Guaranteed Rate

What started off as what seemed like an easy mortgage transaction quickly turned sour.
I was referred to Guaranteed Rate because we needed a quick close, and my previous mortgage company couldn’t make any promises. In addition, Peter Martino offered a bigger credit at closing. He actually offered two options — a smaller credit with a lower interest rate and a bigger credit with a higher interest rate. I did the math, and the larger credit/​higher interest rate was actually the better deal based on how long I anticipated living in my new home.
Everything seemed to be moving along nicely and I had no complaints until the last week or so when some minor annoyances popped up. Frustrating, but since it didn’t delay closing I didn’t make a fuss.
I didn’t get the final HUD until an hour and a half before closing, so I didn’t get a chance to review it since I was already in the car. To be fair, I didn’t catch the mistake when I signed everything at closing (and if you’ve ever looked at a HUD, you know how confusing they are), but when I got home I reviewed it and saw some things didn’t add up and basically I was given less than half of the credit I was promised. I immediately emailed Peter about it, and suddenly I was getting no responses (when I would get super quick responses before). I spent the next week getting the run-​around, and I finally got a follow up ONLY after I filled out some survey they sent me. So, only when their reputation is challenged do they actually communicate with customers. Nice.
When I finally did talk to Peter, after assuring me he had been working on it for the last week and just not telling me, he admitted that a mistake was made and he missed it. Despite this, upper management at Guaranteed Rate ultimately said there’s nothing they can do due to federal regulations. Thus, I am screwed out of almost $ 1500.
Am I partly to blame for not knowing how to read a HUD and not letting my attorney know I was getting a credit? Yes. But as a mortgage professional who does this all day long, I also expect them to get it right on their end. Shame on me for being too trusting, I guess.
Sure, Peter was remorseful and from I could tell genuinely felt bad about the situation, but guess what? I’m still out almost $ 1500. Sure, Peter offered me a deal to try to make it right (refinance at a lower interest rate at their expense in 180 days), but that’s assuming interest rates will be lower. If they’re not, guess what? I’m still out almost $ 1500.
So, my advice to you, dear reader, is to learn from my rookie mistake and triple check your HUD at closing no matter who your lender is.
Closing cost credit aside, their insurance department also dropped the ball. After initiating the loan process, Jennifer Ward contacted me to see if I wanted to talk about insurance rates. Sure. The homeowners insurance she quoted me was a good deal, but the car insurance rate was about $ 20-​ish a month higher than what I pay now. She said she would research some more rates and get back to me… and that was the last I ever heard from her. That’s cool, I’ll take my business elsewhere.
Edit (5÷22÷15): Within an hour of me posting this review, their «customer care» team called me, they posted the owner’s comment below, and Jennifer reached out to me. The rundown:
— Rachel from customer care left me a voicemail and I called her back. She wanted to see if there was something they could do and I told her that Peter’s upper management already said legally there’s nothing they can do. She said something to the effect of there are ways around it, and she could look into getting me a gift card. (But wouldn’t a gift card still require cash? Why not just give me the cash I was promised? Creative bookkeeping, anyone?) Regardless, that call, according to my phone history, took place at 4:18pm on May 14^th. It’s now May 22^nd and I haven’t heard a thing from anyone. Looks like we’re back to radio silence and really poor follow up. I specifically asked her to email me and not call with an update because I was sick and losing my voice, and yes, Rachel, I have checked my spam folders. I have zero communication from you. Great follow up! Man, their «customer care» team knows how to show you they care!
— Jennifer left me a voicemail apologizing, but claims she left me a voicemail on X date saying she couldn’t get me a better car insurance rate. Jennifer, honey, no you didn’t. The conversation I outlined above happened on the day you claim you called me again (phone records are amazing, right?), and you did not leave me a voicemail.
The ONLY reason I chose Guaranteed Rate over my previous mortgage broker is because of the credit I was lured in with and promptly screwed out of. That, plus their horrible «customer care» job they’ve done trying to fix this, has only sealed the deal that I regret ever giving this company my business. And if they think for one second I will trust them to refinance my home in 180 days, they are sorely mistaken.

I recently closed on a property in Barrington, IL using Guaranteed Rate. I worked with Lisa Vaske and her team in Schaumburg, and everyone was fantastic. Lisa and her team were very responsive and kept me well-​informed every step of the way. Lisa locked me into a great rate on a ³⁄₁ ARM and I had a smooth closing.