Guaranteed Rate Employee Reviews

Showing all 59 reviews
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Great place to grow in the mortgage business
Mortgage Loan Officer (Current Employee) –  Chicago, ILDecember 22, 2016
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 worth it
Pros
great team atmosphere, great company events
Cons
none yet
Was this review helpful?YesNoReport
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Cool
Systems Support Administrator (Current Employee) –  Chicago, ILJanuary 14, 2017
Overall great school and my time there was pleasant. I left because they offered no advancement or opportunities for a raise. About par for most schools.
Was this review helpful?YesNoReport
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Fun but no place for advancement, and awful benefits/ pay
Marketing and Business Development Assistant (Current Employee) –  Chicago, ILSeptember 18, 2016
Great and fun place to be at. People are awesome and enthusiastic. But, it is no place to grow, basically they do NINJA loans, and they have some of the worst health benefits I have ever seen.
Was this review helpful?Yes5No1Report
Official response from Guaranteed Rate
September 26, 2016

We appreciate your feedback. We will take it into consideration as we strive to improve. Our benefits program is designed to offer employees the flexibility to select benefits that best suit individual needs and goals. These options reflect Guaranteed Rate’s dedication to its employees. Cheers, Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Fun Work Culture/ Low Pay, Long Hours 1/2 OT
System Support Administrator (Former Employee) –  Chicago, ILAugust 22, 2016
Worked for GR for about 2 years IT. Worked day in and out, early morning and very late nights that did not pay off. Dedicated extra time off work hours to the job only to be misled about my performance and cut when things got bad in the department after i stayed during mass termination and dedicated late hours and weekends to them. What a way to show your support guys!
Great culture with free parties after work (Flat beer and finger food aka leftovers). Great job for entry level kid, but overtime is half pay...YES half pay, hours are long and very demanding and pay is below competitors. No job security!!

i would not recommend working here if your looking for a career, good entry level company to get your feet wet.They do not appreciate you unless your a SA or VP in lending, any other position prepare to slave for them.
Pros
Free parties, nice roof deck
Cons
Low pay, Job security, Bad Management, No Parking, Late Hours, Halftime OT
Was this review helpful?Yes10NoReport
Official response from Guaranteed Rate
August 26, 2016

We appreciate you sharing your experience as we strive to continuously improve in all aspects of the company. We encourage our employees to take advantage of the open-door policy to share their thoughts with managers, human resources, and senior leadership. We take all types of feedback seriously and have shared your comments with the appropriate personnel.

Cheers,

The Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Great work atmosphere and culture of career advancement within company
Appraisal Relationship Manager (Current Employee) –  Chicago, ILDecember 23, 2016
I have learned so very much in my time here at the company and have had nothing but encouragement from every aspect of management. Every day that you spend at the company gives you more opportunity to learn about another aspect of the company and the mortgage lending business in general. Not a day goes by that I don't learn something new and then can implement what I've learned moving forward. I have already been given opportunity to advance up the corporate ladder in my short time with the company. Management at every level puts more stock into the quality of the work that they believe you are capable of instead of just finding a place for you to mindlessly input data. This is an incredibly supportive work environment and there is nothing other than encouragement to be the best possible employee and member of the team. On top of all of that, this a very inclusive company and a normal day is full of laughs and smiles.
Pros
Great work culture and many corporate office amenities
Cons
Possible arduous workloads during peak seasons of the year.
Was this review helpful?YesNoReport
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Moved from Chicago - was a temporary job
Appraisal Coordinator (Former Employee) –  Chicago, ILOctober 20, 2016
Guaranteed Rate - specifically the appraisals department was under new management and in shambles when I arrived. I had relocated back to Chicago for a period of five months, and was offered the opportunity under false pretenses. Everything about the job was misrepresented and blatantly lied about. I completed three months of employment as a courtesy before relocating to Incline Village, NV.

I worked 11-13 hour days for little to no pay, their 'overtime' is actually illegal and is being audited.

Like I said, I needed a job for a few months before I moved from Chicago, and cleaning toilets would have been a better one than Appraisals Coordinator for Guaranteed Rate.
Pros
None
Cons
Everything
Was this review helpful?Yes5No1Report
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
This place is for college graduates
Secondary Marketing Analyst (Current Employee) –  Chicago, ILMay 30, 2016
The pay is horrible unless you are working as a loan officer or sales assistant. They throw many parties to compensate for the terrible pay and benefits.
Pros
parties
Cons
terrible healthcare, low pay, no support from management
Was this review helpful?Yes8NoReport
Official response from Guaranteed Rate
June 13, 2016

We appreciate your feedback. Guaranteed Rate offers competitive pay, and benefits. We value our employees and know they are our number one asset.- Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Remote offices are employee beware
Mortgage Consultant (Former Employee) –  Pittsburgh, PAJanuary 30, 2017
You are at the mercy of the mortgage loan officer and his/her moods as to whether or not your day will be manageable or will be full of unreasonable deadlines. Research your loan officer before agreeing to work with one. Company cares about sales people not office support.
Pros
Pay
Cons
No management support when faced with hostile work environment
Was this review helpful?YesNoReport
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Excellent Work Place
GFE Desk Coordinator (Former Employee) –  Chicago, ILMarch 30, 2016
Very professional company to work for. Management is very understanding and easy to communicate with. I was able to gain valuable knowledge in the real estate field.
Pros
Benefits
Cons
Distance from home
Was this review helpful?Yes5No1Report
Official response from Guaranteed Rate
April 4, 2016

