Shant Banosian, one of the nation’s most successful loan originators, has been named president of Chicago-based Rate.

Rate CEO Victor Ciardelli made the announcement today, saying he and Banosian will work together to help take Rate to the next level of innovation and excellence in the industry. Ciardelli will continue to work closely with the presidents of all 15 Rate companies, reinforcing Rate’s status as one of the nation’s top mortgage lenders and a pioneer in fintech.

During nearly two decades with Rate, Banosian has funded more than $10 billion in total loan volume and secured his place as one of the top loan officers in the nation. Ciardelli described Banosian as “the best of the best in the industry.”

“There is not a better loan professional on the planet to lead Rate to its next level of dominance,” Ciardelli said. “He is a leader and a teacher, all in one, and will build the best team of loan officers in the industry.”

Banosian, who has closed more than 40,000 loans, has worked for Rate since 2007. As president, Banosian said his focus will be on driving innovation, increasing efficiency and fostering an environment where every member of the team has the “CEO mentality,” in which they think about how to grow the company.

The Massachusetts native whose office remains in Waltham, outside Boston, says he plans to stay with his current team, but will travel around the country, visiting Rate offices and helping team members reach their potential by focusing on leveraging technology, building high-performance teams and offering exceptional customer service.

“One of the big keys for Rate is that we have a very distinct value proposition that we are able to communicate,” Banosian said. “I also want to continue to help this company develop an amazing culture of high performance but also understands work-life balance.”