Guild Mortgage Reviews

This is a collection of reviews by people who have used Guild Mortgage Company. This blog is an effort to inform consumers about Guild Mortgage practices and experiences in order for them to make an educated decision around loan companies.

Have you had an experience with Guild Mortgage? Please send it to me at and let me know if you would prefer it to be anonymous, otherwise your first name and city/state would be great -- or -- leave it in the comments!

Thank you.

Wednesday, June 24, 2015

Guild Mortgage Company Reviews on Lending Tree

Lending Tree has made a name for itself as an aggregate site for loan providers to connect with individuals who are interested in purchasing or refinancing their home. They have a reviews page dedicated to Guild Mortgage Company.

A user by the name EricLongBeach, from California claims that his loan process took four months and that Guild Mortgage allegedly moved him from program to program, always re-starting his place in the process. After complaining, a Guild manager promised the refunding of his appraisal fee, but after the manager quit, the company refused to respect the promise made by the manager. See the full text below:
"The entire process took 4 months, thank goodness this was not a purchase because I would have lost the house and probably my deposit. At first they put me into one program and all was fine, but then they moved me to a different program. Instead of moving my loan to the front of the line because I already waited a few weeks, they moved me to the back and I had to wait a few more weeks. We went back and forth for a couple months and finally the manager promised to refund my appraisal fee as a consolation. After they closed the manager quit and now they will not respect they deal he made. It is not a large amount of money, but it is the principle and if they cannot follow through on a promise, then I am not sure i would trust them again."

A person with the username "investor" from Boise, Idaho states that they have used Guild Mortgage in the past, I'm assuming with a positive enough experience for them to warrant doing business with them again, but that their latest experience was not a good one. This user claims that Guild was unable to adequately understand their unique investment property position, causing Guild Mortgage to lose their business to a company which has a wider breadth of capabilities given this user's position. They did say that Guild Mortgage was good for a "first time buyer".

"We have used Guild Mortgage in the past, but this time they pulled the rug out on us. At first they gave us a good rating to use on a hud house bid. Then pulled the offer when they could not understand why we took a loss on our rental properties for tax purposes. now they want all new information, and it all has to show on our taxes. (our taxes are done) We are now looking for other lenders that understand investment property. Good for the first time buyer, but don't make it to involved, they don't understand profit & loss statements." 

Thursday, June 18, 2015

The LoanSafe.Org page on Guild Mortgage - Some advicel

There is an article on regarding some alleged fraud on the part of Guild Mortgage by user "soooomad" in 2011.

The accusations range from predatory loan practices:

"We have just recently found out that the bank committed fraud in that the loan was predatory in nature as they knew that he would not be able to afford the loan as his workers comp payments were going to stop within a 2 year time frame."
to illegal foreclosure:

"We also found out that the bank illegally foreclosed on us about a year ago and then accepted forbearance payments from us for 4 months! The biggest issue with that was that we were never notified that we were even in foreclosure until the bank posted a sale notice on our door back in mid april of this year and the sale date was for the 5th of may 2011! "

and ends with the user stating they are going to sue Guild Mortgage for fraud:

"Again, guild mortgage never, ever sent us any documentation as to their filing for foreclosure or the transfer through mers or attempted to call us/answer emails/etc... In order to work this out and we are now beyond the point of working anything out with them. The only option left is to sue them for fraud."

The community members on LoanSafe give some excellent advice on how to handle situations like these, including contact phone numbers and addresses for the Attorney General and how to dispute the debt with Guild Mortgage Company's litigation department.

If you are experiencing a similar hardship with loan practices you find predatory or think you are dealing with fraudulent foreclosures, this page has some advice that could be of use.

Comstock Mortgage is owned by Guild Mortgage

Comstock Mortgage, based in Sacramento, California, was acquired by Guild Mortgage in September of 2014. The company stated:
“We will benefit from bringing our two companies together, providing powerful synergies that will allow us to be successful as a company, and individually”
The acquisition brought Guild Mortgage 15 offices throughout California, over 180 loan offices and reported $600M loan originations in 2013. The acquisition was effective in October of 2014.

