Guaranteed Rate, real estate brokerage @properties partner to launch mortgage lending venture
Guaranteed Rate is already part of a joint venture with one of the nation’s largest real estate companies, with Guaranteed Rate Affinity marketing mortgages across the Realogy family of real estate companies, but Guaranteed Rate isn’t slowing down.
The company announced this week that is partnering with @properties, one of the biggest real
estate brokerages in the Midwest, to launch a new mortgage lending joint
The new company, which is set to launch in early 2020, will
be called Proper Rate.
According to the companies, the new mortgage company will “deliver
a high-end, customer-focused retail mortgage lending experience.”
@properties has 2,800 agents and 30 offices in Chicago,
surrounding suburbs, and Southwest Michigan, Northwest Indiana, and Southeast
Wisconsin. The company bills itself as the “largest residential brokerage firm
in the Chicago metro area.”
And now, @properties real estate agents will be able to
offer a mortgage experience powered by Guaranteed Rate.
“We have a vision for an independent mortgage company built
around relationships between borrowers, real estate agents, loan originators
and other key stakeholders in the real estate transaction,” @properties
Co-founder and Co-CEO Thad Wong said. “In Victor and Guaranteed Rate, we
found a partner that is eager to help us realize this vision while leveraging
industry-leading technology, systems and support.”
Wong’s partner as co-founder and co-CEO, Mike Golden, said
that the move will help the brokerage customers and agents alike.
“Proper Rate will allow us to more seamlessly integrate the
entire real estate transaction, from brokerage to mortgage financing to title
and closing services, resulting in a better experience for the consumer and
increased value for the real estate agent and loan originator managing the
transaction,” Golden said.
According to the companies, Proper Rate’s loan origination
platform will feature a “complete digital mortgage, an easy-to-understand,
transparent loan process with competitive pricing” and expertise from loan
“This is a unique opportunity for us to accelerate growth by working together with one of our most trusted and best-in-class business partners,” said Guaranteed Rate Founder and Chief Executive Officer Victor Ciardelli. “Thad and Mike have built an incredible business over the
last two decades and we are thrilled to form this joint venture with them,”
Ciardelli added. “@properties has a proven track record of creative innovation,
seamless operations and strong brand loyalty. We are very much looking forward
to introducing Proper Rate to homebuyers in select markets across the U.S.”
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