Guaranteed Rate Announces Three New Acquisitions
Guaranteed Rate has announced that three firms recently joined the company. The transactions, structured as asset purchases, included Sun State Home Loans of Scottsdale, Ariz.; Nationwide Direct Mortgage of Carlsbad, Calif.; and Arbor Mortgage of Grand Rapids, Mich. The three firms have more than 50 employees combined and represent more than $500 million in annual loan production volume. The three firms recently completed their transition to Guaranteed Rate after joining during the fourth quarter of 2013.
“These three firms have a stellar reputation for customer service and employ some of the top loan originators in the country,” said Victor Ciardelli, president and CEO of Guaranteed Rate. “They are a perfect fit for Guaranteed Rate and help further our efforts to provide low rate, low fee mortgages in several key major markets.”
Sun State Home Loans: Founded in 1997 by Mike Metz, Sun State has been a leading lender in the Phoenix-Scottsdale area. Metz can also be heard regularly on KFNN-AM Radio in Phoenix, where he serves as their mortgage banking correspondent.
Nationwide Direct: With offices in the San Diego and Denver areas, Nationwide Direct was founded in 2009 by Glen Steward and Bonita Bischoff. This team has been added to Guaranteed Rate’s Online Division.
Arbor Mortgage: Founded in 1998 by R.J. Kistka and headquartered in Grand Rapids, Mich., Arbor has been a leading mortgage lender in Michigan and surrounding states operating a direct mortgage lending program. They also have offices in Indianapolis, Ind. and Richardson, Texas.
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