Guaranteed Rate Strikes Deal to Accelerate Direct-to-Consumer Growth
February 5, 2021 (CHICAGO) – Guaranteed Rate, one of America’s top 5 retail mortgage lenders, announced today that it has acquired Owning Corporation, a leading direct-to-consumer mortgage platform based in California.
The acquisition bolsters Guaranteed Rate’s industry-leading platform and builds on its multichannel growth strategy.
Owning funded over $20 billion in total loan volume in 2020 leveraging its technology and integrated processes to reduce the time and cost involved in residential real estate transactions. The acquisition allows Guaranteed Rate to accelerate its growth in the rapidly growing Direct-to-Consumer channel.
"We’re actively seeking strategic acquisition opportunities to strengthen our position in growth channels,” said Guaranteed Rate President and CEO Victor Ciardelli. “The addition of Owning complements our existing Consumer Direct business, building on our momentum and further accelerating expansion in that segment.”
The acquisition comes at a time of significant growth for Guaranteed Rate, which recorded its best production year ever in 2020. The agreement further solidifies Guaranteed Rate’s track record of strategic transactions, including its recent agreement to acquire Stearns Holdings, LLC, which was announced on January 5. The company also previously entered into joint ventures with Realogy Holdings Corp. (NYSE: RLGY), a global leader in residential real estate franchising and brokerage, and @properties, one of the nation's largest residential brokerage firms.
Inquires related to acquisition opportunities can be directed to [email protected].
About Guaranteed Rate Companies
The Guaranteed Rate Companies, which includes Guaranteed Rate, Inc., Guaranteed Rate Affinity, LLC, and Proper Rate, LLC, has more than 9,000 employees in over 750 offices across the United States. Headquartered in Chicago, Guaranteed Rate Companies is one of the largest retail mortgage lenders in the United States, funding over $73 billion in 2020. Founded in 2000 and located in all 50 states and Washington, D.C., Guaranteed Rate Companies has helped homeowners nationwide with home purchase loans and refinances. The company has established itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. 2017 marked the launch of Guaranteed Rate Affinity, LLC, a mortgage origination joint venture between Guaranteed Rate, Inc. and Realogy Holdings Corp. (NYSE: RLGY), a global leader in residential real estate franchising and brokerage. In 2020, the company launched Proper Rate, LLC, a mortgage origination joint venture between Guaranteed Rate, Inc. and @properties, one of the nation's largest residential brokerage firms. Collectively, the Guaranteed Rate Companies have earned honors and awards including:Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire’s 2020 Tech100 award for the company’s industry-leading FlashCloseSM technology; No. 3 ranking in Scotsman Guide's Top Retail Mortgage Lenders 2019; Chicago Agent Magazine’s Lender of the Year for five consecutive years; Chicago Tribune's Top Workplaces list for seven consecutive years. Visit rate.com for more information.