Guaranteed Rate

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Guaranteed Rate, Inc.
Industry Mortgage
Founded 2000
Founder Victor Ciardelli
Headquarters Chicago, Illinois, United States
Number of locations
Products Mortgage
Number of employees

Guaranteed Rate Inc., is a U.S. residential mortgage company headquartered in Chicago, Illinois. Founded in 2000 by Victor Ciardelli, the company was a top 5 mortgage lender in 2016 with $22.9 billion in funded volume.[1] As of 2017, the company has approximately 3,400 employees and 215 offices nationwide and has licenses in 50 states.[2] In 2013, Guaranteed Rate was listed as one of the fastest growing companies in Chicago.[3]


Guaranteed Rate was founded in Chicago in 2000 by Victor F Ciardelli III. The company is now a top 5 retail mortgage lender with approximately 3,400 employees in 215 offices across all 50 states. Guaranteed Rate has funded over $100 billion in home loans since inception and $22.9 billion in 2016.[4]

In 2013, Guaranteed Rate grew to more than $15.9 billion in residential home loans, an increase of $1.2 billion over 2012.[5][6] This moved the company from the 12th-largest retail mortgage lender in the U.S. to the 10th.[7]

Guaranteed Rate was named to the Chicago Tribune's Top Workplaces list in 2012, 2013, 2014, 2015 and 2016.[8][9]

As of June 2018 the company is rated 2.6 (out of 5) on, continuing a steady downward trend since August 2017.[10]

In February 2014, Guaranteed Rate launched its first national ad campaign, featuring Ty Pennington.[7] The company budgeted up to $10 million for the campaign, growing to as much as $15 million in 2015.[7] A 2016 Guaranteed Rate Super Bowl commercial featuring Ty Pennington was aired in a number of regional markets.[11]

In 2015, Guaranteed Rate became the 8th largest retail mortgage lender with volume of more than $18 billion in home loans and was named Lender of the Year by Chicago Agent magazine.[12] In July, the company released the World’s First Digital Mortgage, an online home loan application.[13]

In March 2016, Guaranteed Rate and one of its loan officers were found guilty in California of diverting loans from Mount Olympus Mortgage, and ordered to pay $25 million in damages to the Irvine, California-based company. Guaranteed Rate denied any involvement and is pursuing appeal.[14]

In May 2016, the company released the Intuitive Loan Finder, an online tool that helps homebuyers find a mortgage.[15] During the same month, Guaranteed Rate bought the URL for $725,000.[16]

In August 2016, the Chicago White Sox announced a 13-year agreement with Guaranteed Rate to rename their stadium to Guaranteed Rate Field beginning November 1, 2016.[17]

In March 2017, Guaranteed Rate announced their intent to add 280 more employees to its online sales division.[18]

In 2017, Guaranteed Rate entered into a joint venture with Realogy Holdings Corp to form Guaranteed Rate Affinity. Guaranteed Rate will provide marketing services to Reology's subsidiaries, including NRT and Cartus, and will take over some assets of its former joint venture partner, PHH Mortgage out of New Jersey.[19]

In December 2017, a former loan officer sued Guaranteed Rate claiming that he was owed $2 million and that executives at the company were manipulating and misreporting financial information for their own benefit.[20]

In January 2018, Guaranteed Rate announced that it was the victim of an email phishing that breached employees' and customers' personal information. [21]


In 2012, Guaranteed Rate acquired Manhattan Mortgage, a residential mortgage brokerage in the New York Metropolitan Area.[22] Founded in 1985 by Melissa L. Cohn, the company employed more than 100 home loan professionals and originated loans in New York, Vermont, Massachusetts, Connecticut, Florida and New Jersey.[23] Cohn later sued Guaranteed Rate and CEO Victor Ciardelli for breach of contract and fraud among other complaints but was unsuccessful.[24][25]

In 2014, Guaranteed Rate acquired Sun State Home Loans, Nationwide Direct, and Arbor Mortgage in one deal.[26] In also acquired lender FirsTrust Mortgage in Overland Park, Kansas.[27]

Awards and accolades[edit]

  • Guaranteed Rate recognized as one of the most successful private companies in the U.S. for a fifth consecutive year by Inc. Magazine[28]
  • Guaranteed Rate named a top private U.S. job creator by Inc. Magazine[28]
  • Guaranteed Rate ranked as a top workplace by the Chicago Tribune in 2012, 2013, 2014, 2015 and 2016[8][9]
  • Guaranteed Rate was named the Lender of the Year by Chicago Agent Magazine[29]
  • Founder and CEO, Victor Ciardelli, III was named an Ernst & Young Entrepreneur of the Year Award winner in 2012[30]
  • Guaranteed Rate wins Moxie Award For Best Corporate Digital Innovation 2013 for Guaranteed Rate's Online Mortgage App[31]


