Guaranteed Rate

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Guaranteed Rate Reviews

Updated Jul 25, 2014
Guaranteed Rate – Chicago – “Disco Dash Event”

Guaranteed Rate – Chicago – “Disco Dash Event”
All Employees Current Employees Only

3.4 176 reviews

74% Approve of the CEO

(no image)

Victor F. Ciardelli III

(144 ratings)

60% of employees recommend this company to a friend

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
176 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great work life balance

    Quality Analyst ( IT/Software) (Current Employee) Chicago, IL

    ProsI have worked for a start up and a fortune 500 company before I worked for Guaranteed Rate and I will say this is the best company thus far for work life balance! Management cares about employees having vacation time and rest time to revitalize for work. Also, I feel very included in everything as far as meetings and planning. Upper management is very involved, dedicated, visible, and accessible, if you have questions ask and they will give you an answer. Overall GR is a great organization to be apart of. Work hard and will people notice!

    ConsBenefits are a bit pricey.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    The company is a great place to work for a work/life balance

    Mortgage Underwriter (Current Employee) Chicago, IL

    ProsWorking from home, technology is the best, Encompass is the best underwriting software I've used in the business as an underwriter, excellent bonuses.

    ConsBenefits are expensive. No raises, need to rely on bonuses for decent pay. No training. Need to have a good amount of experience or else you'll struggle to keep up

    Advice to Senior ManagementMake 401k matching dollar for dollar or better

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Disappointing

    Anonymous Employee (Former Employee)

    ProsInnovative way to work files, the process is unique to anywhere I've ever worked. It's called "POD Flow". In theory, it works. If you work at corporate you get a monthly massage, gym access, on-site medical care and a cafeteria with a chef. The benefits are average, insurance is expensive everywhere you go. Their on-boarding is great! It's really evolved over the years. They definitely take time to invest in their employees and get them well trained from the beginning. They do a lot of promoting from within. The CEO is great, he's honest and direct. It's such a big company that I think his vision gets lost on the various egos that come and go.

    ConsWork-life balance doesn't exist. Leadership in the processing department is mediocre at best, you never know who your manager is because there are a ton of them. Leadership in the underwriting department is a bit better, again, there are a lot of managers, but at least you know who is your manager. Overall your experience varies a lot depending upon your manager, my first manager was amazing, I thought I was in heaven. He left the company and I had 4 managers after that, 1 was great. Be wary, although the on-boarding is great, once your in the waters, they don't give you much time to get acclimated. This can be daunting for someone who is either new, or has been unemployed and getting back to work. Pay is low for processors. It's a low base and then a per file bonus, which doesn't exist if you work for a loan officer who only does jumbo's and only closes 1 or 2 loans/month. It also doesn't exist if your loan officers don't produce.

    Advice to Senior ManagementSet realistic goals and expectations for new employees. Ensure your managers are on the same page.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Nowhere I would rather be!

    Vice President of Mortgage Lending (Current Employee) Schaumburg, IL

    ProsTraining and tools to grow your business is second to none!
    Work-family life balance is great. 9+ years working here and still loving it.

    ConsNone that I can think of that pertains to Guaranteed Rate. This industry is fast paced,
    stressful at times and time commitment required. If you can't handle that you need to get out
    of this line of work.

    Advice to Senior ManagementKeep up the good work!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    Guaranteed Rate Response

    Jun 30, 2014VP of Client Satisfaction

    Thanks for your review, it’s great to hear from happy employees!

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Hard Work Pays Off

    Vice President of Mortgage Lending - Direct Division (Current Employee)

    ProsExcellent opportunity to be self sourced loan originator.. TV commercials bring in business on top of excellent technology to help loan officers.

    ConsMaking it up the food chain..

    Advice to Senior ManagementThe pricing and placement of files to make sure files submitted will actually close and not clog up the operations staff..

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    Guaranteed Rate Response

    Jun 30, 2014VP of Client Satisfaction

    Thank you for your review, some useful feedback that i wil share w/our management team.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Can't imagine a better place to work.. and I've both looked.

    Loan Officer (Current Employee) Chicago, IL

    ProsI find the people around me and the general atmosphere here to be positive and engaging. By and large the crew at my office and the folks I've had the pleasure of spending time with from our offices across the country are among the best and brightest in the industry. I haven't found another company in our industry that offers more or has a better environment. I've been doing this for a long time and make it a point to be in touch with folks in my industry that work elsewhere. I haven't found a better place yet but I will keep an open mind.

    ConsThis place isn't for everyone. It's not a great place to coast. You must be willing to learn and grow be challenged from time to time.

    Advice to Senior ManagementBalance your focus. Keep moving us forward but make sure you are looking back from time to time to ensure we're keeping up with you. Good ideas move fast but they take time to implement.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    Guaranteed Rate Response

    Jun 30, 2014VP of Client Satisfaction

    Thanks for the review and feedback, we'll make sure it's shared with our management team.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Great place to work...for sales staff

    Sales Assistant (Current Employee)

    ProsThey are very progressive, very tech advanced, and do anything and everything to help originators do more business and grow.

    ConsOperations staff aren't the priority at this company. They are given the bulk of the work to do on every loan to help keep originators in the field producing.

    Advice to Senior ManagementI would recommend some sort of system to ensure accountability and product knowledge for the loan officers. A lot of LO's end up doing NO work and they push EVERYTHING onto the sales assistants and ops staff. They spend their time going out and having a great time with referral sources, bringing in leads and just sending them to their staff to handle (to do literally everything from application to selling the client to setting expectations to closing). Meanwhile, the LO's make the BIG BUCKS and the support staff is left in the dust... I would bet that many LO's don't even know how to use our LOS, pricing engine, etc. For such a progressive company with so much amazing technology to evaluate LO's based on pure numbers alone is truly a shame...

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great place to work

    Appraisal Desk Coordinator (Current Employee) Chicago, IL

    ProsThe environment is open and welcoming. I've never felt it to be hostile compared to other companies I have worked for. I love my co-workers!

    ConsLong hours in a fast-paced enviromment. Not for those who cannot handle crazy deadlines.

    Advice to Senior ManagementContinue to be open to suggestions and concerns from workers. It keeps everything moving more smoothly.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    Guaranteed Rate Response

    Jul 15, 2014VP - Client Satisfaction

    Thanks for the nice review, a lot of Guaranteed Rate employees feel the same way....it's an exciting place with great people!

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great Place to Work

    Anonymous Employee (Current Employee)

    ProsGet paid based on what you produce. Responsible for your own bottom line. Freedom provided you are getting your work done. Management listens and acts based on feedback provided. Marketing is outstanding. Great resources for growing your referral base

    ConsNo incentives for the overall growth of company. Company is growing which is great for morale but would mean more to employees if they were vested to some extent in the growth of the company as would be the case in any other "start-up" style company

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Poor Management

    Anonymous Employee (Former Employee)

    ProsCompany does nice things for the employees...parties, lunches, etc

    ConsOnly look at the bottom line and don't understand that looking good on paper does not mean you are a good manager or employee. Upper management needs to look at what those numbers actually stand for. Branch managers are bullies and really need to be reevaluated often and kept in check.

    Advice to Senior ManagementGet rid of middle management instead of laying off 500 jobs you could have just fired 5 managers and it would have been the same cost savings.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    Guaranteed Rate Response

    Jul 16, 2014VP - Client Satisfaction

    Thanks for the feedback, our corporate office is in the process of getting anonymous employee feedback from our remote locations about manager performance (fair treatment, assisting careers, etc ... More

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