Politics & MoneyReal Estate

Secret sauce behind Guaranteed Rate recent success

It’s not everyday a company can claim a 112% boost in loan originations year-over-year and a 183% jump in revenue over the same time period, making it No. 1 in growth for all private companies based in Illinois. 

But that’s just what Guaranteed Rate told HousingWire in a recent interview.

Jumping dramatically from the 16th largest retail mortgage company in the beginning of 2012 to no. 8 in 2013, according to MortgageStats.com, Guaranteed Rate seems to be doing something right. So what is the company’s secret sauce? 

“It’s not about the dollars and cents,” said Founder and CEO Victor Ciardelli, who adds that his company’s office atmosphere keeps employees happy and happy employees equal happy customers.

In fact, Guaranteed Rate is the lender with the fewest complaints per CFPB’s recent report, with only eight complaints recorded. This totals 1.02 complaints per 10,000 loans, the company claims. Quicken Loans had the next fewest complaints with 3.61 per 10,000 loans, followed by USAA with 10.44.

Ciardelli notes that really only three of four of those eight relate directly to the customer service aspect of his company. 

Ciardelli told HousingWire that his goal for the near future is growth, specifically in big cities like California and New York.

Most Popular Articles

PennyMac warns mortgage originators that forbearance buybacks could be coming

With the housing industry at large raising alarms about mortgage servicers’ desperate need for liquidity, the nation’s largest mortgage aggregator is now warning originators that it could force them to buy back loans that go into forbearance.

Apr 06, 2020 By

Latest Articles

Fed chairman urges caution on reopening economy

A day after President Donald Trump set an April 30 deadline for reopening the U.S. economy, Federal Reserve Chairman Jerome Powell urged caution.

Apr 09, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please