Guaranteed rate acquires company owner of DTC lender


Fresh out of his the acquisition of Stearns, Guaranteed rate picked up Owner company, a direct-to-consumer mortgage lender.

The acquisition gives Guaranteed Rate, better known for its retail prowess, another engine to drive growth in the direct-to-consumer channel.

Terms of the deal with Orange, Calif.-Based Owning were not disclosed.

According to the Guaranteed Rate, Owning’s direct-to-consumer platform processed over $ 20 billion in total loan volume in 2020.

“We are actively seeking strategic acquisition opportunities to strengthen our position in growth channels,” Guaranteed Rate President and CEO Victor Ciardelli said in a statement. “The addition of Owning complements our existing Consumer Direct business, leveraging our momentum and further accelerating our expansion in this segment.”

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Like virtually all residential mortgage lenders, the Chicago-based guaranteed rate had its best year of 2020, generating around $ 73 billion in mortgages.

Early January, he acquired Stearns Holdings, a multi-channel lender that generated around $ 20 billion in 2020.

With the acquisitions of Stearns and Owning, the guaranteed rate is now stable at profitable joint ventures, some of the countries top performing personal loan officers, access to the wholesale channel and a stronger direct-to-consumer platform to develop its refi business.

The Guaranteed Rate, founded in 2001 in Chicago, is now one of the top 10 mortgage lenders in the United States. Ben cohen and Shant Banosian.

According to the NMLS, Owning has 62 loan officers and was formed in 2018. The company appears to be licensed only in California. He specializes in low-rate mortgage refinancing, in which he issue a loan no closing costs including appraisal, credit report, escrow and title. The company also has a zero-down payment mortgage program in California and several programs that appear to be related to iBuying.

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