Scotsman Guide > Rankings > Top Lenders 2013 > Guaranteed Rate Inc #1 Top Overall Vol

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Top Mortgage Lenders 2013: #1 Top Overall Volume 

 

Guaranteed Rate Inc.  

 

After ranking No. 2 on Scotsman Guide’s Top Overall Volume list last year, Guaranteed Rate now stands as king of the hill. The Chicago-based company closed more than $15.9 billion worth of loans in 2013, an increase of nearly 8 percent from its 2012 production. Guaranteed Rate’s president and CEO, Victor Ciardelli (pictured), shared with us the company’s five keys to success:

1. Focus on originators

How we've built the organization and created the success that we have is focusing on the loan officers — giving them a platform to grow and build their purchase business. The average [growth our originators achieve] is over 100 percent.

2. Low rates and unique products

We’re the sixth-largest jumbo lender in the country right now, and we’re expanding our new construction product. We have a ton of condo and co-op programs where we sell direct to Fannie [Mae] and Freddie [Mac].

3. Help your referral partners

We did such a good job helping [our originators] be more efficient and grow their business that we wanted to build a website called Partner Xchange that provides [real estate agents] with value, as well. We go out to real estate agents around the country and interview them on what’s made them successful, and we’re using those coaching videos to provide our Realtor partners with ideas about how they can be more efficient, build their business, manage their team, market to their database, [etc.].

4. Robust technology

We built, on the front end, a website that provides the consumer the ability to get a customized rate quote and fill out a detailed, interactive 1003. It will run credit for the borrowers at no cost to them, and it will run the loan through Freddie Mac’s automated underwriting engine, Loan Prospector. They can do all that in about 15 minutes and get a full loan approval at no cost to them.

5. Customer service

There’s a survey that goes out to all of our customers, and over 77 percent of our customers say that they would refer us to their friends and family, and over 95 percent of them are satisfied with the service. So, we gauge the customer’s experience and make sure that the customer is happy. (RF)



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