The BBB for Comstock looks good and prior to the acquisition there didn't seem to be many customer complaints, but it is considered "Closed" by the Better Business Bureau.

Wednesday, June 17, 2015

Better Business Bureau File for Guild Mortgage Company

The Better Business Bureau has a page for Guild Mortgage.
While they are not officially BBB accredited, you can see past complaints and resolutions.

This is so far the only place I have seen Guild Mortgage attempt to communicate with individuals who feel slighted by the company. It does seem as if the people who are responding to the complaints have authority to make changes and leave people feeling better than they did when they filed.

There are 11 complaints that have not been addressed by them. 

Guild Mortgage on Pissed Consumer

Guild Mortgage is unable to escape the negative publicity their practices bring on. Pissed Consumer has several negative reviews relating to using Guild alongside builders and

An anonymous user in November of 2014 who was using Guild Mortgage with a new construction in partnership with their builder ended their story with:

"We would never advise that anyone do business with Guild as a result and there is no way we would ever recommend using them to finance a home. We hope you consider this letter in the future as I am sure these complaints will arise again with future buyers."

 June 5, 2013 a user from Kirkland, Washington posted:

"Unfortunately, Guild Mortgage in Kirkland, WA completely demolished my financing, lied and cost me my sale.Our loan officer was nice at first to get us to sign up and then it was all downhill from there.
The manager never called us back, he ignored our calls, did not lock our loan like they said, failed to disclose our fees correctly and we had to go to the state Mortgage Comissioner to complain before they finally assigned us a "temp"."
A company with mortgage in their name should be able to lock in a mortgage, no?

Again, we see people complaining about the lack of follow through on the part of Guild Mortgage, failed customer service opportunities, and the loss of a sale for this individual.  

Guild Mortgage Office in San Diego on Yelp

San Diego is where Guild Mortgage is headquartered. I am no business major, but it seems to me that prior to being able to successfully service an entire country of offices, you would have buckled down in your own back yard.

This is simply not the case with Guild.

I am assuming that this is the front face of their headquarters building, of which they occupy three floors.

Julio R in 2010 reiterates what we already know about their poor customer service, but adds that they don't keep paperwork straight. He warns to "stay away".
"Guild is the worst company to deal with if you have any questions with your loan.  When you call you are on hold for over 30 minutes and everyone wants to transfer you to someone else.  We never got new payment statements when our payment went down and no one knew how to get them to us and we are trying to give them money.  We sent in two months payments as stated on our stub received and they applied one month as extra principal instead of the month it was to cover and then sent us a statement saying we were a month behind.  Come on, Guild needs to get it together.  We work hard to have our home and don't need the extra stress of a company that can't get their paperwork straight.  Guild mortgage looks out for their own interest and is not there for the people.  I would stay away."
There are FIVE mentions of both the words "horrible" and "terrible" as applied to Guild Mortgage for their hometown office! The common theme in San Diego is that there are continuous streams of paperwork errors which are costing people time and money, it is difficult to get a representative of Guild on the phone, and that their loans or refinances were sold to/given to Guild and then Guild treated these individuals poorly.

Riddhi in San Diego says:
"HORRIBLE. I wish i could rate them with zero stars. We chose guild mortgage recently and we are appalled at their lack of professionalism. They added last minute costs which were not communicated to us. This cost the brokers knew all long but failed to tell us. MISLEADING. They made so many mistakes during the transactions. Their closing costs were ENORMOUS. More than most major banks. And on the closing date they charged us 1,400 more than agreed upon. VERY UNPROFESSIONAL. We went with them inspite of a higher interest rate hoping the transaction will be smooth but they are such amateurs. NEVER chose them. Closing the deal should make us as homeowners feel happy about buying a house but they made us feel stressed and tensed with more money to shell out. We should not have chosen them in the first place."
Last minute costs, paperwork errors, increases in closing costs, increases in interest rate - but no increase at all in customer care or investment in outcome by Guild Mortgage.

Guild Mortgage Office in Bellevue - Yelp Reviews

The Bellevue, Washington Guild Mortgage office currently has 3 out of 5 stars. 

