Guaranteed Rate has announced that it has reached an agreement to purchase the assets of the San Francisco SOMA branch of Guarantee Mortgage, an independent mortgage company based in Northern California.
The branch has more than 25 employees and was responsible for more than $435 million in loan production in 2013. The office is led by managing partners Dean Rizzi, C.J. Kerls and Stephen Barber. Rizzi, Kerls and Barber are among the top loan originators in the nation, and their team has averaged between $400 and $500 million in loan production over each of the past five years.
“We’re very excited to be bringing Dean, C.J. and Stephen’s team aboard,” said Victor Ciardelli, president and CEO of Guaranteed Rate. “They are a perfect fit for our strategic growth strategy, as their team is among the top producers in California and they believe strongly in our value proposition of making the mortgage process simpler and more transparent for customers. Their addition will further solidify Guaranteed Rate’s already strong presence in San Francisco.”