Not just a new name — a new era in mortgage
Guaranteed Rate, one of the nation’s leading mortgage lenders, is excited to announce a major rebranding initiative. Effective immediately, the company will be known simply as “Rate.” This change reflects the company’s commitment to innovation, simplicity and a seamless customer experience in the fintech and mortgage industries.
“Rate’s rebrand is more than just a name change; it represents a new era of growth and innovation. The company remains dedicated to delivering high-quality service and leveraging cutting-edge technology to improve the mortgage experience for all,” said Victor Ciardelli, CEO of Rate.
“This transition to ‘Rate’ marks a significant milestone in our company’s evolution. For over two decades, we’ve been at the forefront of technological advancements in the mortgage industry. Our new name is a natural progression that aligns with our mission to simplify and modernize the mortgage process for our customers and partners.”
The new name “Rate,” is a concise, modern identity that encapsulates the company’s mission to provide efficient and straightforward financial solutions powered by best-in-class technology. It reflects a unified brand across all products and services, emphasizing simplicity and ease of use. From launching the first digital mortgage application to implementing AI-enhanced underwriting, Rate continues to set industry standards. The rebrand reinforces the company’s position as a fintech leader and commitment to constant innovation.
With that in mind, we’d like to take you through this update highlighting what will change moving forward and what will remain the same.
Why the change?
As the title says, we are taking this opportunity to start a new chapter in Rate's story. We're already known for pushing the envelope of what's possible in the mortgage industry. This change is an affirmation of our deep commitment to leveraging the latest in technology and the sharpest minds in the business to deliver a flawless experience to our customers. Further, we want to collectively work under a banner that's more emblematic of who we are today as an industry-leading fintech.
This transition to the new Rate branding will be gradual, covering all company materials from our website to social media. This update won’t impact your current operations or our MLO's licenses in states that have already approved “Rate.” The exception to this change will be a continuation of “Guaranteed Rate” in New York, Louisiana and Tennessee due to regulatory reasons. Check out our updated FAQ for more details and exceptions.
Our services remain world-class
First, here's what won't change with our new name: our service, support and reliability. The same level of quality and attention to detail will remain in place. Our driving goal is still to provide the best mortgage experience possible with all of the reliability and expertise that implies. If anything, this change is our cue to double down on those things to make what is great even greater.
What this change means to you
Talking about change is all well and good, but what will it mean to you? Well, our focus has been — and will continue to be — a tech-powered mortgage experience that's fast and easy for homebuyers to use. We already have that in place, especially in how we leverage AI-enhanced underwriting, but we have big plans on how to lean into emerging technology even more to further enhance how our customers use and benefit from our service.
Specifically, here are two of our overarching goals as we move forward with this change:
- Growth Opportunities: Our cutting-edge tech already supports top-notch financial products that reduce stress and provide great value, setting us up for long-term success. We plan to continue refining and upgrading our systems for maximum effectiveness and user experience.
- Streamlined Processes: The mortgage process is complex, but as Rate, we promise a simpler and more efficient experience, giving our loan officers new tools to make the process smoother for our customers.
To achieve these goals, we have three new tools to help make this a reality:
- Rate App: Our flagship app combines physical and financial wellness unlike any other app. It’s here to help members improve their lives through an enhanced experience, making Rate an essential part of their journey with us both now and in the future.
- Same Day Mortgage: Our AI-enhanced service allows loans to be closed with unparalleled speed and ease. Qualifying loans could be clear to close in 24 hours and close in as little as 10 days. This is an incredible boon to homebuyers competing with all-cash buyers.
- PowerBid Approval: Our method of pre-approval is a way to ensure potential homebuyers begin with power on their side. Our verification process is simple, with approvals in as little as five minutes. This also allows buyers to compete with all-cash offers and demonstrate to sellers that the bid is solid so they can close swiftly with minimal complications.
The road ahead
Our hope is that when we look back to this moment in time, we will see it not only as a new chapter but also as a turning point. Our efforts to date have pushed the mortgage industry forward and we're going to continue doing that each and every day in a big way.
With the tools, technology and talent that we have, we will continue on our mission to make personal finance faster, simpler and smarter. That is what Rate means to us and — in the very near future — what we hope it will mean to you.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. d/b/a/ Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. d/b/a/ Rate. Guaranteed Rate, Inc. d/b/a/ Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.