Guaranteed Rate Expanding Mortgage Lending Presence in Mid-Atlantic
Guaranteed Rate, one of the ten largest retail mortgage companies in the nation, announced plans for a major expansion of its operations in the Mid-Atlantic region and the addition of a new head of regional sales and operations for Washington, D.C., Maryland, Virginia, and North Carolina.
Pat Casey, who increased mortgage loan volume from $85 million to $3.6 billion during his 25-year tenure at SunTrust and Crestar Mortgage, has joined Guaranteed Rate as its new regional manager, responsible for mortgage lending in the Mid-Atlantic corridor. He’ll also be responsible for recruiting top area loan officers, branch managers, and underwriters, as Guaranteed Rate plans to open a number of new locations in the region over the next year. The company’s newest Washington D.C.-area locations will be announced and open later this spring.
“Pat’s philosophy matches that of Guaranteed Rate perfectly,” said Tom Gamache, Guaranteed Rate’s national director of retail production. “He believes in making mortgages simple and more transparent with low fees. His experience and long track record of success in the Washington, D.C. market makes him the ideal person to lead our new growth strategy in the region.”
Guaranteed Rate has grown from their inception in 2000 to become one of the ten largest retail mortgage companies in the U.S., funding nearly $16 billion in loans in 2013 alone. The company has been able to expand successfully to other key markets through a business model that allows top originators to join the company and close more loans faster through Guaranteed Rate’s commitment to technology, pricing, process and support.
“Guaranteed Rate’s innovative operational and sales model attracts the best loan originators in each city we are in, and that’s what drew me to the company,” said Casey. “I’m excited to be a part of such a superbly talented and passionate team that provides low rates and an unparalleled customer experience in the mortgage industry.”
Casey, who holds the Certified Mortgage Banker designation, most recently was senior vice president and divisional manager at SunTrust, joining the company when his previous firm, Crestar Mortgage, was acquired by the bank in 1998. In this role, he was responsible for managing sales operations, underwriting, and all bank channel sales for 31 branches in the Washington D.C. market and overseeing more than 350 associates. Prior to that, he was a vice president with CityFed Mortgage in Rockville, Md. He also worked as a broker with Colquitt Carruthers Realtors in Bethesda, Md., and began his career with East Coast Resorts, Inc., in Bethany Beach, Del. He holds a degree in economics from Duke University, where he played football and lacrosse. He recently served on the Board of Governors for both the Mortgage Bankers Association of Metropolitan Washington where he was a past president, and the Maryland Mortgage Bankers Association, where he was named “Mortgage Banker of the Year” in 2010.