Stonegate Mortgage

  www.stonegatemtg.com
  www.stonegatemtg.com

Stonegate Mortgage Reviews

Updated November 30, 2014
Updated November 30, 2014
20 Reviews
2.3
20 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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James J. Cutillo
7 Ratings

Employee Reviews

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  1.  

    They Would Rather Sweep Issues Under the Rug Instead of Deal With them

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Advisor in Franklin, TN
    Former Employee - Mortgage Advisor in Franklin, TN

    I worked at Stonegate Mortgage full-time (less than an year)

    Pros

    All E-disclosures done from a department at Corp. LO's don't have to deal with them or Re-disclosures etc... Very easy UW and it's the quickest I've seen. That's the ONLY thing good about this company.

    Cons

    Your TEAM or UW, processors, closers are spread out all over the USA. So good luck getting in touch with them. Corp big boys don't like to deal with issues - so they just IGNORE YOU.

    Advice to ManagementAdvice

    This "could" be a great company. Take time to listen to the one's that are trying to help you with that. Jim Cutillo needs to take a clue from SWA on how to treat it's employees. Your company seems like a revolving door of people who have come thru and then left because you just don't get it.

    Doesn't Recommend
    Disapproves of CEO
  2.  

    Worst company I ever worked for.

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

    I worked at Stonegate Mortgage full-time (more than an year)

    Pros

    They promise you growth that is the carrot that they put in front of you. People are so unhappy and overwhelmed with their continuous changes and demands.

    Cons

    This company consumes your attention, many people have resigned with health issues.

    Advice to ManagementAdvice

    The favoritism and office politics are composed of employees who all came from the same previous company and if you don't conform to their standards your seen as an outsider and they will find a way to get rid of you.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Top company years ago, went public...employees beware.

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

    I have been working at Stonegate Mortgage full-time (more than an year)

    Pros

    Nothing that I can now consider.

    Cons

    Managerial incompetence (not interested in what they are overseeing, because they don't have to...this was actually said.).
    Good ole boy network. (If you are a "yes" man/woman, tow the line, get along with the supervisors and managers. You'll go far...if not. Start looking for a new job).
    No direction. Seriously. None. This is how we've grown. "Surprise, we've just bought a new company!!"
    No acknowledgement for good work. High profile "accomplishers" get there from the labors of others.
    Work from home flexibility, gone. Bonus plans, gone. Team environments, gone.
    If you take time off, you are obligated to give notice so if a child gets sick and you have to use what little time off you have. Be conscious that now you are looked at like a slacker.

    Advice to ManagementAdvice

    What's to say. They don't care. They do what they want. Why bother. There have been four high profile executives to leave in the last year. The writing is on the wall.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    Home Away From Home

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Corporate Assistant in Indianapolis, IN
    Current Employee - Corporate Assistant in Indianapolis, IN

    I have been working at Stonegate Mortgage full-time (less than an year)

    Pros

    Team work! We are a great team on all levels!

    Cons

    You have to take the pros with the cons! It's very busy and at times.. it can be overwhelming.

    Advice to ManagementAdvice

    This is a BUSINESS. The company DOES care about their employees. It's great to work for a company that can be flexible. The Cutillo's have a family. They understand that family does come first in a lot of cases. It's an "open door" policy here. The company has been going through changes...that's business. I could be laid off tomorrow (hope not) but that's life. There is not a perfect work place anywhere in this country however, this is a damned good company to work for. I'm at the low end of the totem pole, here at Stonegate...but I'm proud to be their cheerleader!

    Recommends
    Positive Outlook
    Approves of CEO
  6. 4 people found this helpful  

    Growing too big too fast

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Stonegate Mortgage

    Pros

    I had a job that I enjoyed but then our office was turned into a call center.We had to accept this change if we wanted to keep a job.

    Cons

    Management jwas short sighted did not plan ahead for the fast growth. Some of our servicing jobs were outsourced to companies that were also not setup to handle our fast growth. The rest of our servicing jobs went to a new office in Dallas and handled by people that may have had four year college degrees but had no mortgage background.if we wanted to keep a job in our office we had to sign a new job description as a call center representative.. We spent our days being yelled at by customers whose payments were not posted correctly or whose taxes were not being paid correctly or insurance is not being paid on time if at all......
    or my personal favorite - loan packages that we have purchased where customers are angry because they were told by their mortgage advisor that their mortgage insurance premium would drop from their escrow payment after they made half a dozen payments in good faith.
    I personally had instances where loan packages we had purchased were not closed correctly and legal descriptions are incorrect. the industry as a whole is just doing things too quickly yet again..... loan closings are not being done correctly and borrowers need to be asking more questions before they close and find out what they are really getting as far as the loan product.