Some of the issues mentioned include selling new loans (after lying about it) like Anna W discusses:
"At least, we thought, it's unlikely they will sell off our loan as some other reviews had mentioned. After all, when we voiced that concern, their rep explicitly told us not to worry about that, because they "typically don't sell [our] type of loan." Too bad he was full of hot air, because a couple of weeks after closing (and only ONE day after we move into our new home), we get a notice that our mortgage has been sold to another bank. I get that these things happen, but after the rep's overtures, to have it happen within DAYS just reaffirms to me that to some extent, we've been had."

James K had the interest rate changed with no notification and an attempted slide of the hand on the closing paperwork. 
"Why? They changed the interest rate on us at the last second. Now, this happens all the time and is somewhat expected. If the agent had simply said something then fair enough, we could accept it as part of the game. However, NOTHING was ever said. The documents simply had the new rate the day before we needed to close. We were already extending since Guild's underwriters took far too long to approve."

The user Mike C had an experience which cost him money with his escrow account, followed by a sentiment echoed across the board of not being able to get ahold of Guild Mortgage customer service people when he needed it. 
"This for overall guild, not this office, they messed up my escrow account when re fi and money lost without records, called many times and no one could help and keep transferring to different numbers"

If you are considering using Guild Mortgage for your Bellevue, WA home, I would encourage you to look at their yelp page and check for the latest updated reviews and make sure you know what you are getting into with them.  

Consumer Affairs Page on Guild Mortgage

Consumer Affairs has long been a source for trusted information on products and services. Their page dedicated to Guild Mortgage should give anyone who is considering them great pause.

The posts start on December 2009 and one of the very first is from a woman in Corona, CA the day before Christmas, obviously having nowhere else to turn but Consumer Affairs instead of enjoying time in her home with family.

