Guaranteed Rate Mortgage Loan Officer Reviews | Glassdoor

Guaranteed Rate Mortgage Loan Officer Reviews

Updated Jan 10, 2019

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Found 11 reviews

1.9
StarStarStarStarStar
Rating TrendsRating Trends
18%
Recommend to a Friend
30%
Approve of CEO
Guaranteed Rate CEO Victor F. Ciardelli III
Victor F. Ciardelli III
10 Ratings
  1. "VP of Lending"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer in Parsippany, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Guaranteed Rate full-time for more than 3 years

    Pros

    Technology, Culture, Compensation, team Environment, Very few or almost no guideline overlays, Underwriting is tremendous!

    Cons

    Still the mortgage business. Daily challenges but GR gives you tools to grow.

    Advice to Management

    Slow down a bit sometimes. Company is growing and changing like crazy.

    Guaranteed Rate2018-09-28

    Guaranteed Rate Response

    September 28, 2018Customer Success

    Thank you for taking the time to leave a review. We are so glad to know that you love the GR Culture and our innovative technology. We appreciate your feedback and have shared it with the appropriate parties! We appreciate you!

  2. Helpful (22)

    "Most of these reviews are fake. The CEO is the non-racist form of President Trump."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Guaranteed Rate full-time for more than a year

    Pros

    Cafeteria people can be pretty cool (except they do not wear gloves when serving the food.) Rooftop parties are fun (usually cliquey groups and attempts to distract you from the awfulness of the company; really, the parties are brainwashing events.) Company does give back to the community, which is the company's attempt at hiding their deceptive practices. You will meet some cool people, and you will want to hold these...

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    Cons

    Where to begin? Victor is a huge liar and con artist, as are most of the executives and loan officers, so I will do my best to summarize this: 1. Company turnover rate is over 50% (A number like this are usually those of a pyramid scheme.) 2. Harassment occurs religiously. You will be harassed and shamed for smiling, doing well, being innovative and entrepreneurial, being better than the favorites in the company,...

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    Advice to Management

    You will do your typical copy-n-paste, but in the case you do type something original, just know that this company is sinking. You are destroying the lives of people just to become number one. Guaranteed Rate is a criminal organization due to your actions. Congratulations on becoming The Trump Organization!

    Guaranteed Rate2019-01-11

    Guaranteed Rate Response

    January 23, 2019Customer Success

    We are always looking for ways to improve our company as a whole, and by giving us your feedback that's something we can continue to do. If you are still employed at GR, please do not hesitate to reach out to your HR representative. We wish you much success.

  3. Helpful (27)

    "A Rapidly Sinking Ship- Downright unacceptable"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Guaranteed Rate full-time

    Pros

    Literally nothing is good about this place. Some people might say the food is cheap at the cafe but the quality is horrific and the people making the food are rude as can be. I would give this place negative stars if it was possible.

    Cons

    This place is a hellish nightmare of catastrophic proportions. They are known for recruiting people with promises of making big bucks but it’s a lie. One week into the mortgage associate position they switch your hours without Your approval and make you work 12 Hour shifts. Their overtime scheme is just that: a scheme that enables them to pay you less than minimum wage for Over time work. The environment is so incredibly...

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    Advice to Management

    Fire yourselves. You have done great harm to employees and clients alike. Your organization is unacceptable and you should be out of business. Stop deceiving people and ruining their careers. And for the record, your company name SUCKS. Not sure who thought of that but as a mortgage originator, I know your rates are seldom if ever guaranteed.

    Guaranteed Rate2018-06-28
  4. Helpful (15)

    "VP Mortgage Lending"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in Portland, OR
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Guaranteed Rate full-time for more than 10 years

    Pros

    Technology, Programs, Training Program, Trainers, Communication

    Cons

    Poorly treated support staff which is the magic of a successful transaction. Managers had ZERO empathy for LO's with less than $3M a month in production. Processors were treated like machines. Don't get me wrong- GR has some excellent leaders but in my experience, the Portland Division has a poorly ran management group in place. My first 90 days- my transition team in Chicago was awesome and then after that- the local...

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    Advice to Management

    You are growing fast- too fast. Read what the support staff is sharing with you and hold the Regionals and Branch Managers to some accountability on creating a team. Producing managers that steal clients and steer support staff toward their marketing and own production will sink a sailing ship.

    Guaranteed Rate2018-05-15

    Guaranteed Rate Response

    May 15, 2018Customer Success

    Thank you for taking the time to provide your feedback. We are saddened to hear we did not meet your expectations. We value and consider all feedback, as this will only help us continue to become a better company. Thank you again for your feedback and we wish you much success ...

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  5. Helpful (26)

    "An American Sweatshop"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Guaranteed Rate full-time for more than a year

    Pros

    Nothing, the company is as bad as the negative reviews make it seem. Employees are miserable. Nobody deserves to be tricked into working for this sad excuse for a company. I once accepted a job here with high hopes and dreams of being a successful mortgage loan originator but I soon found out the company is a scam that manipulates and deceives hard working people. Run far away and never look back. Trust the bad reviews.

