Guaranteed Rate Affinity Announces Record-Setting 2020

Rhea-AI Summary

Guaranteed Rate Affinity, a joint venture of Guaranteed Rate and Realogy Holdings Corp. (NYSE: RLGY), reported a record 2020, doubling its loan volume to over $13.4 billion. The surge in mortgage demand, attributed to historic low rates, propelled the company to fund loans across more than 39,000 units.

With a workforce exceeding 1,500, Guaranteed Rate Affinity achieved a 94% customer satisfaction score, highlighting its effective service. Investments in technology and a strategic partnership with Realogy contributed significantly to this success, demonstrating strong market growth.

Positive

• Loan volume doubled to over $13.4 billion in 2020.
• Funded more than 39,000 loans, serving over 80,000 borrowers.
• 94% customer satisfaction score indicates strong service quality.
• Increased workforce to over 1,500 to meet demand.

Negative

• None.

CHICAGO, Feb. 24, 2021 /PRNewswire/ -- Guaranteed Rate Affinity, a mortgage origination joint venture between Guaranteed Rate and Realogy Holdings Corp. (NYSE: RLGY), announces a record-setting 2020 in which the company doubled its total loan volume to over $13.4 billion.

With mortgage rates at historic lows, the company's loan volume for both purchases and refinances skyrocketed in markets across the country. To meet the high demand, Guaranteed Rate Affinity increased its workforce to over 1,500 and continues to hire nationwide.

"Guaranteed Rate Affinity did an incredible job last year to meet historic increases in demand while also building market share nationwide," said Guaranteed Rate Companies President and CEO Victor Ciardelli. "This growth is a testament to our loan officers and our strong partnership with Realogy, which was reinforced in 2020 as we worked together to serve a record number of homebuyers."

Guaranteed Rate Affinity broke its company record in 2020 with over $13 billion in funded loans across more than 39,000 units. Incorporated in 2017, the company has now served over 80,000 borrowers while maintaining a 94% customer satisfaction score.

"The strategic expansion of Guaranteed Rate Affinity, along with investments in technology and digital closing products, paid off as the housing and refinance markets gained significant momentum in 2020," said Coldwell Banker Realty President and CEO M. Ryan Gorman. "Guaranteed Rate Affinity broke company records, achieved ambitious market growth, and most importantly, expertly served an incredible number of consumers, and we remain excited about the power of our partnership, which continues to be invaluable to our affiliated agents and customers across the country."

Backed by its award-winning FlashClose ^SM technology and digital mortgage platform, Guaranteed Rate Affinity provides borrowers and real estate agents with access to knowledgeable loan officers, low competitive rates, tailored services and is now licensed in 49 states including Washington, D.C. 

To learn more, please visit: grarate.com

About Guaranteed Rate Affinity

Guaranteed Rate Affinity is a joint venture between Guaranteed Rate, Inc. and Realogy Holdings Corp. (NYSE: RLGY). Guaranteed Rate Affinity is also partnered with Realogy Holdings Corp., which owns some of the most recognized and respected real estate brands in the industry. Guaranteed Rate Affinity originates and markets its mortgage lending services to Realogy's real estate, brokerage and relocation subsidiaries. Guaranteed Rate Affinity provides unmatched support to Realogy brokers coast-to-coast, assuring their customers receive the fastest pre-approvals, appraisals and loan closings possible, creating the ability for buyers to move quickly and confidently when purchasing homes in today's competitive market. The Company also provides the same services to the public and other real estate brokerage and relocation companies across the country—helping employers improve their employees' relocation experience by putting the customer first, providing the customer the ease and security of digital mortgages and offering low rates with loans personalized to each customer's needs. Guaranteed Rate owns a controlling 50.1% stake of Guaranteed Rate Affinity and Realogy owns 49.9%. To explore career opportunities, please visit: careers.grarate.com 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/guaranteed-rate-affinity-announces-record-setting-2020-301234858.html

SOURCE Guaranteed Rate Affinity

FAQ

What milestone did Guaranteed Rate Affinity achieve in 2020?

Guaranteed Rate Affinity doubled its loan volume to over $13.4 billion.

How did the mortgage rates affect Guaranteed Rate Affinity's performance?

Historic low mortgage rates significantly increased loan demand, helping the company fund over 39,000 loans.

What is the customer satisfaction score for Guaranteed Rate Affinity?

The company maintained a customer satisfaction score of 94%.

How many employees does Guaranteed Rate Affinity have?

The company employs over 1,500 individuals to handle increased demand.

What partnerships helped Guaranteed Rate Affinity's growth in 2020?

The strategic partnership with Realogy Holdings Corp. played a key role in their market expansion.