Stonegate Mortgage Reviews

Updated March 29, 2015
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2.1
37 Reviews
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James J. Cutillo
17 Ratings

Employee Reviews

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  1. 6 people found this helpful

    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)

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
  2. 3 people found this helpful

    If you're into working 50+ hours a week with little-to-no compensation, I'd like to let you in on a little secret.

    • 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 a year)

    Pros

    My co-workers. Honestly, there are so many great people that work in our office and we're all slowly killing ourselves just to get by.

    Cons

    Everything else. I have been in the mortgage industry for over a decade and have never worked for such an unorganized company.

    Advice to ManagementAdvice

    Uh...read these reviews and take notice. They're out there for the world to see, and with good reason.

    Stonegate Mortgage will be lucky to last through 2016 if the company continues on the path it is currently on. Success starts internally, not externally. For a company that wants to expand, the number one priority at SGM should be employee satisfaction, and it simply is not.

    Stop promising and start doing, or expect your turnover to be even higher than it already is.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 10 people found this helpful

    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

    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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 4 people found this helpful

    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)

    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 ManagementAdvice

    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!!!!

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6. 3 people found this helpful

    Avoid this employer

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

    I worked at Stonegate Mortgage

    Pros

    Great smart people work here. Learning environment.

    Cons

    Management is clueless. Too many svp's and vp's. All have their own agenda. New regions all do the same work differently. Employee morale is zero

    Advice to ManagementAdvice

    Everyone at this company is terrified of speaking up due to retaliation. Its rampant at Stonegate.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful

    Greed and Egos

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

    I worked at Stonegate Mortgage

    Pros

    Before they went public the small SGM was great! People were nice, management was more approachable.

    Cons

    Ever since they went public, greed, egos, mouse trap is where my interest died.

    Advice to ManagementAdvice

    Treat your teams better, no yelling, let the employee know there job is not in danger. Everything there seems so negative.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 8 people found this helpful

    Average company, average pay

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Stonegate Mortgage

    Pros

    Fairly flexible schedule, time off

    Cons

    Company in constant flux, no communication, uninvolved and uninterested management, poor leadership choices

    Advice to ManagementAdvice

    Teach management how to manage.

  9. 5 people found this helpful

    My advice.....DON'T TAKE A JOB HERE

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

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

    Pros

    The only thing positive I can think of....if you're trying to advance your career & only stay a short time, this churn & burn factory might work for you in the short-term BUT you may have to kiss some behinds big time to get there.

    Cons

    Benefits are way too expensive. Time-off bank is low & they expect you to work crazy hours anyway so it's hard to take. The culture here has definitely slipped tremendously since a couple yrs ago. It's a churn & burn factory now & you have to kiss butt big time to get anywhere. The processes & organization are pretty much non-existent & they don't do things that 'make-sense'. The entire employee base is getting really frustrated & more & more people are leaving due to stress & just plain giving up trying to change things. It seems the company is going down the tubes fast. Stay clear!

    Advice to ManagementAdvice

    Um.....speechless.....really. Quit living in a box & realize you have major issues at your company. You need to get internal processes & systems that actually work & quite hiring your friends & who you like. Respect people for the skills & experience they bring & actually listen to the contributors. A small group of people at the top can't run a company of this size by themselves anyway. IT'S CALLED TEAM. Reward people for good work & stop running over the good people because if you would stop & notice the good ones are leaving in droves anyway out of frustration. Eventually you'll run out of people to hire at this rate.

    I am truly disappointed in my experience at your company, sorry to say.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 6 people found this helpful

    Work you until you drop....literally.

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

    I have been working at Stonegate Mortgage

    Pros

    Upper management in the office is nice. They give you the tools to get the job done.

    Cons

    In the last 30 days we've had two underwriters who've had to leave the office in an ambulance because they were having chest pains/heart problems. One was concerned he actually had a stroke. It wasn't a stroke but it was still VERY serious. Everyone is sooooo stressed and overworked it's hurting their health. To stay on top of your work you need to work min 10hrs a day and take your laptop home and work a couple more hours. The incentives are terrible. Goals are set way too high. Mngrs at the office level are great but they are being forced by those at corporate level to impose these terrible stressful conditions. If you want to keep a personal life, spend time with family outside of work....THEN DONT WORK HERE.

    Advice to ManagementAdvice

    Stop promising us things will change and telling us "we've all been here before". You lost 2 out of 3 UW mgrs in the last month and multiple employees because people are getting burned out. A lot more people are looking for work elsewhere and may be leaving soon also. Wake up and care more about the lower level people are doing the brunt of the work so you can make more money.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 4 people found this helpful

    Loan Officer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Officer in Los Gatos, CA
    Former Employee - Loan Officer in Los Gatos, CA

    I worked at Stonegate Mortgage

    Pros

    Good intentioned company, Kind support staff. The pay plan is generous, but if you're selling jumbo loan ...good luck.

    Cons

    From a lending perspective in a jumbo marketplace Stonegate Mortgage isn't competitive from a product, pricing or timing to fund perspective. Of the 40 or so employees hired in Northern California in 2014, less than 10% remain. Those that are still working for the company sell conforming loans and they really benefit from the high pay structure.

    This is an Indianapolis-based lender that has no business being in a jumbo market.

    Advice to ManagementAdvice

    Reduce pay structure and make loans more competitive. Increase support staff needed to fund loan in a timely manner. Add competitive products to serve the local market...or stick to conforming markets!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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