Guaranteed Rate Employee Reviews

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2.0
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It's a job, not a career
XX (Current Employee) –  Chicago, ILDecember 11, 2018
I've been here three years and I'm already positioning myself for a firm career and not just a paycheck from Guaranteed Rate.

If you are outside of sales, your chances of advancement or increased compensation are slim-to-none. Frugality is one of the company's pillars--which also means regularly scheduled down sizing and maintaining just enough staff for specific roles that people don't get burnt out too fast (e.g. your team mate gets fired/quits, now you pick up his slack until you get fired/quit).

You'll never get officially promoted with more pay but you might get a nice little consolation prize with free title bumps.

You'll notice more managers and executives that don't do anything. This is the top heaviest organization I've ever seen.
Pros
On site cafeteria with really good lunch of the day
Cons
All leadership
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Official response from Guaranteed Rate
December 14, 2018

Thanks for your review. We encourage all our employees to share any experiences or feedback so we can pass it along to the appropriate parties. We appreciate you taking the time to share in your tenure at GR. Thank you for all your hard work, we wish you continued success

1.0
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Stay Away
Post Closing Specialist (Current Employee) –  Chicago, ILAugust 7, 2018
Typical work day is walking into a packed building like a bunch of sardines, sitting at TABLES, not desks or cubicles. Management is god awful. Hardest part of the job is waking up in the morning and realizing you have to go to work at this sweat shop of a company. There is nothing enjoyable about being looked down on, working with unqualified people and having managers who barely talk to you. Yes, business is busy but please pay attention to the needs of your employees. Simple praise from time to time would boost morale instead of just slaving away all day to nothing. If you don't remind your manager for a review, it'll never happen and you won't get a raise. You may not get a raise to begin with so there's that. I'm getting stressed and my anxiety is high just thinking about walking into that building again. Can I stress how much this place will make you stressed? Oh, we have a roof top and a masseuse but it covers up the fact that the benefits are too high, and wages are too low. WAY TOO LOW. It's borderline disrespectful.
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Official response from Guaranteed Rate
September 11, 2018

[Thank you for your feedback. Were sorry to hear that your time here has not lived up to your expectations.. By sharing your experience with us you are helping us create an enjoyable workplace experience for all employees. Thank you for all your hard work, it is greatly appreciated.

1.0
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Cheap company, run horribly
Operations Assistant (Former Employee) –  Naperville, ILSeptember 4, 2018
The culture is to hire way too many people and then within the next month or two fire more than they hired. You're never safe and no job security, one day everything could be fine then the next you're tossed out to the curb. Even if you have worked there for a couple years. Horrible management structure and very cheap benefits. 401K match is 2% and overtime is half current rate. Very low salaries with low per file bonuses. Used and abused
Cons
everything
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Official response from Guaranteed Rate
September 11, 2018

Thank you for your feedback. We are sorry to hear that your time with Guaranteed Rate has not been a positive one. We greatly appreciate you sharing your experience as we welcome all information to help us build and better our company so everyone can have success. We wish you luck on your future endeavors.  

2.0
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Remote Employee Review
Fraud Auditor (Current Employee) –  Chicago, ILDecember 11, 2018
GR is a good place to work if you have a solid work ethic and are motivated to succeed. They are super flexible if you are a remoted employee (cannot speak about on-site employees, I have always been remote). There is a lot of time dedicated to help you stay informed and well educated in the industry.
Pros
Flexible, ability to work remote, good benefits
Cons
Raises are rare, difficult to advance
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Official response from Guaranteed Rate
December 14, 2018

Thanks for your feedback. We appreciate you taking the time to share of your experiences. We are always seeking our teams insight so we can help shape our company to benefit all involved. Thank you for all your hard work.

