Quicken Loans Reviews

Pros

Good communication, good benefits, flexible schedule in time of need

Cons

Extremely long hours, earning promotions and not receiving them, not being treated fairly compared to other top performers, no sense of a work/life balance

Pros

The company culture is insane and if you can buy into it, its pretty incredible all around. The pay is pretty amazing overall, and I love the people I work with. I routinely enjoy waking up and getting to challenge myself to succeed.

Ignore the negative comments about the base salary or the hours. These are from people that expected to show and get free money for some reason. You WILL work a lot of hours (50-55). You can work more hours if you want more money. Just like the rest of the life, the people that want more will work harder and earn more. Plus, do you really expect a high base salary for a sales job? Really? The people that do well here forget they even have a base salary.

Cons

You WILL work a lot of hours. If you aren't ok with that, then you might have a bad time.

Also, if you can't get over yourself and take criticism then you might also have a bad time. This is a competitive place to work and leaders will tell you bluntly how to improve and what not to do. They won't take you into a private office and tapdance around the situation. Some people really don't like this type of feedback.

Pros

The training is outstanding. They really do teach you valuable information about the mortgage industry, how to sell, test taking techniques, all the while being paid to take your licenses. That must cost the company a pretty penny. This is stuff you can use for the rest of your life and i still use today. Benefit package is good, but you don't have time to use them. Work culture is fun , if you're willing drink the Kool-Aid. It's also cool being around people your age and all having a common goal.

Cons

Once you "graduate" from their quicken university (which is basically like 2 months of school) things get pretty crazy. 60+ hours a week with a manager cracking the whip on being closing loans, phone calls are listen too, and a very high turnover. You're literally making 600 calls a day, everyday. It's a "churn and burn" scheme there and only 1/3rd of bankers make it after their first year. My advice to anyone is to use quicken for their licenses and go someplace else. There's a reason why no one over the age of 40 is working there. Just look around the place. All recent college grads who they know will work their asses off. They burn their employees out with the amount of pressure and hours that go into each loan. The 24,000 salary is laughable and the OT that's given to you is NOT time and a half. Don't get me wrong, you CAN make money here but you had better get used to not seeing your family, gf, or have any social life for a long long time.

Advice to Senior Management

The on the floor management for Blueprint needs to have someone experienced and have better social and communication skills and just be more competent.

Pros

The company does provide it's employee with perks to work beyond normal working hours during busy season.

Cons

If you work in operations there are very few opportunities to advance your career within the company. In order to become promoted one has to transfer from dept. to dept.

Advice to Senior Management

The senior management should treat their employees as they are people instead of interchangeable parts of the mortgage machine. It would help with the high turnover at the company.

Pros

Pay and discounted event tickets. Benefit package was competitive

Cons

Those who get ahead do so because they work hours and hours of overtime
You are not recognized for getting the job done in a timely fashion
Manager will discipline employees in front of you or put you down for not doing what someone else does in front of others
No privacy in feedback received
Managers provide very short, unclear answers to questions at times
If you do well and want to move up, you cannot they want to keep you so every job you apply for will be denied for some obscure reason.
They do not communicate changes and do not care about you having a life outside of work

Advice to Senior Management

Have the business consultants get a true picture of what is going on by speaking with member of the teams who do well and those that do not.
Stop promoting because people are working overtime (that means they cant get the job done in the time allowed). Stop promoting because "some people know people" Take a look at you Team Leaders currently - Most of the RVP are good but direct "leaders" are at most mediocre.
Stop working your team members to death... hire more people or temps when things are busy. People would work harder if they truly felt their employer cared about them!

Pros

"Possibility" to make a lot of money if you have been there for a long time.

Cons

Where to begin:

-Insane work hours (60 hr week is standard) and you are peer pressured to come in every Saturday or else your directors will make it seem like you are a slacker who doesnt care

-Horrible salary unless your loans close. However, there are a million reasons why loans do not close which you have no control over so management just keeps telling everyone to write as many loans as you can, regardless of quality which promotes very sloppy, quanity-over-quality environment.

-Constant intimidation tactics used to make employees work these crazy hours and not take lunches

-Turnover is very high because so many people quit on a monthly basis

-Everyone who was been there for over a year has a very brainwashed, cult-like allegience to the company and is very awkward

-Overall just treat their employees like a number, nobody really cares about the individual

Advice to Senior Management

Realize that some employees have families and lives outside of work. Forcing employees to work 60+ hours a week AND evry Saturday just to prove that you take your job seriously is not a good tactic for loyalty and moral.

Pros

Definate career development prospect; everyone is great to work with;

Cons

Have to be willing to work at least 50 hours a week; usual hours are 60 hours.... you are also judged based off of how many hours you work and not the type of work you put out... so if you want to go and make a lot of money working 12 hour days your golden.

Advice to Senior Management

Realize that not everyone wants to put in 60 hours a week and reward people for the excellent work they do not hours they put in.

Pros

Real experience in your industry
Pay is decent ($11/hr), much better than some internships... many unpaid
People are very friendly
Low stress
Company is growing exponentially

Cons

Marketing internships are generally $15+/hour
Company culture is obligatory.
Company wastes a lot of resources, is generally pretty inefficient. This could be a plus.

Advice to Senior Management

Show interns a clear path to full time employment, or let us know when our end date is so we can know to start looking again.

Pros

Great Company that's constantly looking for ways to create their niche (customer service) in the mortgage marketplace. Compensation is good for entry-level. Company spends alot of time focusing on providing better (hot leads) to its mortgage banking force.

Cons

Not the job for you if your a M-F 40 hour work week type of person. Very little work life balance. If your a newbie, and your put on a "bad" team, your chances of success become limited.

Advice to Senior Management

No real advice to submit here. Management is hired within, your your Director is someone that put up phenomenal number at some point in time in order to get their promotion. Not every director is good at managing/ making their mortgage banking team a successful one.

Pros

a wonderful place to work and a great place to be. I love the people and the environment that i work in everyday

Cons

probably the long hour days, having to stay from 8 in the morning until 7pm at night but that goes with any type of sales driven job. You have to put in the hours to make the money