    Advice to ManagementAdvice

    Stop discarding and dismissing the seasoned employees with the actual mortgage backgrounds in lieu of hiring these four year college graduates most of whom will likely stay for a year to get experience and then take their knowledge on to their new career job.

  7. 1 person found this helpful  

    Stone cold, Stonegate

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

    I have been working at Stonegate Mortgage full-time (more than an year)

    Pros

    Schedules are flexible and you have the opprotunity to work from home sometimes.

    Cons

    No organization, training, or promised bonus.

    Advice to ManagementAdvice

    Provide better training and a bonus structure for all the work the employees put in.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 2 people found this helpful  

    Prospective Employees Beware

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Executive Assistant in Indianapolis, IN
    Current Employee - Executive Assistant in Indianapolis, IN

    I have been working at Stonegate Mortgage full-time (more than an year)

    Pros

    There is nothing positive to say.

    Cons

    What you need to know: In April of this year they fired numerous employees and closed an Illinois office without warning. In late June, they then went to Arizona and shut them down - again firing numerous employees who had no clue it was coming. The Scottsdale office was one of their major hubs - no more. This past March there was a press conference with Governor about them opening up 400 new jobs in their main office; however, as it turns out they are sending more than 100 jobs from two of their HQ departments to India! In June of this year, the CEO - Dan B. resigned - reportedly to pursue other interests. In truth, he saw the writing on the wall and wanted to distance himself from SGM as much as possible. The list goes on and on. Despite its latest quarterly earnings statement (which appear grossly overblown), this company clearly has major problems. The culture is hostile and their future uncertain. Not to mention their shady business practices. If you're looking for a positive culture, a stable company and a place to make a career for the long term - I do NOT recommend this turbulent, unstable company that does not value its employees and is working its way to expulsion from the NYSE for shady practices and ultimately extinction. They are gearing up for a major external audit and the SEC is watching them very closely.

    Advice to ManagementAdvice

    There is nothing you can tell a group of people who are not interested in employee opinions and only interested in padding their pockets - via off-shore accounts nonetheless.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Analyst in Indianapolis, IN
    Current Employee - Analyst in Indianapolis, IN

    I have been working at Stonegate Mortgage full-time (more than an year)

    Pros

    The department I work in treats their staff as professionals

    Cons

    Since going public, it seems like information about the company has been very limited.

    Advice to ManagementAdvice

    Provide Career path opportunities

    Recommends
    Positive Outlook
    Approves of CEO
  10. 1 person found this helpful  

    It is okay to work for them, but there are issues

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

    I have been working at Stonegate Mortgage full-time (more than an year)

    Pros

    Very understanding to people's personal lives. Willing to work with me on my schedule. Very flexible about coming in early/leaving early and coming in late/staying later (with adequate notice). Co-workers are supportive, but stress develops to get numbers out at the end of month, but management has provided gas cards/lunches to try to energize the people there.

    Cons

    You don't come here to get rich. The pay structure could use a thorough look through. I don't know about the pay levels in Indianapolis, but in Tampa Bay, it is not cheap to live here. I have no intentions of leaving the company in the foreseeable future, but when I compare what I do to other companies with similar positions, the pay can fall short. Benefits are okay, but needs some attention. Attrition is not too high in the office I work at, until the last 2 months. We lost 5 people that were very good at what they do and that can impact any business or division.

    Advice to ManagementAdvice

    Work to get the benefits programs to be better- 401k, health/dental/vision, and even an increase to an employees' PTOs can help immensely. Take a closer look at employee salaries based on where they live. What it costs to live in Indianapolis is not the same as Clearwater or Phoenix. I understand that salaries may be tied to benefits, but the benefits are suffering. Maybe a little "Undercover Boss" or something is needed.... Not necessarily with the level of publicity that a national program comes with, but sending senior management in to take a closer look at what we are doing may help.

    Recommends
    Neutral Outlook
    No opinion of CEO
  11.  

    Fun, nice people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Support Specialist in Overland Park, KS
    Current Employee - Software Support Specialist in Overland Park, KS

    I have been working at Stonegate Mortgage full-time (more than 5 years)

    Pros

    Flexibility with work schedule.

    Cons

    None that I can think of. I have a great time working here.

    Advice to ManagementAdvice

    Continue to use the manger training provided to Stonegate

    Recommends
    Positive Outlook
    Approves of CEO

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