Guaranteed Rate Employee Reviews

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Great Place to work but low pay and stressful
Loan Coordinator (Current Employee) –  Tampa, FLAugust 10, 2017
Guaranteed Rate was a good company to work for. The position I had requires little experience thus pays low and requires a lot of work hours. Its a great starter job but I was past that point in my career.
Pros
Great People
Cons
Management and work hours
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You get Licensed - That's where the dream ends
Mortgage Associate/ Loan Officer - IL (Current Employee) –  Chicago, ILAugust 7, 2017
The online division has no idea how to scale a business. All present leadership is from their biggest competitor Quicken Loans, and they are using the same training guide (literally the vp of sales left it on a desk and it said property of quicken loans) to train existing loan officers. You work 12+ hour days, they have no clue which system is correct to actually build revenue. They are literally changing the process every week. The core value of the company is frugality; which translates to lowest cost to help improve business and nothing to improve work life. The only benefit is to learn the mortgage business, but it is a massive bait and switch. The draw is the worst, 3 months to build pipeline which is impossible since they change everything weekly. Have a big savings to tap into if you're making the investment into this company. Otherwise try living in Chicago for $1,400 after tax on monthly basis with extremely high health insurance and mandatory 401K deductions. Just stay away!
Pros
Get step into the mortgage business.
Cons
The whole position and management
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Tooooooo much confusion
Loan Officer (Former Employee) –  New York, NYJuly 7, 2017
The beauty of being a loan officer is you work for yourself. The problem is you still need assistance to close your loans unfortunately working with GR it comes from salaried employees. The biggest problem with GR is there are so many inexperienced moving parts including so called managers that it is hard to get things done. Some of the guidelines are insane like 3 days to disclose WOW. There is no urgency to get things done, the follow up is horrible and benefits are as high as a giraffe's you know what.
Pros
No Cap
Cons
Crash Dummies are at the wheel
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Growing, but intense work environment
Mortgage Consultant (Former Employee) –  Ravenswood, ILJune 16, 2017
Typical fast paced mortgage environment, but very harsh management style for some individual pods. Poor work/life balance. Compensation was fair, except overtime was NOT paid as expected. Was actually less than hourly rate.
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Productive and fun environment
Loan Originator (Former Employee) –  Schaumburg, ILJune 5, 2017
Great place to grow and learn. Company cares about their employees. Great environment. Training is thorough and simple. Management works to ensure you are prosperous.
Pros
Atmosphere and employees.
Cons
Pay isn't great.
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Productive and fun work place with foose ball table and games
Employed Receptionist (Former Employee) –  Chicago, ILJune 1, 2017
Great work place typical day at work walk in stock kitchen do inventory clean and sit at the front desk and greet everyone and make sure everything is up to date. Make appointements, answer phone calls, data entry, whatever the office needs help with I was there...
Pros
Everything! Great Company
Cons
Management Unfair
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Poor Managements of Departments
Systems Administrator (Former Employee) –  Chicago, ILMay 24, 2017
This company is low rated for the Managerial part of it in various departments. Company is still behind on latest technology and employees are a come and go like a revolving door. If asked to advance for more pay increase, chances are you will be replaced.
Pros
Company allow drinking of beer and other after 3pm and bosses buys for departments.
Cons
long hours for short pay.
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Company did not care about the employee. Just cared about making their numbers
Mortgage Closer/Funder (Former Employee) –  Chicago, ILMay 23, 2017
Overtime was required and did not get paid overtime like it should of been paid. Many days worked 10-12 hours and did not get normal compensated for that. They paid half time for overtime so of you made 20.00 per hour, for your overtime you got paid 10.00 and they expected you to stay till everything was done with little help from management
Cons
No breaks and being a closer could not take lunch most days because no one to cover tou
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Wort employer I've ever worked for...
Corporate underwriter (Former Employee) –  Chicago, ILMay 16, 2017
Worked here due to personally knowing the management staff I went to work for. Eventually, a lot of turn over and Sales runs the show at this company, UW manager will not support UW's nor their decisions.
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Mortgage Sales is Not for Everyone
Sales (Former Employee) –  Chicago, ILMay 13, 2017
Worked in the online division. It's definitely better for a traditional employee mindset than typical mortgage sales. That being said... mortgage sales is *expletive* hard. Be prepared to fail at everything you do. Eventually you will embrace the challenge, figure out how to manage yourself, and make a whole bunch of money. Or you'll realize you hate it and everything about it. Then you leave.