In December of 2008 my husband was notified that he was being laid off. At that time it was our first contact with Guild Mortgage. We called and called and finally got through and notified the loan counselor that this was to occur in a month and asked for her suggestions because we were very concerned and did not want to lose our house. At that time we were advised by the loan counselor that Guild Mortgage Company was not restructuring or modifying loans. So we went to an outside loan modification company to try and get our loan modified; we went through that process, and after a few months waiting on a response, we received back a letter from Guild Mortgage that stated, “We are not modifying FHA loans.” We received that letter in May 2009.
We then submitted in June a modification request again with the help of FHA and have never to this day received an answer. Then in September 2009 we received a foreclosure notice taped to our front door stating our home was being foreclosed on. That same notice also stated they tried to call 8 times and received no response. We never received calls from Guild even upon request from us. So we again, as we have many times before, we called repeatedly and finally got to the foreclosure department and asked them for details regarding the foreclosure and asked for an extension on the foreclosure so we could work this out. She said Guild had tried on several occasions to contact us with no success. I question the truth in this statement as our phone numbers have not changed. On the contrary, it was us who called numerous times from December 2008 to November 2009 and was never able to reach a loan counselor or loss mitigation counselor.
When I finally did ask one of the customer service representatives why this is, she told me the process was for the customer service reps to answer the phones take a message and one of the loss mitigation reps would call us in 24-48 hours. On all the occasions we called and held on forever and left messages, absolutely no one from Guild Mortgage has ever called us back. This was extremely frustrating and did not show that Guild was working and making an effort to assist its customers.
Shauna was the first one who answered her phone and would return my calls, but at that point, our situation was in default and on its way to foreclosure. Shauna gave me the phone number of a loss mitigation representative to talk to about our package she had and the programs available to us including the FHA-HAMP. Ines had the package for several weeks with no contact or response from her to us. So we called Guild repeatedly again being told the messages would be returned within 24-48 business days and the call was never returned. Unfortunately Shauna became our only lifeline to the company, so my calls for everything were to her because she would answer the phone or return calls. Finally she sent loss mitigation an email advising she has postponed the sale and asked for her to review the file before 11/10/2009. This did not happen and again no response from Guild Mortgage.
We are being very tenacious about coming to a collaborative agreement, one that will take care of delinquent payments and create an affordable payment taking into consideration my wages and my husband’s unemployment. I wrote a letter in the beginning of November to the President of Guild Mortgage and coincidentally I received an email from a loss mitigation rep of Guild Mortgage stating he was trying to work with me to get this solved. He was very helpful in the beginning and offered me insight on what changes Guild Mortgage has been going through with the increased volume of mortgage defaults they are servicing. I understand this; however, it does not excuse the fact that I am very willing to make Guild Mortgage whole and obtain an affordable mortgage monthly payment considering our current situation.
He suggested I call or write FHA and my State Representative if I was unhappy with the restrictions of my FHA insured loan. He also reminded me that we should be more aware of what we sign when purchasing a home and know that default can lead to foreclosure. I was told that Guild is on the servicer of the loan and can only do what FHA allows. I don’t understand this because FHA is the insurer of the loan, so why is the servicer bound from doing anything like modification/restructuring loans as the servicer? He sent us a request for financial statement, bank statements, paycheck stubs, etc. We sent all that in and he suggested we cut expenses and we did. Now he’s saying upon our return of these forms that it appears nothing has changed.
We took a few weeks to negotiate and reduce our monthly obligations, our food bill, attorney fees, credit card payments, etc. I feel like we are on a merry-go-round and all we want to do is what everyone in America does - that is, to have and maintain our home, health and dignity. We are proud to be homeowners and are doing everything possible to keep it. We desperately need help and we need it right away. Now it is difficult to reach him. We have not received a return phone call, and after a couple of emails requesting a response, we finally got one, which is when he said "he didn't notice anything different from the last submission". Well, the financial statement is different because we did reduce monthly obligations as he suggested, so it is all confusing to me.
We are very serious and desperate about saving our home and making amends with Guild Mortgage. We just feel it is very difficult to reach someone to work things out; we are getting the runaround, poor customer service and misinformation. It seems as though the feeling is just foreclose because that is easy, don’t try to help the customers. It is difficult to find someone who will work with us to ensure we stay in our home and Guild Mortgage can be made whole. We would like someone to listen to our situation and restructure/modify our loan so our payment is under $1900 a month even if our term needs to be stretched to 40-60 years.
We love our home and do not want to be discriminated against because of a series of unfortunate events starting with my husband’s layoff from IBM and the current global recession our country is dealing with. We are proud to be homeowners and happy to have a stable and permanent home for our two children to grow up in. We have done what was asked of us; we lowered our credit card payments, lowered our food bill and most every necessity to the bare minimum. My husband is going to be enrolling in school in the winter to retrain and expand his options for employment and continues to receive his unemployment.
Help! Are you experiencing difficulty too?

Complaint after complaint lists the same issues: not being called back, not being easy to work with, poor customer service, costing people money, time, loans and in some cases - their homes.

In some cases, Guild Mortgage is claiming to help with loan modifications on people who can not afford their payments, and they are simply modifying it to be an increase in payment, missed payments being applied to the end of the loan, and extraordinarily high interest rates:

Last week on July 13th 2010, we've got a letter from them stating that our modification had been approved. I continued reading the letter and I noticed that instead of our payment going down, it had gone up from $2608 it went to $2702. They did not lower our interest nor our payment. We are behind in our payments about eight months so they added all that past due to the end of our loan and that's why our payment had gone up. Not only that but our interest would be variable at a 6.125. Of course we are not signing any documents accepting that crazy modification.
Now, due to our house is closer to a foreclosure, we really don't know what to do now or where to seek for help. I have two kids, a 9-year-old and a 3-year-old and just to think that we could lose our house stresses me out and stresses my wife out, too. We don't want to lose our house but if we have no other option or help, it seems like we will lose our house.
And as Will in Lancaster, PA wrote about recently, they are known for postponing closing and costing people on both sides of real estate transactions time and money:
My wife and I are selling our home and the buyer went to Guild get the loan. Well a month now after the Original close date past, they postponed the closing three times and then ended up not issuing the loan and the buyer is now going to our lender for the loan. They are very unprofessional and unorganized. They basically have held up three properties from sale and four families from their respective homes. 

 With 43 complaints about Guild Mortgage on one of the most trusted consumer opinion sites in the world, these issues are not isolated incidents, but instead - are indicative of a company who does not care about the satisfaction of customers, much less repeat business.