We are glad to hear that you were able to gain knowledge at Guaranteed Rate that will help you in your future endeavors. It is important to us to help our employees reach their goals. Thank you for the review! Cheers, - Customer Success Team

Official response from Guaranteed Rate
April 11, 2016

We appreciate your feedback and are pleased to hear about the knowledge you gained while at Guaranteed Rate! Cheers, The Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Loan Originator
Vice President of Mortgage Lending (Current Employee) –  Scottsdale, AZJanuary 22, 2017
Establishing and originating loans via telephone throughout 8 states. Hawaii, Oregon, Washington, California, Arizona, Nevada, Texas and Virginia.The environment is a team setting to manage originating, and pipeline management up until closing.
Was this review helpful?YesNoReport
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Bad Management
Mortgage Closer (Former Employee) –  Chicago, ILJanuary 20, 2017
Very bad management with employees but pay was good. Terrible training and work environment was not good. Hours are bad also.
Was this review helpful?YesNoReport
Official response from Guaranteed Rate
January 26, 2017

Your feedback is appreciated. At Guaranteed Rate, our employees are our most valuable asset and we encourage all employees to discuss ideas, suggestions, and issues with any member of our Management or Human Resources team.Sincerely, The Customer Success Team.

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
A fast growing company with a great culture
Business Development/ Marketing Coordinator (Current Employee) –  Chicago, ILSeptember 20, 2016
A typical day for me is helping my loan officers continue to grow their business by creating marketing pieces, maintaining relationships with their referral partners and clients, planning and hosting events and other administrative tasks.
I work alongside a lot of great people that are constantly helping me continue to grow in my abilities. We also feed off each others ideas to help bring the maximum growth to our loan officers. That is certainly the most enjoyable part of the job.
Was this review helpful?Yes1No1Report
Official response from Guaranteed Rate
September 26, 2016

We appreciate you sharing your experience. At Guaranteed Rate, we are proud to promote a culture that allows employees to grow professionally and personally. It is our endeavor as a company to deliver results with the help of our exceptional talent. Once again, thank you for your feedback as we will consider it to continue to cultivate an environment in which our employees can excel. Cheers, Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Tbd
Operations (Current Employee) –  Chicago, ILAugust 14, 2016
It was a good company to start with right out of college, and depending on what department you worked in there was some room for growth. They like to promote a healthy work-life balance, however, this varies depending on what you do for the company and what department you are in.
Was this review helpful?Yes6No2Report
Official response from Guaranteed Rate
August 18, 2016

We appreciate your feedback. Our core values promotes a healthy, balanced environment while continuing to strive for excellence. We are happy to accommodate both individual and career development. Once again, thank you for sharing your experience with Guaranteed Rate.

Cheers,

Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Over stresses and under payed
Customer Service (Former Employee) –  Schaumburg, ILFebruary 5, 2016
Strictly driven by a couple sales team. God bid you disagree with sales or management. Company only interested in closing loans regardless of the quality of the borrower
Pros
None
Cons
Poor benifits and work environment
Was this review helpful?Yes13No2Report
Official response from Guaranteed Rate
February 17, 2016

Guaranteed Rate prides its self in Customer Service and takes it very seriously. One of our main core values is "putting the customer first". We appreciate the feedback as we continuously strive to be the best in the industry and make Guaranteed Rate a better place to work.
- Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Borderline Illegal
Grunt (Former Employee) –  Chicago, ILAugust 9, 2016
GR is a very shady company. Their overtime pay is actually illegal - they call it 'flex pay' or something like that and it equates to about 3 dollars an hour.

Despite experience or qualifications, pay is entry level almost across the board. it is common knowledge that Guaranteed Rate pays well below industry standards.

Salaried positions often work 11-12 hour days..but hey Overtime Right!!???? - yea... 9 dollars per day on average when you work 11-12 hours.

They pay their employees peanuts, but try to keep everyone happy by offering employees a free drink after work every once in awhile.

If you are a recent college grad, its not a bad first gig but anything other than that - RUN.

Management is sloppy and disorganized, as is the hiring process. Nothing works well at GR, no department is effective.

Extremely high turnover rate either from being fired due to challenging a managers ego, or becoming fed up with the garbage pay and long hours.

It is a very cutthroat company and its easy to see why it is so profitable - the lower 80% of the company makes the stockholders and upper management real fat.

The work is extremely repetitive and soul crushing, but hey... picnic on the roof from 5:30 - 7:30!!! AND THERE'S A GYM!!!!! (The gym is a closet sized room with two treadmills - oh and you can't use it as you will never have the freedom from your workload to use it. Most people are punished for taking a full lunch break)

If you have any dignity or self respect, take any other job with any other company.

