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Mortgage

Guaranteed Rate expanding in Hawaii, acquires assets from two lenders

Buys "certain assets" from Honolulu HomeLoans, Hawaii Lending Alliance

Guaranteed Rate, already one of the nation’s largest retail mortgage lenders, is set to grow its business in Hawaii after the company acquired “certain assets” from a pair of Hawaii lenders.

Guaranteed Rate announced this week that it acquired assets from Honolulu HomeLoans and Hawaii Lending Alliance in a deal that will see employees from both companies join Guaranteed Rate.

“Hawaii is a growing market where we’ve already built a great team. Adding this opportunity will accelerate our market share dramatically,” said Guaranteed Rate Chief Executive Officer and Founder Victor Ciardelli. “I appreciate the hard work and commitment of the current Honolulu HomeLoans and Hawaii Lending Alliance employees during this transition.”

In connection with the deal, Guaranteed Rate will license new branch locations in downtown Honolulu and several other locations in the state, as well as maintain the company’s existing branch locations in Honolulu and Aiea.

Former HHL President and CEO Anders Hostelley will be joining Guaranteed Rate as a regional manager.

“I am thrilled that Honolulu HomeLoans and Hawaii Lending Alliance are becoming part of Guaranteed Rate,” Hostelley said.

What enables Guaranteed Rate to be a top retail lender in the country will certainly benefit our loan officers, Realtor partners and customers,” Hostelley continued. “Guaranteed Rate has cutting-edge technology coupled with excellent customer service and an outstanding base of products to offer our clients, which will enable us to excel as a mortgage lender in Hawaii.”

Guaranteed Rate said that the deal will allow the company to expand its presence in the state since many of the HHL/HLA loan officers who are joining Guaranteed Rate are fluent in international languages, including Vietnamese, Ilocano and Tagalog.

Financial terms of the deal were not disclosed.

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