Guaranteed Rate Reviews | Glassdoor

Guaranteed Rate Reviews

Updated June 21, 2017
401 reviews

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Full-time Part-time

3.3
Star Star Star Star Star
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Guaranteed Rate President and CEO Victor F. Ciardelli III
Victor F. Ciardelli III
286 Ratings

401 Employee Reviews

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Pros
  • Optional work from home (I am never in the office) (in 19 reviews)

  • Innovative "POD flow" processing, tons of support, marketing, literally everything a Loan Officer needs to be successful in a competitive industry (in 21 reviews)

Cons
  • The loan officers put all the work on their team and in return take home all the money (in 35 reviews)

  • Upper management did absolutely nothing about the vulgar language and sexist jokes from co-worker though they were told about it (in 13 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (3)

    "Solid Employer, Good Benefits, Values Hard Work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Appraisal Desk in Chicago, IL
    Current Employee - Appraisal Desk in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Guaranteed Rate full-time (More than 3 years)

    Pros

    TONS of room for expansion and career advancement. Solid benefit structure. Work hard, think outside the box and you'll rise quickly. This is a great company to get in on the ground floor and start a career at. Great rooftop and almost monthly employee appreciation parties. Very fair compensation once you prove yourself. However, by far the best part of this place is the culture. Very modern and laid-back vibe and I've made lifelong friends at this company. Overall, I've had an extremely positive experience here.

    Cons

    Overtime pay could be better and the summer hours can be long, but that is to be expected at a company producing funding billions of dollars in loans a year.

    Advice to Management

    Maybe look at a restructuring the overtime pay a bit. Other than that I've got nothing that bites at me terribly.

    Guaranteed Rate Response

    Jan 5, 2017 – Customer Success

    We appreciate your feedback. We try to cultivate an environment that enables growth and rewards excellence. We are happy to hear you appreciate the opportunities for advancement. Thank you for ... More


  2. Helpful (3)

    "Good Opportunity for Growth and Development"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Manager in Chicago, IL
    Current Employee - Account Manager in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Guaranteed Rate full-time (Less than a year)

    Pros

    reasonable salary
    a lot of opportunity for growth
    license reimbursement

    Cons

    Relatively new part of the company. Still working on process and has some kinks
    Need more account managers to handle increase in service requests

    Guaranteed Rate Response

    Jun 7, 2017 – Customer Success

    We agree that Guaranteed Rate provides excellent opportunities for employees to grow within the company and continuously develop their skills through our extensive training programs. We are ... More

  3. Helpful (1)

    "Operation Assistant was just one job"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Assistant in Chicago, IL
    Former Employee - Operations Assistant in Chicago, IL
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Guaranteed Rate full-time (More than 3 years)

    Pros

    Open floor plan
    Rooftop patio
    Theme office parties
    On-site nurse practitioner

    Cons

    OA's are asked to do a lot, but with little to no incentives or compensation
    High turnover
    You have to be tough skinned, because co-workers will try to talk down to you.

    Advice to Management

    Respect goes a long way. Pay your OA's, and watch the quality of work shoot through the roof. Everything else is great.


  4. Helpful (5)

    "OK Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Negative Outlook
    No opinion of CEO

    I worked at Guaranteed Rate full-time (More than a year)

    Pros

    Pros: Cafe at HQ is convenient.

    Cons

    PTO is poor, very high employee insurance costs. Comp plan not very competitive.
    Company has very high turnover across the board. If you're not in sales go elsewhere.

    Advice to Management

    Focus on employee retention.


  5. Helpful (2)

    "Loan Originations"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in Roseville, CA
    Former Employee - Branch Manager in Roseville, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Guaranteed Rate full-time (More than 3 years)

    Pros

    Good product mix and marketing is exceptional.

    Cons

    No sense of team work between sales, ops and UW. I had the misfortune of getting snapped at when asking questions by other department heads.

    Advice to Management

    Practice a little humility, don't be so manipulative and don't micro manage.

    Guaranteed Rate Response

    Jun 8, 2017 – Customer Success

    We appreciate you taking the time to provide feedback and realize that every individual has a unique work experience dependent on role and responsibilities within the organization. Communication and ... More


  6. Helpful (1)

    "Guaranteed Rate a good place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Remote, OR
    Current Employee - Anonymous Employee in Remote, OR
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Guaranteed Rate full-time (More than 5 years)

    Pros

    Plenty of work and overtime available

    Cons

    Company lays off right before the Holiday season

    Advice to Management

    none


  7. Helpful (1)

    "Great company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Consultant in Schaumburg, IL
    Current Employee - Mortgage Consultant in Schaumburg, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Guaranteed Rate full-time (Less than a year)

