Becky Yarak

Published On: April 4, 2017
Guaranteed Rate Chief Stands Behind ExecutiveBusiness development manager had revoked real estate license

April 4, 2017

By BECKY YERAK Chicago Tribune (Tribune News Service)

People make mistakes.

That’s what Victor Ciardelli, chief executive officer and founder of Chicago-based mortgage provider Guaranteed Rate Mortgage, said when he learned that his company’s new business development director has blemishes on her work record, including a revoked real estate license.

State records show that Jenny Sepulveda’s real estate license was revoked last year. The Illinois Department of Financial and Professional Regulation said she failed to provide certain records during an investigation, and she wrote two checks — one to return escrow money and another to return a rental property deposit — that bounced, records show. She also has been sued, Cook County records show.

Sepulveda, through a Guaranteed Rate spokeswoman, said her license was suspended for one year and was revoked voluntarily when she decided not to continue with the required education and not to pay a $2,000 fee.

She said the suspension was for mishandling a rental check but that all documents were provided to the state.

Guaranteed Rate’s general counsel, chief operating officer and personnel chief are also all aware of Sepulveda’s record, Ciardelli said.

“We got the story from her,” Ciardelli said Monday on his way to the White Sox home opener, which ended up being rained out. Guaranteed Rate recently bought the naming rights to the home of the White Sox. “But people make mistakes, and she paid for it.”

He called her a “spectacular” employee who is doing a “great job.”

In her job, which he estimates she has been in for about six months, Sepulveda helps loan officers contact real estate companies to develop new business.

“We stand by her,” said Ciardelli, who blames disgruntled former employees for trying to create problems for Sepulveda because she had to lay off some workers in her department.

“I hired Jenny,” he said. “She personally walked into a mess.”

Guaranteed Rate has about 3,400 workers, and Ciardelli said he believes the company would miss out on good employees if it didn’t look beyond checkered periods in people’s pasts.

“We don’t see her as a threat at all,” said Ciardelli, noting that she’s not involved in any financial role.

e-mail writer: byerak@chicagotribune.com
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