Headquartered in Chicago Guaranteed rateone of the country’s largest mortgage lenders, has changed its name to speed. The company announced the news on social media on Monday.
“Today, we are changing our name to Rate,” the company announced on LinkedIn. “Like our streamlined name, we’re committed to making the mortgage process smoother, faster and smarter, using artificial intelligence to empower customers and loan officers alike. This isn’t just a new name. This is a new era .
According to data Scotland GuideLast year, Guaranteed Rate was the ninth-largest mortgage lender in the United States. It has originated more than 59,000 loans totaling $21.7 billion. The latest data comes from Inside Mortgage Finance Total issuance in the first quarter of 2024 is shown to be $7 billion.
Also on Monday, the company announced the hiring of Chris Knapp as president appropriate interest ratea joint venture between lenders and real estate brokerages @characteristic. Knapp is moving to Cross-border mortgages, Draper and Cramer Mortgage Company and Yongxin Mortgage.
In May, the bank announced the expansion of its community engagement program aimed at promoting homeownership in underserved communities while focusing on retaining a diverse employee base. The company also made two other key executive hires in April, promoting C.J. Rose to executive vice president of growth and acquisitions and hiring Chris Hutchens as North Carolina region manager and senior vice president of mortgage lending.
The Chicago Tribune recently published an investigation into the company, in which some former employees accused CEO Victor Ciardelli of creating a toxic work environment. The company denies the accusations.