3.0
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workplace culture
5 Star Specialist (Current Employee) –  Chicago, ILJuly 9, 2018
I love the culture at guaranteed rate, but I hate the job. This is a very stressful job. Workers rely on commission because base salary is low. So, it is very competitive and stressful because everyone is trying to meet and exceed goals given to them. You are constantly reminded via emails on your phone, computer, and also physically on a board where you stand compared to everyone else. I don't recommend this job because everyone that was in my department is either depressed or extremely stressed. Sometimes, I'm so stressed/overwhemled, I would have to go home early because I feel like I'm on the verge of a break-down. If you need a job, then take it, but be aware that the work environment isn't suited for most. Also, the people that you call doesn't make the job any better. They are rude!
Pros
rooftop patio, discount lunches, occasional free lunch
Cons
the job in general
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Official response from Guaranteed Rate
July 17, 2018

Thank you for taking the time to write a review. We appreciate your feedback.

Customer Success

5.0
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Great company if you work hard and are driven
National Recruiter (Current Employee) –  San Diego County, CAJuly 25, 2018
I love where I work because they have allowed me to grow and enabled me to progress in my career. If you work hard, you yield the benefits. Great management team, good benefits, awesome coworkers!
Pros
Opportunity within the company, bonus structure
Cons
Transition period can be tough
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Official response from Guaranteed Rate
September 11, 2018

Thanks for your feedback. Its great to hear that your enjoying your time with GR! Setting our employees up for growth is important us.Thanks for all your hard work and we wish you continued success.

Official response from Guaranteed Rate
August 2, 2018

Thank you for your comment. We are thrilled to hear of your success with Guaranteed Rate. We are glad you are part of the GR team.

Customer Success

1.0
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Bad Company
Loan Processor (Former Employee) –  Chicago, ILSeptember 24, 2018
If you a want a low paying job with no job stability, no chance at advancement, creepy male managers and no acknowledgement of hard work, then this is the job for you.
Pros
Sometimes work from home
Cons
Bad pay, no advancement, no raises, no acknowledgement for hard work
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Official response from Guaranteed Rate
October 4, 2018

We are disappointed to hear that you had a bad experience while working here. We take all feedback serious and have provided it to the appropriate parties. Thank you for your time with our company. We wish you much success in your future endeavors.

3.0
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ok company
Sr. Processor/Jr. Underwriter (Former Employee) –  New York, NYSeptember 3, 2018
ok place to work..wouldn't say its the most ideal place to work. no room for advancement. kind of stuck in your position. benefits are okay. location is great.
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Official response from Guaranteed Rate
September 11, 2018

Thanks for your feedback. We appreciate you sharing this with us so we can better tailor GR to help with our employees and their experience. Thanks for all your hard work.

4.0
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good while it lasted
Regional Operations Manager (Former Employee) –  homeOctober 9, 2018
Left a 6 year employer that I liked for more money and salary increase. Quite a bit of education to learn new programs and ststemss. Laid off 4 months later
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Official response from Guaranteed Rate
October 11, 2018

Thanks for your feedback. We are sorry to hear that your experience all though positive was short lived. Thank you for you time with us and we wish you luck in your future endeavors.

2.0
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It was a good place to work until it wasn't
Operations (Former Employee) –  RemoteApril 10, 2018
I started at Guaranteed Rate with a lot of good people, unfortunately due to turnover I was about the only one left by the time I was unexpectedly laid off. A lot of good borrower reviews under my name obviously didn't mean much. Management was a cluster, there were so many different people I ended up reporting to. The chain of command is too big along with the loan process which is why this isn't the place to be long term. There are other mortgage companies out there that value and pay you more for your efforts.
Pros
Technology, work from home
Cons
Expensive health benefits, constant reorganization of management, high turnover
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Official response from Guaranteed Rate
April 23, 2018

We appreciate you taking the time to share your thoughts. It is important for us to hear from employees so that we can continue to improve. We wish you all the best in your future endeavors.

