Guaranteed Rate Announces Management Changes in New York
Guaranteed Rate, one of the ten largest retail mortgage lenders in the nation, announced management changes in its New York operations.
Richard Fedele, who currently serves as regional manager for New England, will become regional manager overseeing Guaranteed Rate’s mortgage lending operations in the state of New York. Fedele has managed one of the company’s top-producing regions and is regarded as an industry leader in assembling high-performing loan origination teams.
He replaces Melissa L. Cohn, who joined Guaranteed Rate in 2012 when Guaranteed Rate purchased the assets of Cohn’s firm, Manhattan Mortgage.
“Rick is a great choice to head up our continuing efforts to expand in the New York market and further our relationships with real estate professionals, builders and home buyers in the area. New York is a critical market that we’re committed to growing, and Rick’s a natural leader with experience in the city overseeing one of our Manhattan branches,” said Victor Ciardelli, president and CEO of Guaranteed Rate. “We’re sorry to see Melissa go, but we thank her for all her hard work and wish her success moving forward.”
Guaranteed Rate has seven locations in New York, including three in New York City. Fedele’s team will join him in supporting his new role: Terry Baker will continue as Fedele’s head of regional sales, and Norm Johnson will continue as his regional operations manager. The rest of the company’s management team in the city remains intact: branch managers Shaul Betesh, David Fallarino and Sandy Mozes; and regional operations manager Tom Sculco. Guaranteed Rate’s local marketing service agreements with real estate partners in New York will be unaffected by the changes and the company will continue its strong support of the local real estate community. The company continues to hire top loan originators and mortgage professionals in the city, as well.
Guaranteed Rate has grown from their inception in 2000 to become one of the ten largest retail mortgage companies in the U.S., funding nearly $16 billion in loans in 2013 alone. The company has been able to expand successfully to other key markets through a business model that allows top originators to join the company and close more loans faster through Guaranteed Rate’s commitment to technology, pricing, process and support. The company now has more top loan originators in the annual national rankings from mortgage industry publications Mortgage Executive, Scotsman Guide and Origination News than any other bank or mortgage company.