Guaranteed Rate Employee Reviews

3.0
Overall rating
Based on 108 reviews
Ratings breakdown
523
417
326
219
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1.0
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Worst company I ever worked for, BAR NONE!!
Mtg Loan Officer (Former Employee) –  Irvine, CAMay 21, 2018
Easily my worst work experience and Ive had much to gauge against. Leads were beyond bad. Like sub 500 FICO, mtg lates and everything else. Management wanted to know why I didnt close business. Turnover was HIGH. RUN DONT WALK FROM GR.
Pros
None
Cons
Literally everything
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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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Worst mortgage job I've ever had. Don't be fooled by promises of higher pay!
Operations (Former Employee) –  NCMay 1, 2018
Horrible work experience. Left a mortgage company that I loved for higher pay and was laid off within 9 months time. Unprofessional management that regularly used profanity in "meetings". Hostile work environment. I would never recommend this company to anyone.
Pros
None!
Cons
Management, hostile work environment
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Official response from Guaranteed Rate
May 7, 2018

We are sorry to hear that your time with us was not what you anticipated. We want all of our employees to feel comfortable in their work environment and apologize that this was not your experience. We wish you the best of luck in your future endeavors.

Customer Success
Guaranteed Rate

3.0
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Okay place to work.
Sales Assistant (Current Employee) –  Frankfort, ILApril 19, 2018
If you want a career in the Mortgage industry than this is the job for you. I on the other hand was just a sales assistant and was under paid. I loved my job just not the compensation.
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Official response from Guaranteed Rate
April 23, 2018

Thank you for taking the time to leave a review. We are pleased to hear that you loved your job! We wish you much success in your future endeavors.

Customer Success
Guaranteed Rate

2.0
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Not good
VP of Mortgage Lending (Former Employee) –  Kansas City, MOApril 13, 2018
There was absolutely no support at this company. My team quit and my manager quit. I stuck it out as long as possible but the only support was rude phone support from Chicago.
Pros
Good technology
Cons
Lack of support from the company
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Official response from Guaranteed Rate
April 20, 2018

Thank you for taking the time to provide your feedback. We work hard to support and improve the relationships we have with our employees. While we regret that wasn't your experience, we wish you the best in your future endeavors.

Customer Success

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

3.0
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None
Manager (Current Employee) –  RemoteApril 6, 2018
They company is a typical Sales Organization originating mortgage loans. Long hours worked with little reward unless you are in Sales. Benefits are weak.
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Comment – April 10, 2018

We appreciate your hard work and dedication to the company and appreciate your feedback! It is important for us to hear from our employees so that we can continue to improve. We wish you all the best here at Guaranteed Rate!

1.0
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Guaranteed Rate
Mortgage Specialist (Current Employee) –  Chicago, ILApril 1, 2018
At GR, they say the average person will make $60-70,000 their first year, you will be lucky to make $30,000. They lie to you during the interview process and they won't let you change positions because they have so many people leaving the Online Division. I would not recommend this job to anyone. They said there was a rooftop, but it is in another building. They said you got 1 free massage a month, that was a lie. They said there would be work life balance. I work 65 hour weeks, and weekends and I am on call if a client needs me. I have to come in on weekends They make you feel like you are back in high school with the way the manage us. People are having to borrow money from family members to pay their bills, some people are going into huge amount of debt to stay at this job. I DO NOT RECOMMEND.
Pros
None
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Official response from Guaranteed Rate
April 11, 2018

Thank you for taking the time to share your thoughts. Our rooftop deck is available for use by all employees at all office locations although as you note, it is located at our corporate headquarters. Additionally we do offer 1 free monthly massage for our employees assigned to certain office locations. While we are disappointed to hear your experience hasn’t been the best fit, we encourage you to speak with your manager about your concerns.

Customer Success
Guaranteed Rate

2.0
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You can being in a class of 30 - 5% make it in, and even less go on to stay more than a year.
Loan Coordinator (Former Employee) –  Chicago, ILMarch 31, 2018
If you can grind the phone and pass exams this is for you. They make deals work you just need to find them. Leads are not coming you will need to source.
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Official response from Guaranteed Rate
April 10, 2018

Thank you for taking the time to share your thoughts. We regret that your experience at Guaranteed Rate did not live up to expectations. We wish you success in your future endeavors.

Customer Success

1.0
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Blood Diamonds of the mortgage industry
processor (Former Employee) –  Boston, MAMarch 27, 2018
My experience here was negative. They overwork people. Period. It is really out of control. If you want to work like a slave....work here. 11 years in industry. My first experience like this.
Pros
None
Cons
Senior managers are relatives / friends
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Official response from Guaranteed Rate
April 23, 2018

Thank you for taking the time to share your thoughts. We definitely do our best to set realistic job expectations and we are sorry to hear that was not your experience.