I would say that if you're new to mortgages, sales, or both - this is the place to figure out if it's a good fit for you.

As far as the company goes, I've never had more support as a new employee than I had here. Work life is a bit off balance, but only if you don't play hard when you have the chance. I had my own issues with the way the place was sometimes run, but that's more my hangup than their faults.
Pros
Training, Free Leads, Support Staff, Winning Mindset
Cons
Long hours, boys club, hard to learn, hard to do
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I loved working there
Operations Assistant (Former Employee) –  Chicago, ILMay 10, 2017
Working at Guaranteed Rate was one of the best experiences I had. The environment was great, they have a rooftop café, it was great. The only downfall was the fact that they hire too many people at one time, and I was laid off after just 3 months. If asked to come back to work for the company I would definitely accept the opportunity.
Pros
Great work life balance, and benefits
Cons
Was laid off after just 3 months of employment.
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They have a rooftop patio with bar!
Post Closing assistant (Former Employee) –  Chicago, ILMay 8, 2017
But it is cold in Chicago 90% of the year!

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Pros
They had free coffee
Cons
You had to work min wage for free coffee
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Large company with a good culture around it
Sales Assistant/Data Analyst (Current Employee) –  Berkeley, CAApril 23, 2017
Guaranteed Rate is a very large company with branches all around the United States. While I did not work in the actual corporate office, everyone I spoke with at corporate always had a great attitude and were willing to help at every turn.
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Official response from Guaranteed Rate
July 21, 2017

We do appreciate your feedback. One of our core values is working with the best of the best and we do agree the leadership at Guaranteed Rate is made up with very high performing individuals. Cheers, The Customer Success Team

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Challenging work environment
Loan Coordinator (Former Employee) –  Parsippany, NJApril 18, 2017
The right individual may succeed here. It is a very challenging and competitive environment with very little work life balance. Management has very high expectations.
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Official response from Guaranteed Rate
April 26, 2017

Your feedback is appreciated. At Guaranteed Rate, we make every effort to support our employees the best we can. It is always suggested that our employees bring forth any ideas, concerns, or questions to management or HR, so we can work together to continue making Guaranteed Rate a great place to work! Cheers, The Customer Success Team

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Easy job
Post Closing Specialist (Former Employee) –  Chicago, ILMarch 9, 2017
Typical day is reviewing files and then shipping them out by the end of the day. Managers are cool, but business fluctuates drastically: sometimes you'll work until 7 or 8pm and sometimes you'll be off by 4. Inconsistent, and they hire a bunch of employees then lay them off 6 months later.
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Official response from Guaranteed Rate
April 28, 2017

Guaranteed Rate continually strives to provide an ideal work environment for all of our employees by embodying a culture that rewards employees for their hard work. We appreciate the feedback and wish you the best of luck in any future endeavors! Cheers, The Customer Success Team.

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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
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Official response from Guaranteed Rate
April 26, 2017

Thanks for the review! Working with the best of the best is one of our core values and we strive to encompass an environment of teamwork and excitement. Cheers, The Customer Success Team.

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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
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Official response from Guaranteed Rate
April 17, 2017

Thank you for your feedback. Guaranteed Rate has a culture of teamwork, professionalism, and mutual respect, where we hope our employees feel comfortable enough to discuss ideas and issues with higher management. Regards, The Customer Success Team.

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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.
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Official response from Guaranteed Rate
May 3, 2017

Thank you for sharing your experience. We agree our POD model allows our loan originators to efficiently manage their pipeline and close more loans.
Cheers, The Customer Success Team.

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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.
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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.

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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.
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Official response from Guaranteed Rate
April 26, 2017

Thank you for your review. Although we are not a school, it is wonderful to hear you had a pleasant experience and furthered your education during your time with the company. Cheers, The Customer Success Team.

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Overall rating

3.2
Based on 74 reviews
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Ratings by category

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

CEO Approval

Victor F. Ciardelli III
62%
27 ratings
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