The Loan Officers do well financially, and almost
  more... all of them are drug addicts.

They treat their borrowers like trash after they have them locked in and often sell their loans without notice.

I was lied to about the responsibilities of the job and lied to about what the work I would be doing would be.

I would have quit immediately after my first day, however I took the job knowing I would be leaving after a few short months.


RUN!!!!!!!


It is funny to laugh about their mass-produced responses to any critique they receive on reviews or social media.. Yea call their customer satisfaction dept.. that'll fix everything!!!!!
  less
Pros
Open work environment... like usually you aren't in a cubicle
Cons
Literally everything you can think of
Was this review helpful?Yes13NoReport
Official response from Guaranteed Rate
August 10, 2016

Thank you for your feedback. We do appreciate your input and sharing your experience working at Guaranteed Rate. We are sorry to hear you didn't feel fulfilled in your position with the company. Our goal at Guaranteed Rate is to strive to provide a culture that promotes professional and personal growth. Again, thank you for your feedback.

Cheers,
-Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Productive, fast paced, rewarding
VP of Mortgage Lending (Current Employee) –  Nashville, TNSeptember 19, 2016
A day at Guaranteed rate is always very busy yet rewarding. Great training program and great management who is always willing to help. Overall its a great company to work for.
Was this review helpful?YesNo2Report
Official response from Guaranteed Rate
September 26, 2016

Thank you for your feedback. We appreciate you sharing your experience at Guaranteed Rate. Our employees are one of our most valuable resources and we strive to support their growth both individually and within the company. Cheers, Customer Success Team

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Productive & fun workplace
Marketing Coordinator (Former Employee) –  Chicago, ILJanuary 31, 2017
Loved every minute of working at GR--coming to work, being at work, talking to others about work--and would return in a heartbeat if offered to
Was this review helpful?YesNoReport
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Do not work for guaranteed rate- bad company
Loan Coordinator (Former Employee) –  Atlanta, GAJanuary 9, 2015
DO NOT WORK FOR THIS COMPANY..... They are unprofessional and will mislead you in every way possible. The management style is poor. The compensation is very low and there's no support. I would highly recommend you to not take a position with this company. I was there for a while and didn't meet a single LO, LC, MS, etc that was happy or was able to do their job at Guaranteed Rate. The Atlanta Branch is specially dysfunctional. The benefits are so expensive 380 dollars a month because it is a private company. Also Overtime for operations positions is paid in a very unusual way to were you only get a small calculation they have sometimes you could work 20 hours of overtime and get 60 dollars. I

This company is by far my worst experience. I would highly recommend you to ask questions and do a lot of research before taking a job. Layoffs happen monthly, people quit daily, loans are reassigned, not a pod flow.
Was this review helpful?Yes40No2Report
Official response from Guaranteed Rate
January 6, 2016

Guaranteed Rate is always working towards making it a great place to work. We have many ways in which we support our employees from the training department to the national support center. These departments are readily available for employees in all departments, and we always are looking for new ways to assist our staff. Our POD flow model is very different from other mortgage companies, and was designed to streamline the loan process. Your feedback is greatly appreciated.

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Working for a fast paced and growing company where upper management lets you take initiative and lets you write your own rules
Corporate Accountant (Current Employee) –  Chicago, ILJuly 24, 2013
Nice co-workers and relaxed environment.
Management is responsive when it comes to providing the tools to get the job done.
There are bi-monthly pizza parties and small year end bonus.
There are no written manuals and procedures so you are pretty much on your own - it`s your responsibility to complete your job in the most efficient way.

Pros
Corporate gym, flexible work time-depends on your manager, you are in control of your work day;
Cons
short breaks, punching in and out-despite the fact that you are exemp, extremely bad 401 K benefits matching, for every month of work you earn less than a day of vacation
Was this review helpful?Yes6No1Report
Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
Ok for some. Many not happy with the company. Not paid in the end
VP of Lending (Former Employee) –  Midvale, UTMarch 4, 2016
Local management did not care about any of my concerns, nor trying to improve the process. Everything was perfect in their own minds.

Process of closing loans is difficult, and frustrating. The 'Digital Mortgage' is miss-leading. It is an online application process, and a way to submit income documents through a website instead of email or fax. Nothing different than many mortgage companies.

If you want any of the leads from company advertising you must pay hundreds of dollars to company, and agree to take a smaller commission on all other closed loans

After leaving I was unpaid on commissions owned to me because of a technicality. They may be able to hold back commissions but it shows bad faith.
Pros
Many loan programs to offer clients
Cons
Not paid on closed loans. Expensive marketing for the loan officer
Was this review helpful?Yes19No1Report

Want to know more about working here?

Ask a question about working or interviewing at Guaranteed Rate. Our community is ready to answer.

Ask a Question

Overall rating

3.2
Based on 59 reviews
5 stars
4 stars
3 stars
2 stars
1 star

Ratings by category

Work/Life Balance
3.2
Compensation/Benefits
2.9
Job Security/Advancement
2.5
Management
3.0
Culture
3.2