A Chicago Tribune investigation included accounts from former employees who described sexual harassment, misogyny and bullying.
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A survey published by the investigative team chicago tribune Details were detailed on Saturday about a culture at mortgage lender Guaranteed Rate that former employees said was plagued by bullying, misogyny and sexual harassment.
As part of its investigation, the outlet interviewed nearly 80 former Guaranteed Rate employees and reviewed court records, internal company emails, text messages and other documents.
The report focused on allegations against Chief Executive Victor Ciardelli and other executives close to Ciardelli that employees said he was “quick to berate, curse and belittle employees.”
Some former employees, now working at rival Guaranteed Rate lenders, told the company their mental health suffered after working for the company’s top executives, this forum reported.
this forum Former employees have detailed a sexual atmosphere within the company, with male employees making sexually explicit comments to female colleagues.
“Everyone in Mr. Sciardelli’s direct reports feared his potential angry outbursts,” a former aide wrote in an email to Human Resources. forum.
Ciardelli and Guaranteed Rate deny claims forum and provide testimony, investigate, and gain access to employees who refute the findings. They noted that the company has a larger number of female loan officers than its competitors and said the company has taken conscious steps to create opportunities for women to thrive within the company.
In response to this report, a Guaranteed Rate spokesperson called forum The article was a “hit piece written to tarnish our company’s reputation.”
“We strongly disagree with what was written in the article and believe it to be inaccurate,” a spokesperson said in a statement to Inman. “Much of the content of this article was written with the intent of now working with a competitor. Pushed by disgruntled former employees.”
“We provided chicago tribune A wealth of information debunks the irresponsibly written story,” the statement continued. “We provided them with more than 80 testimonials from current female executives, female senior loan officers and former company employees documenting their positive experiences with the company and their love for the company culture.”
The investigation follows Ciardelli and his company’s tremendous success and acclaim since its founding in 2000 in Chicago.
The company said Guaranteed Rate employees grew from 2,500 employees in 2014 to a peak of 9,708 employees in 2021 tribune. Like many lenders in a high-rate environment, the company has struggled over the past two years and has made layoffs. As of April, the company had 3,871 employees rounds of layoffs.
The company was rated chicago tribune Best Places to Work 2018, based on survey conducted by a company not affiliated with forum. In 2016, Ciardelli brokered a deal that guaranteed the naming rights to the stadium that houses the Chicago White Sox.
Guaranteed Rate consistently ranks among the top mortgage lenders in terms of origination volume and market share.
Email Tyler Anderson
Update: This report has been updated to include comments on guaranteed rates.
