Guaranteed Rate Announces Name Change to “Rate”

Based in Chicago Guaranteed rateone of the nation’s largest mortgage lenders, has changed its name to RateThe company made the announcement on social media on Monday.

“Today, we’re rebranding to Rate,” the company said on LinkedIn. “Like our new name, we’re committed to making the mortgage process smoother, faster, and smarter, using AI to empower customers and loan officers. It’s more than a new name. It’s a new era.”

According to data from Scottish GuideLast year, Guaranteed Rate was the ninth-largest U.S. mortgage lender, originating more than 59,000 loans for a total volume of $21.7 billion. More recent data from Mortgage financing inside shows a total origination volume of $7 billion in the first quarter of 2024.

Also Monday, the company announced the hiring of Chris Knapp as president of Appropriate ratea joint venture between the lender and the real estate broker @properties. Knapp previously spent 11 years at Guaranteed Rate before joining CrossCountry Mortgage, Draper & Kramer Mortgage Company And Wintrust Mortgage.

In May, the bank announced the expansion of its community engagement initiative, which aims to promote homeownership in underserved communities, while focusing on retaining a diverse group of employees. In April, it made two other key leadership appointments, promoting CJ Rose to executive vice president of growth and acquisitions and hiring Chris Hutchens as North Carolina production area manager and senior vice president of mortgage lending.

The Chicago Tribune recently published an investigation into the company in which a number of former employees accused CEO Victor Ciardelli of fostering a toxic work environment. The company has denied the allegations.

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