Guaranteed Rate acquires 3 mortgage firms with $500M in annual production

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Chicago-based Guaranteed Rate, which claims to be one of the top 10 U.S. retail mortgage companies, has acquired three smaller mortgage originators based in Arizona, California and Michigan.

The three companies — Sun State Home Loans, Nationwide Direct, and Arbor Mortgage — have more than 50 employees and originate more than $500 million in mortgages a year, the company said.

Guaranteed Rate has 175 offices around the U.S. and is licensed in all 50 states. Source: marketwired.com.