Guaranteed Rate continues to position itself in the market and has grown every year since its inception in 2000, which is quite a feat when you factor in the housing market crash in 2008.

Guaranteed Rate’s goal is to fund $18 billion in 2013, and so far this year, they have funded $9.4 billion through June.

“We expect a decrease in refinance activity in the second half of the year given the recent run-up in rates. With the recent strength in housing we do however have a strong purchase pipeline that should replace much of decline in refinances,” said Ted Ahern, chief financial officer with Guaranteed Rate.

The company has almost performed a complete 180-degree rotation and purchase volume now makes up 75% of its business. 

According to a recent report by the Mortgage Bankers Association, "Refinance application volume continues to decline, with the refinance index now more than 55% lower than its recent peak, reaching the lowest level in over two years," said Mike Fratantoni, MBA’s vice president of research and economics.

But despite this, Guaranteed Rate has managed to grow since it never stopped pushing its refinance business.

Ahern said: “Throughout the refinance boom Guaranteed Rate put a huge amount of time and resources into enhancing our relationships with Realtors, our biggest referral source for purchase transactions. We've invested significantly in technology and outreach to help our realtor partners grow their own business. This has always been our business model and it is really paying off now.”

Looking ahead, Ahern explained that the rest of the year should be challenging; however, those lenders that put a lot of effort into growing their purchase business throughout the refinance boom are positioned to gain market share in the coming quarters.