Guaranteed Rate, one of the ten largest retail mortgage lenders in the nation, announced that it has reached an agreement to purchase the assets of FirsTrust Mortgage of Overland Park, Kan.
FirsTrust has been one of the top lenders in the Kansas City area since its founding more than 20 years ago. It has consistently been one of the top 10 lenders by volume in the Kansas City metro and does business in seven states. FirsTrust is also a three-time honoree on the Inc. 5000 list of fastest growing companies, and have become one of the most recognized mortgage banking brands in their market.
“We’re thrilled to have FirsTrust Mortgage become a part of the Guaranteed Rate team,” said Victor Ciardelli, president and CEO of Guaranteed Rate. “They have built their business and reputation on outstanding customer service and helping buyers to better understand the mortgage process, which meshes perfectly with our founding principles.”
“Joining Guaranteed Rate is a natural fit for us,” said Mark McDougald, CEO of FirsTrust. “Their platform is cutting edge in the industry and will allow our mortgage planners to do what they do best—provide an unparalleled experience for their clients while growing their business in ways we could only imagine a short while ago. Their smart, crisp process will allow our team the ability to spend less time on administrative tasks and even more time focusing on delivering the great service our clients and referral partners have come to expect.”
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.
McDougald is the founding chair of the Community Mortgage Lenders of America (CMLA) and currently serves on its board of directors. He also serves on the advisory board of Lender’s One, a national alliance of community mortgage bankers. In addition to their roles as mortgage industry leaders, McDougald and his partner Craig Miller are also well-known for their popular nationally syndicated radio show, “Life As You Own It,” which dispenses real estate and personal finance tips weekly on nearly 40 stations and on the iHeartRadio app.