Guaranteed Rate

  www.guaranteedrate.com
  www.guaranteedrate.com
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Guaranteed Rate Reviews

Updated September 16, 2014
Updated September 16, 2014
188 Reviews
3.5
188 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
(no image)
Victor F. Ciardelli III
153 Ratings

Review Highlights

Pros
  • The technology is very good, allowing work from home as an option (in 10 reviews)

  • Loan officer is able to sell instead of "babysitting" file through close (in 12 reviews)


Cons
  • Leads are re-churned and Loan Officers are given old leads to call on (in 20 reviews)

  • Don't lose site of the CEO's vision to make the mortgage industry transparent (in 7 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    So far, so good!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern  in  Chicago, IL
    Current Employee - Intern in Chicago, IL

    I have been working at Guaranteed Rate as an intern for less than a year

    Pros

    Brand new to the company, and so far I'm really happy with the opportunities I have been given to learn about GR and the industry. Welcoming environment with a friendly staff. Its nice to have approachable management for a change!

    Cons

    No issues with the company.

    Advice to ManagementAdvice

    Keep up the good work!

    Recommends
    Positive Outlook
    Approves of CEO

    Guaranteed Rate Response

    Sep 2, 2014Marketing Project Manager

    We're glad your first year has been enjoyable and full of opportunities to learn about Guaranteed Rate and the industry! We share your sentiment about the people here being friendly and welcoming ... More

  2.  

    Great People

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Regional Marketing Manager  in  Chicago, IL
    Current Employee - Regional Marketing Manager in Chicago, IL

    I have been working at Guaranteed Rate full-time for more than a year

    Pros

    The coworkers are the main reason I work here. I love the marketing team that I work with. Everyone has a teamwork mentality and helps each other to complete tasks.

    Cons

    Sometimes, there is not enough staffing to get jobs done as quickly as we would like to. I work on the marketing for over 200 VP's and at times that is overwhelming.

    Advice to ManagementAdvice

    It is important to understand what your staff is doing at all times. It is sometimes hard to stay motivated when you know you will always be doing the same thing with the same outcome. Consider setting goals and perks whent they are met.

    Recommends
    Neutral Outlook
    No opinion of CEO

    Guaranteed Rate Response

    Sep 2, 2014Marketing Project Manager

    Our marketing team is truly outstanding - we absolutely agree with you!

    We understand your feelings about not always being able to get things done as quickly as you'd like. We appreciate your
    ... More

  3.  

    Perfect Balance between social life and work life

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Marketing
    Current Employee - Marketing

    I have been working at Guaranteed Rate full-time for more than a year

    Pros

    The people you work with. Everyone seems to give that family feel making work a very likable thing to come to everyday. The constant communication between team members allows the fast paced environment to feel comfortable. Being able to lean on others for help and not feeling lost or afraid to asks questions is a plus. Upper management allows for you to create a path you want to go and is open to new ideas.

    Cons

    Based on the market, work load can sometimes be over flowing. Staying on top of the workload and not having enough hands to finish tasks on time have been a challenge before.

    Recommends
    Positive Outlook
    No opinion of CEO

    Guaranteed Rate Response

    Sep 2, 2014Marketing Project Manager

    We agree that the people at Guaranteed Rate are what make this a phenomenal place to work. Great to hear your feedback about upper management being encouraging and open to new ideas!

    We
    ... More

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  5.  

    Great Work/Life Balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Officer  in  Chicago, IL
    Current Employee - Loan Officer in Chicago, IL

    I have been working at Guaranteed Rate full-time for more than 5 years

    Pros

    Non-corporate environment with opportunity to make good money while balancing your work and life. Great corporate culture with innovative CEO

    Cons

    Benefits are expensive. No incentive for overall company performance/growth

    Recommends
    Positive Outlook
    Approves of CEO

    Guaranteed Rate Response

    Sep 2, 2014Marketing Project Manager

    We couldn't agree more about the fantastic non-corporate environment, great company culture and work-life balance.

    We hear your concerns about the cost of benefits and incentives for company
    ... More

  6. 3 people found this helpful  

    A Company regardless of how big it ever gets has senior management working to satisfy only one person - VC III

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at Guaranteed Rate full-time for more than 3 years

    Pros

    Name recognition within the industry, cool building, great cafeteria, gym if you pay for it, a massage therapist

    Cons

    Treated like a piece of furniture and expendable at whim. Aside from selling mortgages legally, owner does not care about best practices, or dealing with employees legally or ethically.

    Advice to ManagementAdvice

    Unfortunately, unless senior management stands their ground, the only way things will change is if Victor gets dinged in the pocket really hard.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Guaranteed Rate Response

    Sep 8, 2014Sr. Manager - Social Media

    There are fantastic perks about working at Guaranteed Rate, we couldn't agree with you more about the chef, amazing rooftop deck, employee appreciation days, corporate culture, charity fun runs and ... More

  7.  

    Good place to work as the compensation is based on productivity of the individual. If goals are met everyone is happy.

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at Guaranteed Rate full-time

    Pros

    Forward thinking and visionary management open to new ideas to increase the bottom line. Personal growth opportunities and incentives provided to employees.

    Cons

    Company is growing but employees are not vested in the growth much since no incentives are provided.

    Advice to ManagementAdvice

    Promote more people from within the company if possible.

    Recommends
    Neutral Outlook
    No opinion of CEO

    Guaranteed Rate Response

    Aug 26, 2014VP - Client Satisfaction

    Thanks for the feedback!

