Stonegate Mortgage Reviews

Updated April 14, 2015
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2.3
42 Reviews
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Recommend to a friend
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James J. Cutillo
20 Ratings

Employee Reviews

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  1. Helpful (11)

    Major Disappointment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Underwriter
    Former Employee - Mortgage Underwriter

    I worked at Stonegate Mortgage full-time (more than 3 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    I can't think of any.

    Cons

    13 total pto days off a year, including sick time, major overtime hours required, no work life balance, workload demands more than humanly possible. GREEDY They want to be part of a wellness plan, pay for gym memberships & promote health, but work their underwriters to death. There's no time to be healthy in this position. They say one thing & do another.

    Advice to Management

    It all went down hill when BIGGER trumped BETTER. The Original SGM was the prime of the prime place to work. Going public, wanting to be so big & adding "The Mousetrap" ideas hurt the image to employees, and clients. Having people working every waking hour literally is not a healthy work environment. I've never been around so many stressed people at one time...and bc of a job. I'm talking professional, experienced employees. Just not worth it. And so much for quality files..not when quantity trumps. And incentives are paid on volume. You can't have both in the circumstances the employees are in.

  2. Many Opportunities

    • 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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Company with many opportunities at all levels in the organization

    Cons

    It is difficult to indicate anything - a great place to work!

    Advice to Management

    Keep up the good work!

  3. Mid-Level Manager

    • 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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I appreciate that Stonegate gives me lots of flexibility to balance work and home life. As long as you are getting your work done there are no issues. It's nice to work for a company that is growing and who's future looks bright. Management is very open to new ideas and suggestions for improvement. I feel like I have the ability to make a contribution and am appreciated for it. Pay is fair.

    Cons

    The company does have some growing pains, but I'd rather work for a company that is growing than one that is not!

    Advice to Management

    Just keep growing the business so we can all get rich!

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  5. Helpful (1)

    Typical mortgage environment

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

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    My team leader is fantastic, i can be 100% honest with her and not feel like I'll be fired for it.

    Lots of OPTIONAL OT which allowed me to pay for a lot of upgrades to my home.

    Laptops are issued in my department so if your kids are sick or a repair man needs to stop by or you just need a break from the office you can work from home.

    You get 14 paid days off a year to start. Citi you get 12 and bofa you get 15 so its comparable.

    Insurance is high but whose insurance isn't now?

    They let us go home early on holiday weekends with pay.

    Relaxed attire because we dont see clients face to face.

    My base salary is the highest is ever been but i cane to the company with 13 years experience.

    Keep in mind most people who are happy with their employer dont jump on here to say so. People who have bad experiences are usually the ones who make time to come on here because they want to try and ruin the reputation of a company.

    Overall it's similar to just about any mortgage company you'll find out there. there are good and bad its just some people can deal with the bad and some can't.

    Cons

    Insurance is pricey but again arent they all now?
    Reporting needs to be implemented to allow for easier work management.
    Communication about the company needs to be more transparent.
    Growth needs to slow down to allow new departments to perfect their proceses and generate more income for the company.

    Advice to Management

    See cons

  6. Helpful (12)

    Disappointed

    • 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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    A flexible work schedule is available.

    Cons

    Lack of professionalism. Inappropriate behavior and language. Low morale among employees. Inefficient use of meeting times with employees on a department and team/unit level. Performance/productivity measurement is inadequate. Inconsistent direction given to employees, e.g. if one posed a question to 3 different managers and/or leads, one would receive 3 different and conflicting directions. Management in place with insufficient knowledge to provide correct answers to questions. Poor communication and internal customer service, e.g, there are departmental and team 'silos '. One must use elaborate, time consuming and inefficient communication channels to get a question answered for a client. Although the employee handbook mentions an 'open door' policy, very few employees want to make suggestions because of fear of reprisal and no substantive effort to address concerns.

  7. Helpful (8)

    Unreasonable and impossible expectations from underwriters. Three new files are demanded every day plus all conditons.

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

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

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    good compensation with fair benefits with exception to poor PTO time. Paid overtime.

    Cons

    No personal life, working nights and weekends. Set up for failure with impossible demands. Sweat shop, workload is relentless. Whip cracking daily.

    Advice to Management

    Increase number of PTO days per year. Have reasonable expectations, revert back to previous management style and team atmosphere. New "mouse-trap" procedures DO NOT WORK! WAKE UP, GOOD PEOPLE ARE LEAVING IN DROVES!!!!

  8. Helpful (5)

    Biting off more than it can chew.

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

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    You get a paycheck (if that counts as a pro?).

    Cons

    If you want to "catch up" on work, you have to sacrifice your personal/social life.

    Advice to Management

    Stop posting fake 5-star reviews on this website.

  9. Helpful (5)

    Soul crushing hell hole unless you enjoy stroking egos

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Information Technology Staff in Indianapolis, IN
    Former Employee - Information Technology Staff in Indianapolis, IN

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    There are many exciting challenges in the mortgage space and keeping up with exponential growth is invigorating. There are some decent people who care and are willing to work.

    Cons

    Goals are set with no basis in reality. Decisions are made based on bravado and there is no audience for a voice of reason. The shenanigans of executive leadership are appalling.