    Pros

    -Ops team is much younger than what i'm used to but it is a nice change.
    -Every person I've talked to is very knowledgeable about their respective job. Cant say that about previous companies
    - Very relaxed work setting
    - Friendly Staff
    - Lots of interactive fun staff parties/events
    - Flexible
    - Extensive Trainings
    - Approachable management
    - Nice to feel like they truly care about their employees

    Cons

    - Bullpen desk set up are very new to me. I would prefer a cubicle but I get what they are going for. I'll get used to it
    - Extensive online live webinar trainings but very little one on one training on the specific job. I've seen others get more hands on training so maybe its just due to my background or time I started. Wasn't a big deal as i am a fast learner.
    - Much more of an "on call" type position then I'm used to. Cut off time set by management is not usually enforced which then requires you to work until that file is done to meet RESPA regardless of your in office hours or outside obligations.
    - Insurance is expensive

    Advice to Management

    Not much. I love it here and am very happy to have made the switch to GR. Only thing that irk's me sometimes is the allowed submission of same day files after 3 pm. I'm all for picking and choosing battles but there will likely be a time where an after cut off submission will be ok'd by management but I will physically be unable to disclose it due to prior personal engagement. I don't want this to reflect poorly on me because i am unable to complete it.

    Guaranteed Rate Response

    May 3, 2017 – Customer Success

    Thank you for taking the time to share. Guaranteed Rate is made up of highly trained individuals who do an excellent job of holding themselves and each other accountable. We are continuously using ... More

  8. "90 Days"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President of Mrotgage Lending/LO in Lakeland, FL
    Current Employee - Vice President of Mrotgage Lending/LO in Lakeland, FL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Guaranteed Rate full-time (Less than a year)

    Pros

    Team and Pod Attitudes Great

    Cons

    Underwriting Turn Times for CTC

    Advice to Management

    Need to improve Underwriting turn times for final submission to get CTC. 48 hours is way to long to clear just a few conditions!

    Guaranteed Rate Response

    May 11, 2017 – Customer Success

    We agree that our employees have great attitudes. Recently, we began a company wide initiative to decrease turn times within each step of the loan process.


  9. Helpful (8)

    "Mistrust, Micromanagement and Fear"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Guaranteed Rate full-time (More than a year)

    Pros

    Great colleagues, fast-paced atmosphere, close proximity to north side. Some fluff like free monthly happy hours and twenty minute massages if that's what makes you happy at work.

    Cons

    This is not a culture that values feedback, transparency, or mutual respect among its employees and its chief executive. The company is run through his own personal experience, therefore operations such as IT and marketing are reliant on meeting whatever his personal opinion is. Micromanagement at it's worst. As a result, internal cross-functional meetings are not focused on building a strategy based on customer needs or data, but what leadership might want at that particular moment in time. This cannot allow employees to operate to their best potential in their particular area of expertise and mostly, it breeds fear. And fear for a reason: during my time at Guaranteed Rate, many directors and executives were let go - we're talking 5 within months. Imagine the chaos this causes as more junior team members try to pick up the pieces of what they're supposed to be doing, while not making the same "mistakes" their predecessors/bosses made.

    There is little strategic planning, deadlines or other reasonable measures to be able to execute your job with any sort of predictability. Resources to be able to execute might be granted, or not, depending on personal experience instead of a building a predictable budget. Instead of a meeting to discuss your ask, you'll be asked to put the request in the CEO's inbox, or maybe someone in an entirely other functional area will be asked to execute the project that you're supposed to be working on. This also results in territorial behavior instead of the teamwork to work towards building something awesome.

    If you're on the fence about working here, you can easily find articles about Guaranteed Rate's approach to partnership and companies they've worked with in the media. The stories align.

    Advice to Management

    Learn how to motivate employees towards goals without fear, trust that you've hired the right people and give them the room to execute according to plans. Look at customer data, listen to employees and build products with that in mind. If you start trusting the "best of the best" highly qualified, thoughtful leaders you've hired, you'd already be a $50 B company.


  10. "VP, Integration Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Integration Manager in Chicago, IL
    Current Employee - Vice President, Integration Manager in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Guaranteed Rate full-time (More than 5 years)

    Pros

    Plenty of room for advancement for hardworking individuals.
    Customer-centric culture of putting the customer first.
    Managers that listen to critics and act

    Cons

    Chicago-centric organization
    Pay for performance, you need to prove yourself regardless of your skill level
    Transparent organization

    Advice to Management

    Talent exists outside of the Chicago market that can add to the culture and talent of Guaranteed Rate Inc.

    Guaranteed Rate Response

    Apr 11, 2017 – Customer Success

    We appreciate you sharing your feedback. Guaranteed Rate prides itself on putting the customer first as it is one of our core values, "Put the Customer First". We have a culture of professionalism ... More


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