In the world of Fair Lending laws, there are potential negative consequences and risks associated with AI and Guaranteed Rate using it with Gateless. For example, AI systems can be biased and discriminatory, and they can and will make mistakes... — read more
Using AI to get rid of staff
After Victor Ciradelli purchased Gateless to automate just about every position with artificial intelligence, no job there is safe. Makes you wonder when the CPFB will get triggered for them violating fair lending as AI does not know how to work with... — read more
More layoffs for closers in the closing department
They did another big layoff of really long term closers who worked for guaranteed rate for many years on November 1, 2022. Of course they kept them all to close loans on the last day of the month (which was also a holiday) and let them go that... — read more
We were all on our edges of our seats but the inevitable happened again. More layoffs for the ops teams. I was laid off today as a front end mortgage processor. My backend processor colleague was laid off too. It’s never ending.
Closers keep getting laid off
We lost 39 closers last week, October 7, 2022. We are a small handful left and overworked and underpaid
Another small round of lay-offs this Thursday. (Approx 8 people) Pipelines are dry and Gateless is being piloted to do most of our work for us. More downsizing anticipated.
More layoffs earlier this week
It was a sl------r. Something between 50-90 people were let go. Leadership is terrible. I would if I were someone who was currently there.
Layoffs are still happening
Don't think you're safe just because the last substantial round missed you. They've been laying off people consistently since the start of the year and I don't see it stopping any time soon. I don't think that any one of us can consider himself or... — read more
15 more employees from Philadelphia laid off 06/22
A couple weeks ago during a town hall video meeting Victor (ceo) stated that industry wide, companies were reducing staff and implied G-Rate would be as well however, later retracted that statement by email. The manager of the operating office in... — read more
Will there be more layoffs?
The pipeline is dry.
How was severance?
How many weeks of severance were given to people who were laid off?
Do we know if layoffs are finished?
Is there a possibility of more sometime today or tomorrow?
Laid off today. Our support team has dwindled and I'm surprised it lasted this long. Much luck to all
More layoffs for GR in 2022
GR is laying off more divisions that were part of Stearns Wholesale. Most of the Jumbo team was laid off on Tuesday 2/1/2022. Beware! They have a reputation for hiring up when volume is good but quick to lay-off when volume drops.
Nature of the Beast
GRA will build their workforce up when volume is there and cut you faster than they hired you! Okay place to work, they preach family culture but don't be fooled. You are a number and they are a machine. Also get as much money upfront, because they... — read more
Lay offs In Chicago 2021
A few people are getting laid off in Chicago, both work from home and in person employees. Right now only 4, but maybe more.
Chicago Layoffs at Guaranteed Rate
Last year about 30 people were let go back in April. I was one of them. This was affecting Chicago location but I think the overall cut by Guaranteed Rate at that time exceeded 200 people. Now, the company has about 4,000 employees so 200 is a lot -... — read more
I know people are not reporting but there are more layoffs now. And we expected this. Good luck!
Layoffs are coming...
Layoffs, RIFs abound – be careful with GR, they are shrinking now (I left last year) Glassdoor reviews are managed, so you can disregard this – it’s overengineered by HR they keep it above average and will give you a swekewed picture about GR – read... — read more
Any updates for layoffs in 2018 and 2019 for Guaranteed Rate?
Given the industry turmoil, do you expect that more layoffs will be coming to Guaranteed Rate any time soon? Just look at the competition, everyone has massive layoffs right now?
Large Layoffs for GR
This is nationwide and it's 100% true. 180 employees will be laid off, we have about 3000 employed so 180 is a lot - I hope they do not do it ever again