Customer Success
Guaranteed Rate

4.0
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Overall Great Company
Mortgage Processor (Former Employee) –  Seattle, WAJuly 11, 2018
If you work remote, training feels like your left on an island to seek your own answers. If you already have the experience as a processor there is no other place that compensates you as well in the PNW.
Pros
Very professional atmosphere
Cons
Low base salary.
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Official response from Guaranteed Rate
September 11, 2018

Thanks for your feedback. We are happy to hear that your time with GR was positive. We appreciate you sharing your experience with us so we can better understand our employees needs in order to provide the proper tools needed to be successful We wish you the best of luck in your future.

5.0
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Very positive expierience
Operations Coordinator (Current Employee) –  RemoteMay 6, 2018
I was hired in operations working remote (best part!) GR supplied the proper equipment to get the job done. Fantastic IT support.
My experience with management has been positive and supportive. Benefits are expensive, but good coverage. Not enough paid time off. Not enough holidays.
Pros
work remote, supportive management team
Cons
expensive benefits; not enough paid time off.
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Official response from Guaranteed Rate
May 8, 2018

Thank you for your taking the time to share your feedback. Thank you for your hard work and dedication. We wish you continued success at Guaranteed Rate!

Customer Success

1.0
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Don't be too quick to drink the kool-aid
MORTGAGE SPECIALIST (Former Employee) –  Chicago, ILDecember 5, 2018
When you first meet with recruiters and directors from the company it will sound amazing, and yes, the opportunity for it to be amazing is there. It took me several months to finally accept that the kool-aid I was sold about the company was not what it actually turned out to be.

Yes, you will be treated to lunch (almost always pizza) from time to time for special events, but this is just a ploy to keep you at your desk working. If you opt to step out to get lunch during these purchased lunches, it's frowned upon because they what they're really looking to happen is to have you at your desk working while you eat, taking calls.

There is very little work-life balance, which is something they pride themselves in promoting. There are very few days you will work less than 10-13 hours in a single day. Don't expect to be paid full overtime for any hours over 40. They have a slick way of getting around paying it.
Pros
Co-Workers
Cons
Very long hours, no work-life balance, many broken promises
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Official response from Guaranteed Rate
December 11, 2018

Thanks for sharing your feedback. Our goal for our teams is to achieve success long term and enjoy their career at GR.We want everyone to be excited about their future in and outside of work. We apologize that this goal fell short. Thank you for all your hard work and we wish you much success with your future career.

2.0
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Hired full time under false pretenses
Closer (Former Employee) –  RemoteOctober 5, 2018
I was hired as a full time employee with false long term career possibilities, and was laid off 6 months later without thought to the financial chaos it causes to an employee's life. When you're counting on a "career" and it is yanked out from underneath you, that isn't a commendable or moral company. The management was inconsistent, from response support to company policy guidelines. If I had known then what I know now, I would have NEVER accepted the position.
Pros
None
Cons
Lack of concern or support for their employees
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Official response from Guaranteed Rate
October 11, 2018

Thanks for sharing your feedback. We are sorry to hear that this experience was not what you had anticipated . We want all involved with in our company to be set up for success. We apologize that this was the case. Thank you for your time with us and we wish you success in the future.

3.0
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Lots to learn
Loan Officer (Current Employee) –  Chicago, ILJanuary 25, 2018
A typical day at work for loan officers is spent on the phones following up with leads in order to begin the mortgage origination process. You'll learn a ton both about the industry and its relationship to the broader financial sector, as well as plenty of sales training. The management's heart is in the right place, but in my opinion the company is growing too fast too quickly and the growing pains are starting to show. People falling through the cracks, sales managers spread to thin, etc

The hardest part of this job is the pay. The base salary is abysmal. You're entirely reliant on your commissions and bonuses, and so I would not recommend this job to someone unless you're comfortable with some pretty dramatic fluctuation between your paychecks.

