Lender explains strategy behind new identity
Guaranteed Rate issued a statement Tuesday explaining the reasoning behind its recent rebrand to “Rate.”
“This transition to ‘Rate’ marks a significant milestone in our company’s evolution,” Rate CEO Victor Ciardelli said in a release sent to MPA via email. “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 Chicago-based lender, which operates more than 850 branches across all 50 states and Washington D.C., emphasized that the rebrand represents more than just a cosmetic change.
“Rate’s rebrand is more than just a name change; it represents a new era of growth and innovation,” Ciardelli added. “The company remains dedicated to delivering high-quality service and leveraging cutting-edge technology to improve the mortgage experience for all.”
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Rate said the rebranding process will be implemented gradually, with updates to all company materials, including its website and social media channels. The lender offered assurances that the change will not affect current operations or mortgage loan officer licenses.
The company also announced plans to expand its range of financial products and services, including reverse mortgages, home equity loans, personal lending, and homeowners’ insurance. It claimed that customers can expect faster approvals and a smoother path to closing, while loan officers will benefit from reduced paperwork and increased efficiency.
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“This expansion is part of Rate’s strategy to integrate technology across comprehensive financial solutions that meet the evolving needs of its customers,” Rate said.
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