When I was in school, some frats had better reputations than others. There were some where the guys were considered smart and studious. They tended not to be the ones that had the big keggers or had alcohol poisoning incidents during hazing. Other fraternities thought of them as "pinheads" or "losers."
Some had reputations for having guys who were more mixed in terms of character, though in hindsight the fact that the "nicer" guys in these frats hung out with the not-so-nice ones surely said something about them. There were at least a couple at my campus, though, that were considered pretty dangerous places for women to go without someone at your back.
Both were known for serious hazing mishaps and rapes that were actually called rapes, even back then (and more incidents that we didn't quite think of as rape yet but we knew we didn't want to happen to us).
As for the snobby and exclusive part, that rep was reserved mostly for the sororities (though the fraternities were also exclusive). This is because the sororities did their recruitment via a fall formal rush which cost a lot of money, and while most women who participated got bids from at least one house, there were a few who didn't get any (lots of catty whispers about those). The fraternities had informal rush that involved a lot of drinking parties in the fall, so the initial process was more affordable, though I'm guessing it still cost a lot to be in one.
Another thing that was hard not to notice was how racially segregated most fraternities and sororities were.