That being said, the people at the top take extra steps to make it an enjoyable place to work. The culture is very relaxed. Plenty of company outings, parties, etc.
Pros
Free monthly massages
Cons
Expensive health care plan and low wages
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3.0
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poorly run
Consultant and Contractor Advisor (Former Employee) –  Chicago, ILMay 22, 2018
The division I worked, 203k & Homestyle loan, was managed by a poor manager which made the work very "challenging". I reviewed all the contractor and consultants docs required for this loan type and was well below my abilities. Though the compensation was great, the work and work environment was very poor.
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Official response from Guaranteed Rate
September 11, 2018

Thank you for taking the time to leave a review. We are sorry to hear that your experience was not what you expected. We appreciate you sharing your feedback during your time here with us , as this will help us create a better environment for all our employees. Thank you for your time with GR and we wish you success in the future.

1.0
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Stay away!
Processor (Former Employee) –  Annapolis, MDOctober 19, 2018
Guaranteed rate is a chaotic work environment. Their process makes no sense and it shows throughout the loan process. The owner could careless about anything but how much volume he does which means how big his paycheck will be. Their expectations are completely unrealistic. They hire when they are busy and lay off when they slow down. There is no job security so be very cautious. The only positive I found was the technology they provide. They do not use Encompass the way it should be used which also makes the process take longer and things are missed. There are two many people touching one loan. I do not recommend joining the GR team.
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Official response from Guaranteed Rate
October 22, 2018

Thanks for your feedback. We are sorry to hear that your time with GR was not as you had hoped. Our goal is for all members of the loan team to have a fruitful experience that will be beneficial in helping them grow their career. Thank you for sharing this with us as it helps shape the way we move forward in the future. We wish you much success moving forward.

1.0
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Run Fast!
Account Executive/Project Manager (Current Employee) –  Chicago, ILJanuary 18, 2019
No work life balance! Horrible company to work for and bad management! Managers do not know anything! Every department is a mess. Don't do it. They sell you on how wonderful things are then turn their back on you! Save yourself!
Pros
non
Cons
everything
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1.0
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headache
Loan Processor (Former Employee) –  RemoteDecember 7, 2018
Processing mortgages is processing mortgages going from one company to another should only require learning a new system and maybe a slight few differences. Processing at Guaranteed Rate makes you feel like you dont know what your doing. Always being screamed at and threatened by the regional sales manager is a daily thing. Even while closing some of the highest numbers on the team, yet still being told by the sales manager you are doing a horrible job just sets the environment. But at the same time being told by the processing manager how great your doing. so you never know if your coming or going. The sales team talks to you however they want and no one bats an eye, cursing and yelling at operations staff to get this or that done is the norm. Loan officers at every company are going to have strong personalities but here they are allowed to treat you like you are worthless because that is how the managers treat you. They expect you to work all hours of the day/night/weekend, but they dont want you to clock overtime, even at night they will just keep calling until you answer and then get mad if you dont stop what you are doing with your family right at that moment to go back and work on another loan, so there is no work life balance at all. As far as job security goes, there is none you are constantly being threatened by the regional that you are going to be let go.
Cons
Health care is expensive, monthly it is double the amount of the previous company i was with.
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Official response from Guaranteed Rate
December 11, 2018

Thanks for your feedback. We are sorry to hear that your time with GR was not what you had expected. We always aim to place our employees in the best environment as possible, so they can continually expand their career. Hearing that this was not the case with your experience is disheartening. We take all our employees former or current feedback seriously and share it with the appropriate parties. Thank you for all your hard work and we wish you much success.

3.0
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Love Hate Relationship
Operations (Former Employee) –  Chicago ILMarch 9, 2018
I was lucky to have an excellent direct manager but was part of a layoff. I know this is their loss based on knowing how much I did for the company in which only my team could see. I cant recommend them because I personally saw how they treated other employees, bending truths, hiding agendas and treating people terribly. I feel my experience is rare.
Pros
Remote Access
Cons
Upper Management; Benefits
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Official response from Guaranteed Rate
March 21, 2018

Thank you for taking the time to write a review. We are pleased to know that you had a positive experience with your direct supervisor and wish you well in your future endeavors.

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Overall rating

3.3
Based on 259 reviews
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