    We completely agree with your statements about Guaranteed Rate being visionary; we're committed to being the #1 mortgage broker in the country (currently we’re top 10) as
    ... More

  8. 1 person found this helpful  

    My experience at Guaranteed Rate was horrible. Worked tons of overtime not paid for it.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Guaranteed Rate full-time for less than a year

    Pros

    I have no positive things to say about Guaranteed Rate

    Cons

    Low base salary, not paid for overtime and benefits are terrible. Not a good place to work

    Advice to ManagementAdvice

    Pay your employees what they are worth and do something about your benefits They are virtually non existencet .

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Guaranteed Rate Response

    Sep 17, 2014Sr. Manager - Social Media

    We're really sorry to hear about your experience. We appreciate your feedback about overtime and the cost of benefits - we're looking into this and how we can adjust things moving forward.

  9. 1 person found this helpful  

    Complete Disappointment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President Mortgage Lending
    Current Employee - Vice President Mortgage Lending

    I have been working at Guaranteed Rate full-time for more than a year

    Pros

    Good marketing. Good use of technology.

    Cons

    Overhyped, fails to deliver anything to the loan officer, known in the market as "Guaranteed Late." There isn't anything good to say about this company when it comes to getting loans done. The POD loan process at Guaranteed Rate simply does not work. As a company, GR does not stay accountable for anything. When something goes wrong, all of the Chicago personnel immediately blame the loan officer. At the top of the heap is the founder and CEO Victor Ciardelli. On weekly calls he rants about how loan officers should know guidelines better than underwriters. He goes on and on about how the GR platform is so amazing. Victor thinks that GR makes loan officers productive and good. That's his assumption. His mentality is that if a loan officer doesn't do well at GR, it's because the loan officer is an idiot. This is not a welcoming CEO nor company that is dedicated to the success of people who join. Rather, Victor is only dedicated to his top producers in Chicago, Boston, and Denver. On weekly sales calls the only loan officers he talks about ad nauseam are his Chicago top producers. STAY AWAY FROM THIS COMPANY UNLESS YOU ARE PHYSICALLY LOCATED IN CHICAGO AND RELATED TO A GR TOP PRODUCER AND EVEN STILL DONT MIND BEING TREATED LIKE AN IMBECILE UNTIL YOUR PRODUCTION LOOKS DECENT!!!!!!

    Advice to ManagementAdvice

    The POD process needs to be overhauled or dumped. GR needs to be more responsive on loans in processing and underwriting. Anytime there is a problem with a loan in process, the loan officer has to wait 24-48 hours to get a response on the simplest things. When 12 conditions show up at CTC, it is not always the loan officer's fault. Communication at GR fails for a variety of reasons, especially high turnover with MCs, LCs and underwriters in Chicago!!! The same god forsaken loans I submit at GR end up closing at the big banks with no problems! Victor as CEO needs to tone his horrible attitude down. If there are stupid loan officers at GR, then he should deal with them individually rather than generalize on company calls and effectively waste everyone's time by calling everyone an idiot. GR needs to stop all of the internal campaigns to vote for GR as "best company to work for" and Victor as "CEO of the year." There is no integrity in doing this when saleable loans are falling through all the time. Victor leaves full on yelling screaming "I'm going to destroy you" voicemail messages for loan officers who have left GR. Victor is lawyer crazy and goes after anyone that leaves GR as a group working together somewhere else. Is that "CEO of the year" material by any standard?

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    They say they are different. They are - just not in a good way.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Coordinator  in  Chicago, IL
    Former Employee - Loan Coordinator in Chicago, IL

    I worked at Guaranteed Rate full-time for more than 3 years

    Pros

    They do have low rates.
    Great marketing support.

    Cons

    No life. Operations are overworked and underpaid. Their "POD" model is supposed to be a superior process. It isn't. Great in theory, terrible in practice. Pass the file on to close with someone that has no clue about the file and now has to catch up. Management all have really big egos and say that want to hear opinions yet in reality they really want "yes" men. Question them and they smile - but it will catch up to you later. Seriously if you work here, just smile and go with the flow. Big titles like VP for loan officers are meant to give importance. VP's (loan officer) can choose how they get paid but that can be different for each loan officer. This reflects in what interest rate is charged to the consumer. Higher pay means higher rates. Want to give low rates? get paid less. Terrible concept since what rate the consumer gets depends on who you talk to, even within the same office.

    Advice to ManagementAdvice

    Not that they would listen, but some consistency. Look at the broken POD model. Give the operations some semblance of a life.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Guaranteed Rate Response

    Sep 15, 2014Sr. Manager - Social Media

    We think our low rates and marketing support are pretty great too.

    We appreciate your feedback about the POD model. We’ll look into how we can make improvements to make sure there is no lapse in
    ... More

  11. 1 person found this helpful  

    Fighting For My Paycheck

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Loan Coordinator  in  New York, NY
    Current Employee - Loan Coordinator in New York, NY

    I have been working at Guaranteed Rate full-time for more than a year

    Pros

    I'm forced to add something in pros. The office has AC

    Cons

    Every pay period I'm either fighting for an accurate paycheck that reflects the hours I work or I'm Fighting to get the correct amount of loans on my bonus checks. Feels like the company makes it so hard to get paid you'll drop the issue. Very disappointing

    Advice to ManagementAdvice

    Stop with the charging ops(Paid the least in the industry) for errors

    Doesn't Recommend
    Disapproves of CEO

    Guaranteed Rate Response

    Sep 9, 2014Sr. Manager - Social Media

    We're really sorry to hear about the difficulty you're having receiving accurate paychecks. We've reached out to the appropriate departments and are looking into where and why this is happening. We ... More

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