Management so involved that not much time to focus ont he team
Nobody to learn from; everything if self taught
No career progression in place and no study benefits

Advice to Senior Management

N/A

Pros

Pay and benefits are awesome... even during the worst of crisis they didn't cut benefits...

Cons

Previous management made bad decisions, and now everyone is suffering... fingers crossed!

Advice to Senior Management

Make sure after selling us to someone else, we still keep our job

Pros

Reasonable salary; Flexible work hours; Work from home option; Friendly people to work with for the most part; Work tools provided.

Cons

Allowing some managers to dominate and push their agenda without considering suggestions from the people actually performing the work and knows the details.

Advice to Senior Management

Stop sending US jobs to other countries. They may be cheaper but it takes more of them to get the job done correctly the first time. Too many translation issues. Our economy needs the jobs.

Pros

bonuses were great in the good times

Cons

The company was not able to adjust to changes in the economy in a sufficient manner so to survive. Morale was low due to the company's inability to provide leadership in the marketplace.

Advice to Senior Management

employ better risk management methodology

Pros

Being a subsidiary of GMAC has its benefits, both from a total rewards, recognition, and benefits perspective. But this is a company that excelled in another world, prior to the mortgage market meltdown and global economic turmoil. Work - life balance was strongly encouraged and supported.

Cons

GMAC-RFC served a niche market that at one point was very profitable. Then the world changed and the company did not change fast enough or move in the right direction. While talking about diversification of its portfolio, the company missed the boat in that it still focused on the sub prime market. The pressures brought about by the sale of GMAC to Cerebus also created turmoil as GMAC sought to consolidate and become more efficient. There were culture clashes and low employee engagement as a result. The people who needed to be retained were either let go or left the company before things got too bad.

Advice to Senior Management

Get back to the basics. Either build a culture that people can buy into or divest the business and focus on growth areas.

Pros

They supported a balanced work/personal life. One was not looked down on or held back for future opportunities just because one needed a vacation every year or didn't want to work 12 hour days. In fact, 12 hour days were seen as a sign of a problem, and that problem was dealt with.

Cons

I was with a satellite office that had an excellent rate of turning foreclosures into homes sold. The corporate office was rather stodgy. Their larger (than San Diego) servicing site in Horsham PA had a time-tested, never-changing way of doing things. Even though we handled the poorer credit loans (thus, more foreclosures) and had a higher turnaround rate, Horsham still looked down on San Diego as renegades.

Advice to Senior Management

Go with what works, rather than what's always been done.