New Mortgage Company Proper Rate Opens For Business

Proper Rate LLC, a joint venture of Guaranteed Rate and @properties, begins originating mortgages today.
 
Powered by one of the nation’s largest retail mortgage companies, with access to competitive mortgage rates, Proper Rate aims to deliver the advantages of a big lender with the hands-on feel of a “boutique” firm. Proper Rate offers home loans to home buyers throughout select regions in the country, including those represented by @properties’ 2,800 agents.
 
Victor Ciardelli, president & CEO of Guaranteed Rate Companies and chairman of Proper Rate, said. “Our goal with this collaboration is to accelerate market growth, while ensuring customers have a digital mortgage experience from beginning to end with some of the industry’s most talented originators and partners.”
 
Proper Rate provides an integrated solution where clients can get financing in addition to finding homes and negotiating purchases. Using the FlashClose technology, Proper Rate borrowers will be able close on loans signing most documents remotely.
 
“Proper Rate allows us to integrate the entire real estate transaction, from brokerage to mortgage financing to title and closing services, resulting in a better experience for the consumer and increased value for the real estate agent and loan originator managing the transaction,” said @properties co-founder and co-CEO Mike Golden.
 
Proper Rate’s loan officers are based in offices throughout Chicago and select markets across the U.S., led by mortgage industry veteran Dan Moran, executive vice president of sales. The company, which is currently licensed in 15 states, is also seeking licensing in Arizona, California and Virginia.