Guaranteed Rate has acquired three mortgage firms in a move that is likely to add hundreds of million of dollars in annual originations.
The Chicago-based mortgage banker already claims that it is one of the fastest-growing lenders in the United States.
In addition, Guaranteed Rate says that it is “one of the ten largest retail mortgage companies in the nation.”
Originations increased to $15.9 billion last year from $14.7 billion in 2012, according to Mortgage Daily’s Fourth Quarter 2013 Origination Survey.
Three recent asset acquisitions are likely to maintain the company’s momentum.
On Thursday, Guaranteed Rate said it acquired the assets of Scottsdale, Ariz.-based Sun State Home Loans, a 17-year-old firm.
Also acquired were the assets of Nationwide Direct. The company has offices in San Diego and Denver. Founded in 2009, Nationwide has been added to Guaranteed Rate’s online division.
The third purchase was Arbor Mortgage, an Ann Arbor, Mich.-based lender founded in 1998. Arbor has offices in Indianapolis and Richardson, Texas.
Combined annual originations at the acquired companies are $500 million, according to the announcement. Their combined staffing exceeds 50 employees.
“The three firms recently completed their transition to Guaranteed Rate after joining during the fourth quarter of 2013,” the statement said.
