National Events Manager (Current Employee), Chicago, IL – October 1, 2014
This is a great first job out of college! I work under great upper management and am challenged.The culture is young, unique, and fun. There is room for career advancement and I feel supported and encouraged to strive for that.
VP of Mortgage Lending (loan officer) (Current Employee), Utah – June 26, 2014
Pros: great rates are thier strength
Cons: inflated managment egos
When recruiting, they will promise how easy it is to work for them. Don't be fooled. It's no different and in some cases you need to do more. All loan officers are given title of VP which means nothing. Just a great sounding title. You must produce at high levels or you get threatened with termination. They have a "pick-a-pay" program where loan officers – more... can decide how much to get paid. The problem is that affects what rates you can give the consumer. If someone in the same office is willing to work for less, your client can call them and get a better rate. No continuity at all. Management all have inflated egos and are hard drivers. God forbid you get one complaint as they will be all over you - hey, this is the mortgage business where things sometimes don't go as planned.
The one good thing is they do have some of the lowest rates - especially if you find the right VP (loan officer) with a low "corporate objective". – less
Processor (Former Employee), chicago, il – April 22, 2014
Pros: chef, monthly massage and gym on site
Cons: pay, poorly treated
Horrible work environment. Young loan officers each given title of VP. The title provides inflated ego. Half of them do not have any experience. They treat processing horrible. Expected to go above and beyond. Processing figures the program, gathers all information from clients, sends doc packages out. If items are not returned, it is processing fault. – more... Pay is below average. Goals are unrealistic, unless you have a team of seasoned processors. You do not have an opener. As processing, you are basically originating, opening, pre underwriting and processing. – less
Associate Vice President of Mortgage Lending (Former Employee), Chicago, IL – March 8, 2014
Pros: great office facilities, great management
Cons: relatively low compensation, low job security as is nature in the industry
Guaranteed Rate had a good work atmosphere because of the people that work there. It is a great team atmosphere that is conducive to productivity and an enjoyable work experience. It is well run from top executives down to the managers.
Senior Loan Processor (Former Employee), Carlsbad, CA – February 10, 2014
Pros: customer satisfaction
Cons: declining loans
A typical day at work consisted of; Prioritizing my work for the day/week, returning phone calls, taking care of fundings, satisfying conditions on my approvals, working on new applications, contacting customers for missing information on loan application, updated paystubs, asset statements or whatever I needed at that time. We were responsible for – more... the analyzing our customer's income and credit before the loan was submitted to underwriting. Meeting strict deadlines. I regularly worked with title, escrow, appraisal company and credit vendors to get the job completed. The management was very supportive and wonderful. I had the support I needed and could go to them with anything. There wasn't much to say about my colleagues, we all kept very busy and sat in cubicles. Our office was very quiet. Everyone was pleasant and got along well. We worked on teams in the beginning of my employment, but after a while it worked out better just one processor per pipeline. The hardest part of the job was contacting customers if they did not qualify for the loan. My main objective was to save them money by lowering their payment and if they were in a bad situation and did not qualify that was a tough phone call to make. The most enjoyable part of my job, as with any job is regular contact with my customers and the positive feedback I would get from them. Keeping them happy made all the hard work worth it. – less
Good place to work and enjoyed cross training with others
Condominium Underwriter (Former Employee), Schaumburg, IL – January 28, 2014
Pros: various loan products were used.
Cons: how weather and natural disasters impact business.
Warranting condominium loans in the northeast part of the United States. Understanding the purchasing habits of people that reside in the New York/Boston metropolitan area. Co-workers were great and I learned a lot. Dealing with natural disasters such as Hurricane Sandy and how it impacts business. Dealing with various bankers.
THERE IS NO JOB SECURITY FOR WORKERS, TOO MANY MANAGERS
Conforming Agency Mortgage Underwriter (Former Employee), Chicago, IL – January 23, 2014
Pros: corporate has a few perks, some can work from home remotely
Cons: too many managers, too many audits, accountability is not given to those that deserve it.
They just decided to do a massive layoff. Some found out from "word of mouth". Cold and calculated, they laid off some of the best and brightest workers. Good luck for any of us finding a job any time soon. Told it was nothing personal, however none of the loan officers that turn in garbage loans seem to have been affected. Those let go treated with – more... no respect. The employees mean nothing except for the VP's. Almost everyone else is subject to disrespect and treated like dirt. – less
Mortgage Underwriter (Former Employee), Schaumburg, IL – October 15, 2013
Pros: work from home, friendly people supportive of family life balance
Cons: hard to get support being remote
Daily pipeline of loans supplied from POD. Underwriting and due diligence of mortgages loans. Supported closers, coordinators and loan officers in loan originations. I learned a lot about Encompass, FNMA and FHLMC guidelines. Also learned HARP product underwriting. Hardest part of job is not knowing what will come into your queue from one day to the – more... next. Made it difficult to balance the work load and stay on top of volume levels. Enjoyed working with the people there and having capability to work remote. Free to make decisions and operate independantly. Good experience. – less
Business Development / Loan Coordination (Former Employee), Minneapolis, MN – September 23, 2013
Cons: see above
I was hired to do a very specific job for a high-end loan originator who in turn was brought into the organization for very specific reasons. From the beginning he was lied to, as documents and emails in writing as part of the terms of hiring us were ignored and forgotten by corporate. Additionally the tools promised us were denied, and in turn our – more... promised salaries were not paid. A few short months after bringing us in, the one tool we designed with corporate was taken and most of us laid off. In addition to the problems at the corporate level, the local level management was derisive and condescending to all employees. Avoid this joke of a company if at all possible. – less