Customer Success
Guaranteed Rate

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.

Guaranteed Rate
Customer Success

3.0
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Life at Guaranteed Rate...
LC - Loan Coordinator (Former Employee) –  Grand Rapids, MIMarch 6, 2018
Fast paced; helpful; good processing concept; no advancement opportunity; layoff handled poorly; loyal employees; able to talk to senior management easily.
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Official response from Guaranteed Rate
March 27, 2018

We appreciate you taking the time to give us your feedback. We pride ourselves on having open communication throughout the company. We strive to think big and solve problems and we wish you well on your future endeavors.

Guaranteed Rate
Customer Success

4.0
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Looking at leaving the industry
Office Manager / sales assistant (Current Employee) –  San Diego, CAMarch 5, 2018
Looking at getting back into admin. The mortgage industry has proved to be something that I wish to move away from and back into management and admin where mynoassion lies.
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Official response from Guaranteed Rate
March 27, 2018

Thank you for taking the time to write this review. While we offer a variety of opportunities within the company, we hope that you are able to find a position that best suits your needs. Thank you again for sharing your feedback!

Guaranteed Rate
Customer Success

3.0
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WOrking
Front End Processor (Former Employee) –  Schaumburg, ILMarch 2, 2018
Guaranteed rate is a nice company but needs to move ahead with the times as employment shouldn't be about only money, but about helping people and being a good company for everyone.
Pros
NullNull
Cons
Null
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Official response from Guaranteed Rate
April 23, 2018

Thank you for your feedback. We share your thoughts are pleased to report that the Guaranteed Rate Foundation was established with just that objective in mind – to impact the lives of our employees, our partners and their families and communities in times of need, in meaningful and positive ways. To learn more about our Foundation, visit www.guaranteedrate.com/foundation.

Customer Success
Guaranteed Rate

1.0
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Irrational and unachievable expectations
Operations Assistant (Former Employee) –  Chicago, ILMarch 2, 2018
Loan officers have no accountability. Sloppiest applications I've ever seen in my entire mortgage career of 20 years. Us operational people were supposed to be mind readers and turn pitiful applications into Miracles expected to work at lightning-fast speeds but only in 8 hours because overtime was rarely approved Underwriters have ridiculous expectations and conditions just a very miserable experience and I've been in this industry for 20 years.

Mass layoff with no warning!
Pros
Work from home
Cons
Miserable, unreasonable expectations, sloppy applications, loan officers treat their operational staff very poorly, their IT worthless, just an overall very bad experience
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Official response from Guaranteed Rate
April 23, 2018

Thank you for sharing your experience while working at Guaranteed Rate. We value your feedback and appreciate the time you have taken to share your thoughts.

Customer Success
Guaranteed Rate

5.0
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Great entrepenuerial spirit.
Vice President, Mortgage Lender (Current Employee) –  Peoria, ILFebruary 21, 2018
Work is focused on marketing and gaining new clients. The technology and support is fantastic. Anyone that is a current loan originator with a solid referral base should give this a consideration.
Pros
Compensation
Cons
Need to have an extensive referral base.
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1.0
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awful place to work
Loan Processor (Former Employee) –  Schaumburg, ILFebruary 19, 2018
it was needlessly stressful, the co workers were not friendly or inviting and the management was the most awful part. The only good thing about this company is the training.
Pros
Training
Cons
everything else
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3.0
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Over promise Under deliver
5 Star Associate - Sales (Former Employee) –  Chicago, ILFebruary 15, 2018
Compensation is poor.

They promise you career advancement and do not deliver.

highly political environment.

revolving door like many sales positions.

There is money to be made but you have to really put in serious work/get good breaks.

Commission 100% after a 3-4 month hourly rate of 20/hr
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1.0
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Not for Seasoned Professional
Grunt (Former Employee) –  ChicagoFebruary 5, 2018
Good company for entry level (thats as high as their pay goes), poor management, poor training, compartmentalized to the point that the left doesnt know what the right is doing and they have no intention of you ever finding out.
Pros
Cant think of one category that jumps out as a "pro"
Cons
same as the above review.
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3.0
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Good place to work
SENIOR FINANCIAL ANALYST | SUMMER INTERNSHIP (Former Employee) –  Chicago, ILJanuary 28, 2018
Good, carefree place to work. diverse crowd and interesting office space. Huge deck and many social events. Cafeteria right down and accessible through brown line.
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