Feb
24

Guaranteed Rate is One of the Top Mortgage Lenders in the United States

February 24, 2013

mortgage approvalChicago-based Guaranteed Rate is a home loan company success story, as the lender has grown from a small local firm to a nationally recognized name.

Originally founded in 2000, Guaranteed Rate began with just one Chicago office. Now, the mortgage lender is among the top 20 in the U.S. and boasts more than 140 offices located across the country. Since its inception, Guaranteed Rate has provided more than $35 billion in home loans.

However, Guaranteed Rate isn’t the only lender that is gaining in marketshare. In 2012, the five biggest mortgage lenders in the U.S. controlled 53 percent of the market, a decrease from 66 percent of the market in 2010, according to Inside Mortgage Finance data. Now, it is predicted that small lenders will continue to grow, mainly because they are more willing than ‘big five’ banks to work with first-time or low-income home buyers.

Guaranteed Rate is also different from many mortgage companies because their loans are self-funded, originated by the company and not brokered to outside lenders, which helps them maintain better control of the loan process. In the first half of 2012, the lender originated $5.5 billion in mortgages, which placed the company as the third-fastest growing lender among the top 25.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

1 Comments

1

As a Realtor in La Grange, I love working with Guaranteed Rate. I know the funds will always be there when we get to the closing table.

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