Guaranteed Rate Adds Sun State Home Loans, Nationwide Direct and Arbor Mortgage to Company
Guaranteed Rate, one of the ten largest retail mortgage companies in the nation, announced that three firms recently joined the company. The transactions, structured as asset purchases, included Sun State Home Loans of Scottsdale, Ariz.; Nationwide Direct Mortgage of Carlsbad, Calif.; and Arbor Mortgage of Grand Rapids, Mich. The three firms have more than 50 employees combined and represent more than $500 million in annual loan production volume. The three firms recently completed their transition to Guaranteed Rate after joining during the fourth quarter of 2013.
“These three firms have a stellar reputation for customer service and employ some of the top loan originators in the country,” said Victor Ciardelli, president and CEO of Guaranteed Rate. “They are a perfect fit for Guaranteed Rate and help further our efforts to provide low rate, low fee mortgages in several key major markets.”
Sun State Home Loans: Founded in 1997 by Mike Metz, Sun State has been a leading lender in the Phoenix-Scottsdale area. Metz has been a Mortgage Executive Magazine Top 200 producer for many years. He can also be heard regularly on KFNN-AM Radio in Phoenix, where he serves as their mortgage banking correspondent.
Nationwide Direct: With offices in the San Diego and Denver areas, Nationwide Direct was founded in 2009 by Glen Steward and Bonita Bischoff, with sales efforts led by Steve Nakash, who was #26 in the Scotsman Guide’s rankings in 2012. This team has been added to Guaranteed Rate’s Online Division.
Arbor Mortgage: Founded in 1998 by R.J. Kistka and headquartered in Grand Rapids, Mich., Arbor has been a leading mortgage lender in Michigan and surrounding states operating a direct mortgage lending program. They also have offices in Indianapolis, Ind. and Richardson, Texas.
Guaranteed Rate continued on its path as one of the fastest growing mortgage companies in the nation with these additions. The company’s leadership was also recently honored by two mortgage industry publications. Ciardelli was named “CEO of the Year” by Mortgage Executive Magazine, and he and four other Guaranteed Rate mortgage professionals were named to the MPA Magazine “Hot 100” list of most influential people in the industry.