@properties, a residential brokerage that also offers mortgage services, in conjunction with U.S. mortgage lender Guaranteed Rate, has launched a new mortgage company called Proper Rate. As of Monday, the new mortgage lender will begin originating mortgages to homebuyers and owners.
The lender is being marketed as a “boutique firm” that will offer loans to borrowers across 15 states. The company is also currently seeking licensing in Arizona, California and Virginia.
“We are excited to continue our long-standing relationship with @properties to jointly launch Proper Rate,” Victor Ciardelli, president and CEO of Guaranteed Rate Companies and chairman of Proper Rate, said in a press statement. “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.”
Through integrated services, Proper Rate will assist clients with their financing needs, as well as in finding a home and negotiating a purchase.
“Proper Rate allows us to seamlessly 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,” Mike Golden, @properties co-founder and co-CEO, said in a statement.
Its affiliation with @properties will provide Proper Rate with the company’s current technology offerings, and serve as a point of access to homebuyers of @properties’ 2,800 real estate agents. Likewise, access to Guaranteed Rate’s FlashClose technology platform will allow borrowers to sign most loan documents remotely.
“Proper Rate is well-positioned to serve customers and agents as a full-service lender,” Dan Moran, executive vice president of sales for Proper Rate, said in a statement. “We’re offering trusted expertise, service and technology to deliver a personalized experience.”
The new lender will have loan officers based in Chicago and other select markets in the U.S., led by Moran.