  1. ^ "Top overall volume/Top mortgage lenders 2016". Scotsman Guide. 2017-08-23. Retrieved 2017-08-23. 
  2. ^ "Find An Office Near You". Guaranteed Rate. Retrieved 2017-08-28. 
  3. ^ "Fast Fifty". Crains Business. Retrieved 2013-06-01. 
  4. ^ "Top Overall Volume/Top Mortgage Lenders 2016". Scotsman Guide. Retrieved 2017-08-23. 
  5. ^ "Guaranteed Rate launches TV ads with Ty Pennington". Crain's Chicago Business. 2014-01-13. Retrieved 2014-01-13. 
  6. ^ "Victor Ciardelli, president and CEO, Guaranteed Rate Inc". Smart Business. 2012-07-01. Retrieved 2013-02-14. 
  7. ^ a b c "Yes, that's Ty Pennington in those Guaranteed Rate ads". Crain's Chicago Business. 2014-01-14. Retrieved 2014-10-10. 
  8. ^ a b "Chicago Tribune Top Workplaces". Chicago Tribune. Retrieved 2015-11-01. 
  9. ^ a b "Chicago Tribune Top Workplaces". Chicago Tribune. Retrieved 2017-08-23. 
  10. ^,26.htm
  11. ^ "Ty Pennington in Super Bowl to promote home mortgages instead of makeovers". Chicago Business Journal. 2016-02-01. 
  12. ^ "Lender of the Year: Guaranteed Rate". Chicago Agent Magazine. 2016-10-17. 
  13. ^ "World's First Digital Mortgage Yields Industry First with a Fast and Secure Way to Apply for a Mortgage". PR News Wire. 2015-07-08. 
  14. ^ "Guaranteed Rate ordered to pay $25M in alleged loan diversion scheme". Chicago Tribune. 2016-03-26. Retrieved 2016-03-26. 
  15. ^ "Guaranteed Rate Launches Intuitive Loan Finder to Help Customers Find the Perfect Loan". Yahoo Finance. 2016-05-03. 
  16. ^ "Kate Buckley just brokered the sale of to for $725,000". 2016-06-06. Retrieved 2016-06-06. 
  17. ^ "White Sox changing ballpark name to Guaranteed Rate Field". ESPN. 2016-08-25. 
  18. ^ "Guaranteed Rate to add 280 Chicago employees as part of major expansion". Chicago Tribune. 2017-03-01. 
  19. ^ "Realogy, Guaranteed Rate announce new mortgage venture as PHH backs out". 2017-02-15. 
  20. ^ Marotti, Ally. "After Guaranteed Rate sued him, alleging he poached employees, former executive countersues, claims he's owed more than $2 million". Retrieved 2018-02-09. 
  21. ^ "Email phishing hack puts Guaranteed Rate clients, staffers at risk". Crain's Chicago Business. Retrieved 2018-02-09. 
  22. ^ "Guaranteed Rate purchases Manhattan Mortgage". Housing Wire. 2012-08-30. Retrieved 2013-02-14. 
  23. ^ "Manhattan Mortgage Company Joins Guaranteed Rate". Guaranteed Rate. 2012-08-28. Retrieved 2013-02-14. 
  24. ^
  25. ^ COHN v. GUARANTEED RATE INC.,, 2015-09-15, retrieved 2013-09-15 
  26. ^ "Grand Rapids mortgage firm acquired by Guaranteed Rate of Chicago". MLive/Grand Rapids Press. March 3, 2014. Retrieved 2013-10-10. 
  27. ^ "Guaranteed Rate to Acquire FirsTrust Mortgage in Kansas". Origination News. Jul 8, 2014. Retrieved 2014-10-10. 
  28. ^ a b "Guaranteed Rate Company Profile by Inc. Magazine". Inc. Magazine. 2013-05-15. Retrieved 2013-05-15. 
  29. ^ "Lender of the Year Guaranteed Rate". Chicago Agent Magazine. 2011-11-07. Retrieved 2013-05-15. 
  30. ^ "2012 Midwest Award Winners". Ernst & Young. 2012-06-21. Retrieved 2013-05-15. 
  31. ^ "2013 Moxie Award Winners". Built In Chicago. 2013-06-05. Retrieved 2013-09-16. 

External links[edit]