Renowned loan officer transitions into leadership to drive innovation and growth
Shant Banosian (pictured), one of the most prolific mortgage originators in the US, has been named president of Rate Mortgage, stepping into a leadership role after funding more than $10 billion in total loan volume over the past two decades.
The move places a record-breaking industry veteran at the forefront of Rate Mortgage as the company looks to expand its market presence and streamline operations.
Banosian, who has held the title of the nation’s top loan officer for six consecutive years, closed more than $1 billion in loans in 2024 alone. Now, he is shifting his focus from individual production to leading and developing Rate Mortgage’s loan officer network, working alongside Rate Companies CEO Victor Ciardelli to drive growth.
Banosian’s rise to the presidency follows years of record-setting production and an emphasis on education-driven lending. With more than 40,000 loans closed, he has built a reputation for strategic scaling, operational efficiency, and customer-focused service.
Ciardelli, who oversees 15 Rate Companies, including 10 mortgage firms, emphasized that Banosian’s leadership marks a pivotal moment for Rate Mortgage.
“There is not a better loan professional on the planet to lead Rate Mortgage to its next level of dominance,” Ciardelli said in a press release. “He is a leader and a teacher all in one and will build the best team of loan officers in the industry.”
Banosian’s appointment also fills a key leadership gap, as Rate Mortgage was the only Rate entity without a dedicated president. His focus will now shift toward strengthening Rate Mortgage’s loan officer platform, refining its technology offerings, and expanding its reach.
Banosian said his leadership approach will involve creating a “loan officer’s paradise,” a system where loan officers can grow their business efficiently while providing better service to clients, realtors, and business partners. He believes that mortgage professionals can double or triple their production if they have the right tools and support in place.
Read next: Record-breaking loan officer Shant Banosian reveals formula for success
Rate Mortgage operates under the broader umbrella of Rate Companies, which has over 850 branches across all 50 states and Washington DC. The company has positioned itself as one of the largest digital mortgage and financial services providers in the country.
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