    Advice to Management

    Get over yourselves. You're not that smart and you need to retain at let some of the talent that got you to where you are today. You have people who can and will do what is necessary to stay solvent; they just need consistent vision and professional leadership.

  10. Helpful (9)

    Stay away!! Absolutely the worst company to work for!

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

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    I can't think of a single pro for this company. There are some good people who work there, but the morale is very low. They are over worked and their efforts are not appreciated by upper management. I would not be surprised if many, many more employees quit soon.

    Cons

    It is a sweatshop, the executive team has no regard for their employees, opinions and suggestions on process improvement are discouraged, especially if it goes against the "mousetrap" initiatives. If you speak out against it, you will be shown the door. Executives are egomaniacs and are only concerned with themselves and pushing employees to produce more regardless of unrealistic expectations or tremendous amount of overtime already worked. This company will fail. Their very shady dealings, and blatant disregard for federal regulations should be investigated. I can't believe they have gotten away with some of these things for so long. I'm embarrased to say that I worked for them.

    Advice to Management

    No advice to upper management as they would not listen anyway, again back to the egomaniacs.

  11. Helpful (6)

    There is no satisfaction to work here- U leave everyday feeling like you give it your all- but it just doesn't matter!

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

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

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    The people you work with. I have learned over the years being here, your co-workers are your only support because you will not find it in mgmt. The "worker bees" gives it their all- (most) They all try their hardest to take pride in their job- We laugh and really care about each other- :)

    Cons

    No actual reporting in place to see what u can improve on, they do not exist. Yet, your mid and end of year perform review AND new bonus plan is based on quality and quantity. While some can "slam" loans out, mistakes hurt the rest of the departments quantity. Therefore, they then have to sacrifice their quantity and quality - since there has not been any official Corporate audit/reports- we all know that we need to have a salable loan. At least that is what I was taught.....if you try to make it right, then you will get a terrible review and u cannot even apply for any future positions to help your career there- never in my life before until here have I had bad review. EVER! How can they grade you on this w/out rpts to back up their conclusion- u will never feel good about trying to do your job correctly- they like #'s only- ton of work to get loans thru this awful process- u cannot win. Been in this biz for over 28 yrs, was at one point a Regional Mgr. Since I have started here, not the first Mgr. has ever asked any of the employees who do the work day in and day out for suggestions or feedback- They hire within w/out letting seniority people who deserve to at least know about the job being posted that they should have at least been told about. At one point, we had a stand in manager who told our department not to apply for a team lead position because we will not get it. Who says that and why are they allowed to do that. It is all about, whether they like you or not- u don't know that because Upper mgmt. only comes out to see if anyone has a lunch menu. Never any meetings w/staff- a ton of great knowledge is over it. The only way to keep up w/ your work is working off the clock- some mgr makes u take lunch stating it is the law- I personally spoke to HR and it is up the manager, it is not the law- plus that rule did not apply to all, just the ones not liked. I was made to take these lunched even tho she knew we couldn't afford to take a half hour lunch- so several of us had to work off clock- everyone has done it and u r told not to work off the clock in one breath, but in order to get the quota met, u cannot spare 30 minutes and it had to be done, There were many many days that we joked about not being able to drink water throughout the day because u cannot afford to keep going to the bathroom--u do not have the time. These loans are so bad- they allow the brokers to run them and in the long run, it really hurts their exp w/ us. The Brokers are not happy with us. Hopefully u do not have a life and hopefully you are not looking for any attention from Mgmt.- if this is what you want in your career, then this IS the place for you-

    Advice to Management

    No one will ever say anything- you get eyes rolled behind your back or ignored, made to feel really bad for caring about the Company you work for. Even your customers (bkrs) will confide in us- literally have been asked several times what is the matter with our Company- after a while, you lose faith- NOTHING came out of Mouse Trap, except piling unrealistic expectations on the CRS's- u allowed them to become the UW Coordinator, AE/Bkr contact, VOE's, preclosers and now prefunders- not to mention the amount of calls and emails they get- HELLO....this process is broken. Another thing- everyone knows this- you cannot model after the west coast if you are in the east coast- that is crazy to think you can. Ask them to model the east coast and see what their reaction is. U need implementation, u need to look at your Mgmt team- us little people have discussed many of times....Do u think it is possible that Jim and Barb actually know that their mid to upper mgmt. team is not doing something right... or - could it be that they r not being told everything- I just can't imagine being a Pres. and VP team and to not raise an eye brow about all your employees jumping ship and NOT going to these employees asking what's going on, why r we not doing exit interviews- u r trusting your Mgmt. team that is running your Company in the ground- Your reputation is becoming a joke- I couldn't get a couple of Mtg. friends to come on board there when we were hiring. It is sad- Since I have personally started, I am on 2 additional medications and due to the amount I gave this Company as a single mom, the sacrifice my kids has taken really makes me look back and ask myself, for what? I got no where, except dealing w/ulcer's and never have cried as much in my life at a job, never! It feels Mgmt. doesn't care. So, you have to wonder, why should we??- sad part about it, it is not rocket science to boost morale- But, no bonuses for killing ourselves this last year- computer system that prohibits you from being able to meet your bazillion dollar goal- How about a stupid Turkey or Ham around Christmas time? We just feel like... U SET US UP TO FAIL!!! But, you all are good so far removed from your branches, etc. Look in your backyard....

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