Senior Loan Processor (Former Employee) – Carlsbad, CA – February 10, 2014
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 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.
Commissions Specialist (Current Employee) – Chicago, IL – December 5, 2017
Management is unorganized and unhelpful. They do not have time to clarify on anything. they are so busy that you are required to learn as you go by yourself. they then get angry when you do not submit your work to their standards.
Mortgage Specialist (Former Employee) – Chicago, IL – December 1, 2017
It is the most cut throat part of the mortgage business that you could be in. I was at another mortgage company before Guaranteed Rate and I was told how they had a huge data base full of people who needed help and are ready to move forward with an amazing process to get the loans closed. I did better than I did at my old company, but the pay and hours wear way worse. They want you to meet daily objectives which can be unrealistic, but they do it so you stay long so you end up with 10 to 12 hours a day. This leads to a huge amount of turn over because the pay doesn't make sense for the amount of hours that you are putting in. All that said I knew it would take a good amount of time to get up and running so I saw it through. I had loans in my pipeline and needed to trust the process they had put in place which was not so amazing. Everyone who works on the loans seems to be newer and keeps asking for the same document that we already had in the file. This lead to missed closings and upset clients. Overall the company has a lot of foundation building to do and they needed give the employees a good work life balance with the pay to match.
Roof top parties and good colleagues
pay, work-life balance, processing, stress, clients are being call 10 times a day.