Quicken Loans

  www.quickenloans.com
  www.quickenloans.com

Quicken Loans Reviews

Updated December 18, 2014
Updated December 18, 2014
483 Reviews
3.8
483 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Quicken Loans CEO Bill Emerson
Bill Emerson
368 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

Employee Reviews

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  1. 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 an 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
  2. 1 person found this helpful  

    Good Company long hours

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

    I have been working at Quicken Loans full-time (more than 3 years)

    Pros

    Great opportunity to make great money. Fun atmosphere, lots of parties, young crowd.

    Cons

    Long hours. They micromanage you to death. Always threatening you with your job.

    Advice to ManagementAdvice

    Do more work for your team members and not so much coaching.

    Recommends
    Positive Outlook
    Approves of CEO
  3. 4 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 an 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.

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  5. 5 people found this helpful  

    Fast pace, unforgiving, client focused environment

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

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

    Pros

    Incentives in the kitchen (free snacks such as popcorn, chex mix, cereal in case you forgot breakfast), some great mentors/team leaders, ISMs (values/words to live by) are very positive, good benefits.

    Cons

    No work/life balance; the expectation is that if you're not working overtime or offering to do so then you are a slacker and not worth the company's time. The pay is very low for the amount of work you do and positions are so specialized to the point that you are performing the same monotonous thing all day long without any variation.

    Positions are flooded with 25-35 somethings so it is very difficult to more up and even be noticed. Leaders are unforgiving and the client will have word over any team member 99.9% of the time, one mess up or complaint and you could be let go.

    Quicken Loans staffs out majority of their entry level team members so that when the mortgage market shifts, they can lay off all of the contracted team members and their rates will still show as not having let anyone go since the hundreds of people let go were not actually "Quicken Loans Team Members"

    Advice to ManagementAdvice

    Let your team members have a life outside of work, no one enjoys having zero time to sleep or have a family or even work out to improve their body and mental state. Have less team members and more variation in their work so that they can be entertained and not doing the same monotonous thing daily. More importantly, if the ISMs are such a big deal then actually live them and don't pretend to do so.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  6. 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 an 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
  7. 3 people found this helpful  

    Mortgage Banker

    • 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 an year)

    Pros

    Great company with a great philosophy. Potential to make six figures, even in your first year of employment.
    Great training enviroment.

    Cons

    Very high turn over rate
    Expect very long hours(10-11pm at night is not unusual)
    No work-life balance due to hours noted above.
    Supervisors/Others Eye your every move - listen to your phone calls etc
    Majority of pay is commission based, so don't expect a big check if you aren't good at selling loans.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  8. 1 person found this helpful  

    BGT Training

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

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

    Pros

    Paid for training
    Benefits
    Company Culture/ Values
    Great compensation for recent graduate

    Cons

    Long Hours
    Intensive training
    Tough work- Life balance
    Strict atmosphere

    Recommends
    Positive Outlook
    Approves of CEO
  9. 2 people found this helpful  

    you get out what you put in

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

    I worked at Quicken Loans as an intern (less than an year)

    Pros

    Many perks of working for quicken in the city of detroit, many discounts.
    Great culture and very relaxed.
    Leadership is great i had some great team leaders during my time.

    Cons

    No personal life, most of your time will be spent at work.

    Advice to ManagementAdvice

    The work-life balance should be improved i believe.

    Recommends
    Positive Outlook
    Approves of CEO
  10. 2 people found this helpful  

    good pay, long hours, fun work place

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

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

    Pros

    good pay fun work place

    Cons

    long hours very stressful no life work balance

    Recommends
    Positive Outlook
  11. 1 person found this helpful  

    Great Place to Work!

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

    I have been working at Quicken Loans full-time (more than 3 years)

    Pros

    Amazing workplace culture that you won't find many other places. Team oriented atmosphere with a lot of energy and positive leadership. Training and benefits are good and there is a lot of opportunity to move around in the company. The internship program brings in 1000 college students in the summer and the company is extremely involved in giving back to the community which is nice to be proud of!

    Cons

    Nothing I can think of worth complaining about.

    Advice to ManagementAdvice

    Thanks!

    Recommends
    Approves of CEO

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