    Cons

    Pay sucks, benefits are expensive, they cut corners, they are cheap, morale is terrible companywide, etc. They force you into working 12 hour days without getting adequate pay. They lie and say you’ll make a certain amount of money but it turns out they pay less than minimum wage. They make you work Saturdays too. They try to scare you into staying there through empty threats. They try to withhold paychecks which violates...

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    Advice to Management

    Just close down already. You’ve been scamming employees and clients for far too long.

    Guaranteed Rate2018-06-19

    Guaranteed Rate Response

    June 26, 2018Customer Success

    Thank you for taking the time to leave a review. We appreciate your feedback.

  6. Helpful (25)

    "HEED THIS WARNING!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Guaranteed Rate full-time for more than a year

    Pros

    Honestly not much to say here. They have cheap lunch and it is a cool location but that’s where it ends. If you read nothing more make sure you read this: STAY FAR AWAY FROM GUARANTEED RATE

    Cons

    I’m gonna keep this real since Guaranteed Rate likes to blatantly lie to prospective employees. Without further ado here are my 13 reasons why NOT to apply to guaranteed rate: 1- they say you’ll make 60-70k in a year. FALSE! They pay you a measly salary for 4 months and then it plummets to less than minimum wage. It takes a long while to build a pipeline which means you won’t get much commission. Also November-February...

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    Advice to Management

    You got your work cut out for you. Listen to what we have to say. Otherwise I bet your doors will be closed within a year. This was by far the worst company I have ever worked for. Completely appalling and unacceptable behavior from managers. Thanks for an absolutely horrible experience!

    Guaranteed Rate2018-06-04
  7. Helpful (14)

    "Total scam"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Guaranteed Rate full-time for less than a year

    Pros

    Occasional lunch (maybe twice a year)

    Cons

    Mortgage specialist Position is not what they make it out to be. You are basically a telemarketer. They make you work 10+ hour shifts and they pay next to nothing. The company is built on lies, manipulation and fear. Good luck getting an accurate paycheck cause they screw up all the time. The company is cheap and bare bones. Employees get treated like they’re expendable. Management is rude, clueless, and dishonest. This...

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    Advice to Management

    Listen to employees and be transparent. Don’t lie. We deserve to be paid more

    Guaranteed Rate2018-05-02

    Guaranteed Rate Response

    May 10, 2018Customer Success

    We are sorry to hear your experience thus far at Guaranteed Rate has not been what you expected. As a company, we value transparency and embrace constructive conflict and criticism in order to learn and grow. We encourage you to speak directly to your manager or HR about your concerns.

  8. Helpful (10)

    "Stick to retail model"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in Irvine, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Guaranteed Rate full-time for more than a year

    Pros

    Pricing is decent but you get charged for every mistake

    Cons

    They do not understand the consumer direct model and never will due to egos. They come in and bash leaders in the space like Loan Depot and Quicken. How they are going to do it better but then don't buy leads. The problem is all of us missed the brexit rally and clearly huge income opportunities like other OC call centers. Now market has changed and money gone forever. They really have no clue and I wish I would have...

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    Advice to Management

    Listen-do you think the management (all left now) lasted 12 years in one location in the consumer direct business by accident?

    Guaranteed Rate2017-03-11
  9. Helpful (1)

    "Great collaborative culture and training for beginners"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Guaranteed Rate full-time for less than a year

    Pros

    I came very green into the mortgage business and learned everything to get started and continue to grow and flourish. The management team has been extremely supportive and all of the seasoned LO's are always ready to help. There is a specialist for every type loan handled here and a can do atmosphere. I was skeptical initially after leaving a salary job for one that is a commission based, but trust me financially its...

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    Cons

    I haven't found any yet.

    Advice to Management

    Add more trainers to help the training manager out. He's spread pretty thin.

    Guaranteed Rate2016-12-22

    Guaranteed Rate Response

    January 5, 2017Customer Success

    Your feedback is greatly appreciated. Our most valuable resource is our employees so we invest in the training & support to help them achieve both personal and career goals. Best, Customer Success Team

  10. Helpful (7)

    "not great"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in Tampa, FL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Guaranteed Rate full-time for less than a year

    Pros

    Expected to do other people's jobs for them when they are paid much more income than you and it's not your job. Asked to sign in under other people's logon's to perform segregated tasks designed to protect for compliance reasons. No thank you....was not going to do that!

    Cons

    expected to be on-call 24/7 even though not a LO and also expected to use personal cell phone again, even though not an LO. Ridiculous and no work/family balance was allowed.

    Advice to Management

    You'll keep burning through employees until you treat them with respect and start doing your job.

    Guaranteed Rate2016-10-28

    Guaranteed Rate Response

    November 3, 2016Customer Success

    We appreciate your feedback. At Guaranteed Rate, our employees are our most valuable asset. The skills, hard work, and commitment of our employees differentiate Guaranteed Rate in the marketplace. We do hope that our people take full advantage of sharing any issues, ideas, and suggestions ...

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Found 11 reviews